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    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
    HIGHLIGHTS
    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
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    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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    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
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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
    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.
    July 31, 2026
    Show AI Summary
    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.
    July 31, 2026
    Show AI Summary
    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
    Show AI Summary
    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
    Show AI Summary
    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
    Show AI Summary
    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
    Show AI Summary
    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.

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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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