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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    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
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    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
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
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    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
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    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
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    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
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    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
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    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.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    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
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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
    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
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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.

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      This Ramadan, relief, hope bump against violence, uncertainty in new Syria

      March 25, 2025

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      Damascus, Mar 25 (AP) Sahar Diab had visited Damascus' famed Umayyad Mosque previously. But as the Syrian lawyer went there to pray during her country's first Ramadan after the end of the Assad family's iron-fisted rule, she felt something new, something priceless: A sense of ease.

      “The rituals have become much more beautiful,” she said. “Before, we were restricted in what we could say. ... Now, there's freedom.” As Diab spoke recently, however, details were trickling in from outside Damascus about deadly clashes. The bloodshed took on sectarian overtones and devolved into the worst violence since former President Bashar Assad was overthrown in December by armed insurgents led by the Islamist group Hayat Tahrir al-Sham (HTS).

      This Ramadan — the Muslim holy month of daily fasting and heightened worship — such are the realities of a Syria undergoing complex transition. Relief, hope and joy at new openings — after 53 years of the Assad dynasty's reign, prolonged civil war and crushing economic woes — intermingle with uncertainty, fear by some, and a particularly bloody and worrisome wave of violence.

      Some are feeling empowered, others vulnerable.

      “We're not afraid of anything,” Diab said. She wants her country to be rebuilt and to get rid of Assad-era “corruption and bribery”.

      At the Umayyad Mosque, the rituals were age-old: A woman fingering a prayer bead and kissing a copy of the Quran; the faithful standing shoulder-to-shoulder and prostrating in prayer; the Umayyad's iconic and unusual group call to prayer, recited by several people.

      The sermon, by contrast, was fiery in delivery and new in message.

      The speaker, often interrupted by loud chants of “God is great”, railed against Assad and hailed the uprising against him.

      “Our revolution is not a sectarian revolution even though we'd been slaughtered by the sword of sectarianism,” he said.

      This Ramadan, Syrians marked the 14th anniversary of the start of their country's civil war. The conflict began as one of several popular uprisings against Arab dictators, before Assad crushed what started as largely peaceful protests and a civil war erupted.

      It became increasingly fought along sectarian lines, drawing in foreign powers and fighters. Assad, who had ruled over a majority Sunni population, belongs to the minority Alawite sect and had drawn from Alawite ranks for military and security positions, fuelling resentment. That, Alawites say now, shouldn't mean collective blame for his actions.

      Many Syrians speak of omnipresent fear under Assad, often citing the Arabic saying, “the walls have ears”, reflecting that speaking up even privately didn't feel safe. They talk of hardships, injustices and brutality. Now, for example, many celebrate freedom from dreaded Assad-era checkpoints.

      “They would harass us,” said Ahmed Saad Aldeen, who came to the Umayyad Mosque from the city of Homs. “You go out ... and you don't know whether you'll return home or not.” He said more than a dozen cousins are missing; a search for them in prisons proved futile.

      Mohammed Qudmani said even going to the mosque caused anxiety for some before, for fear of getting on security forces' radar screen or being labelled a “terrorist”.

      Now, Damascus streets are bedecked with the new three-starred flag, not long ago a symbol of Assad's opponents. It flutters from poles and is plastered to walls, sometimes with the words “God is great” handwritten on it.

      One billboard declares this the “Ramadan of victory.” On a government building, the faces of former presidents Bashar and Hafez Assad are partly cut off from a painting; in their place, “The Freedom” is scribbled in Arabic.

      Haidar Haidar, who owns a sweets shop, said he was touched that new security force members gave him water and dates while he was out when a call to prayer signaled that those fasting can eat and drink.

      “We never saw such things here,” he said, adding that he used to recite Quranic verses for protection before passing through Assad's checkpoints.

      He said his business was doing well this Ramadan and ingredients have become more available.

      Still, challenges — economic, geopolitical and otherwise — abound.

      Many dream of a new Syria, but exactly how that would look remains uncertain.

      “The situation is foggy,” said Damascus resident Wassim Bassimah. “Of course, there's great joy that we've gotten rid of the cancer we had, but there's also a lot of wariness.” Syrians, he added, must be mindful to protect their country from sliding back into civil war and should maintain a dialogue that is inclusive of all.

      “The external enemies are still there,” he said. “So are the enemies from within.” The war's scars are inescapable.

      Just outside of Damascus, death and destruction are seared into some landscapes littered with pockmarked and ruined structures. Many Syrians grieve the missing and killed; many families have been divided by the exodus of millions as refugees.

      Ramadan typically sees festive gatherings with loved ones to break the daily fast. Some Syrians huddle around food and juices at restaurants or throng to Ramadan tents to break their fast and smoke waterpipes as they listen to songs.

      But this month's violence in Syria's coastal region has stoked fears among some.

      The bloodshed began after reports of attacks by Assad loyalists on government security forces. Human rights and monitoring groups reported revenge killings in the counteroffensive, which they said saw the involvement of multiple groups.

      According to them, hundreds of civilians, or more, were killed; figures couldn't be independently confirmed.

      The Syrian Observatory for Human Rights said most of the killed civilians were Alawites in addition to a number of armed Alawites and security forces. Syrian authorities have formed a committee tasked with investigating the violence.

      Even before the bloodshed, while many celebrated the new government, others questioned what the ascent of the former insurgent forces would mean for freedoms, including of minorities and of those in the majority who are secular-minded or adhere to less conservative interpretations of Islam. The new authorities have made assurances about pluralism.

      Sheikh Adham al-khatib, a representative of Twelver Shiites in Syria, said many from the Shiite minority felt scared after Assad's ouster and some fled the country.

      Some later returned, encouraged by a relative calm and the new authorities' reassurances, he said, but the recent violence and some “individual transgressions" have rekindled fears.

      As the violence unfolded earlier this month, crowds gathered in Damascus.

      Some rallied to support security forces. Others, like Malak al Shanawani, participated in a different gathering, against the killing of the security forces and civilians. The bloodshed brought tears to her eyes.

      “It's nightmarish,” said the feminist and political activist. “It's one of the worst moments.” Under Assad, al Shanawani was arrested more than once. Among those killed in the violence, she said, were three brothers of an Alawite friend who was also arrested under Assad.

      “When we used to hear that the Alawites would get slaughtered, we'd say: No, we can protect you; we wouldn't allow this to happen,'” said al Shanawani, who's from the Sunni community. “But it has happened.” At the silent vigil, activists raised signs that called for de-escalation and denounced “sectarian incitement.” One read: “Neither religion, nor sect will divide us.” Another declared: “The Syrian revolution doesn't accept injustice.” But the gathering quickly deteriorated into shouting and shoving matches as some on the street appeared provoked by it.

      One man angrily asked participants where they were when it was the Sunnis who were suffering. Another furiously ripped a sign. A third insulted Alawites.

      Here and there, some attempted to discuss, to find common ground. Occasionally, people who started off arguing would agree on something and join each other in chants.

      “One. One. One,” they yelled. “The Syrian people are one.” As the chaos and friction continued, however, gunshots were fired into the air to disperse the crowds. (AP) PY PY

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