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    Andhra records 21 per cent growth in net GST collections till July
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    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
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    August 1, 2026
    Show AI Summary
    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
    Show AI Summary
    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
    Show AI Summary
    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Europe, Canada are eyeing alternatives to American-made fighter jets. Here's why

      March 19, 2025

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      Berlin, Mar 19 (AP) Questions are mounting in Canada and in Europe over whether big-ticket purchases of high-end US weaponry, such as the F-35 Joint Strike Fighter, are still a wise strategic choice for Western countries worried about their investment in US defence technology.

      In less than two months, US President Donald Trump has upended decades of US foreign policy. He has left NATO members questioning whether the US will honour the alliance's commitment to defend each other if other European countries are attacked by Russia. He's also made repeat overtures to Russia and suspended most US foreign aid.

      And Pete Hegseth, Trump's defence secretary, last month told a gathering of European defence ministers “that stark strategic realities” prevent the US from being primarily focused on the security of Europe.

      That could impact foreign sales of the Lockheed Martin-produced F-35 and other advanced US jets like the F-16. As the war in Ukraine continues into its fourth year, it's become clear that Eastern European NATO members still have vast stores of Soviet-era weapons in their stockpiles that were not interoperable with Western weaponry. A long-term plan to get all of NATO on similar platforms — by replacing old Soviet-era jets with Western ones, particularly the F-16 and in some cases, the F-35 — has gained momentum.

      Some of the NATO countries are now re-thinking tying their defence to US-made systems and potentially considering European jets like the Saab Gripen, Eurofighter Typhoon and Dassault Rafale instead.

      Angering an F-35 partner In Canada, where Trump has launched a trade war and has threatened economic coercion to make it the 51st American state, new Prime Minister Mark Carney has asked Defense Minister Bill Blair to review its purchase of F-35s. Canada has been a partner with the US in developing the F-35.

      Blair will see if there are other options “given the changing environment,” a defence spokesman said.

      Carney on Tuesday announced a radar purchase from Australia worth Canadian $6 billion ($4.2 billion). The Over-the-Horizon Radar system will provide early warning radar coverage from the Canada-United States border into the Arctic, and officials said it would have a smaller footprint than a similar American system.

      And in Portugal, the outgoing defence minister said in an interview with a Portuguese newspaper published last week that “recent positions” taken by the US compelled a rethink about the purchase of F-35s because the US has become unpredictable. Portugal is considering various options to replace its F-16s.

      “You're not just buying an airplane, you're buying a relationship with the United States,” said Winslow T. Wheeler, a longtime government watchdog who spent 30 years in the U.S. Congress working for Democrats and Republicans on national security and defence issues. “People in the past have not just welcomed but craved that kind of relationship.” The Netherlands and Norway have voiced recent support for the F-35 program in comments to the media.

      “The F-35 is a vital component of our national defence capability, and the cooperation and dialogue with the United States continues to support the development and use of this high-end platform," Norwegian State Secretary Andreas Flåm said in a statement. ”We expect this constructive cooperation to continue into the future." The F-35 and a kill switch The F-35 Joint Strike Fighter was designed to combine stealth, maneuverability and attack capabilities in a single aircraft. Each jet costs about $85 million (78 million euros), and the price jumps to $100 million (91 million euros) to $150 million (137 million euros) when supporting infrastructure and spare parts are included. About 1,100 have been produced to date for 16 military services across the globe.

      The F-35B, a variant that can take off from ship decks vertically, is the latest model. It's the most expensive weapons system the U.S. has ever produced, with estimated lifetime costs now expected to top $1.7 trillion. One of the ways the program was counting on reducing those costs was by selling more aircraft to international customers.

      But the Trump administration's recent pause on providing intelligence to Ukraine to force the country to negotiate with Russia has fuelled fears that the U.S. may have similar ways to coerce them in a future fight — such as by embedding a hypothetical “kill switch” in the F-35's millions of lines of programming.

      In a statement, the Pentagon's F-35 Lightning II Joint Programme Office on Tuesday vehemently rejected any notion that jets sold to allies could be remotely disabled.

      “There is no kill switch. The F-35 was conceived, developed, and continues to be operated and sustained as a joint/coalition platform, built on strong partnerships with US allies and partner nations across the globe,” the office said in a statement. “The strength of the F-35 program lies in its global partnership, and we remain committed to providing all users with the full functionality and support they require.” But that's not the only way to impact an ally's program, Wheeler said. The F-35 requires constant US-controlled tech upgrades to operate in combat. If a relationship with the US soured and updates were delayed, it could make a jet, or even a fleet, inoperable, he said.

      Lockheed Martin, in a statement Tuesday, said the company is committed to helping its customers “strengthen their airpower and security with the F-35.” “As part of our government contracts, we deliver all system infrastructure and data required for all F-35 customers to sustain the aircraft,” the defence contractor said. “We remain committed to providing affordable and reliable sustainment services to our customers that enable them to complete their missions and come home safely.” European jet alternatives The Saab Gripen, Eurofighter Typhoon and Dassault Rafale could see an increase in sales if other countries decide to forgo their F-35 purchases. But none of them have the stealth capabilities of the F-35.

      The Swedish-made Saab Gripen is used by the militaries of Sweden, the Czech Republic, Hungary, South Africa,Brazil and Thailand. Conventional defence industry wisdom says it's significantly cheaper than the F-35, Wheeler said.

      The Eurofighter Typhoon, a swing-role combat aircraft, is part of the British, German, Spanish and Italian forces. It's manufactured by a consortium of defence companies: Airbus, BAE Systems and Leonardo.

      The French-built Dassault Rafale twin-jet fighter is used by the French Navy and the French Air and Space Force. The governments of Egypt, India, Qatar, Greece, Croatia, the United Arab Emirates, Serbia and Indonesia have all signed contracts for Rafales.

      David Jordan, a senior lecturer in defence studies at King's College London and co-director of the Freeman Air and Space Institute, said that previously, European leaders felt it was easier and more cost-effective to lean on the U.S. defence industry — and American taxpayers — to get access to advanced weaponry. But the Trump administration's move away from Europe could be the turning point, Jordan said.

      It would require the continent to pool its money and resources — often a sticking point among the countries — into research and development, manufacturing and logistics, but Jordan said it's possible within five to 10 years.

      “The European defence industry is more than capable of building what it needs,” Jordan said.

      French President Emmanuel Macron is already ramping up his efforts to persuade France's allies to switch to European defence contractors and weapons systems, including French-built Rafale fighters.

      “Those who buy the F-35 should be offered the Rafale. That's how we'll increase the pace,” La Dépêche du Midi quoted Macron as saying during a press briefing Friday to journalists from regional French newspapers.

      If the Europeans increase their production, it would greatly affect the bottom lines of Lockheed Martin and other U.S. defence companies. Jordan said U.S. defence contractors are likely concerned about Trump's next move.

      “At what point will they say we don't like this, we're talking about risking billions of dollars here,'” Jordan said.

      The White House did not respond to a request for comment Tuesday. (AP) NSA NSA

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