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    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
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    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
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    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
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    Rupee gains 9 paise against US dollar
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    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
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    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
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    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
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    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
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    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
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    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.

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      CAG flags gaps in healthcare sector in Gujarat, points to staff shortage, lack of beds

      March 28, 2025

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      Gandhinagar, Mar 28 (PTI) The Comptroller and Auditor General of India (CAG) has pointed out several deficiencies in Gujarat’s healthcare sector, including the shortage of doctors, nurses, beds and the lack of a comprehensive health policy.

      The ‘Report of the CAG of India on Public Health Infrastructure of Health Services’, which was tabled on the assembly floor on Friday, said a shortage of more than 25 per cent doctors and paramedics was noticed in 22 and 19 districts, respectively, said the report. The state has 33 districts.

      CAG also said that Gujarat may increase the budgetary allocation for the health sector up to 8 per cent of the state budget as recommended by the National Health Policy (NHP) in 2017.

      The central auditor said the state’s Health and Family Welfare Department had not framed a policy for human resource management for the public health institutions.

      “Despite recruitment of 9,983 healthcare personnel between 2016 and 2022, there was a shortage of doctors, nurses and paramedics to the extent of 23, 6 and 23 per cent, respectively, in Public Health Institutions as of March 2022,” the CAG said in its report.

      The overall vacancy in doctors, nurses, and paramedics cadres stood at 13 per cent in public health facilities as of March 2022. Vacancies of specialist doctors stood at 51 per cent and 49 per cent in sub-district hospitals (SDHs) and community health centres (CHCs), respectively, it said.

      “Under the National Health Mission Scheme, 31 per cent of specialist doctors and 32 per cent of paramedics posts were vacant as of March 2022. Overall, 76 per cent shortage of teaching staff was noticed in Nursing Colleges/Schools against the norms of Indian Nursing Council,” said the central auditor.

      As per the report, the vacancy of specialist doctors was 28 per cent in civil hospitals, 36 per cent in district hospitals (DHs) and 51 per cent in SDHs against the sanctioned strength.

      “Further, against the sanctioned strength in DHs, vacancy of 18 per cent in doctors cadre, seven per cent in nurses cadre and 46 per cent in paramedics cadre existed. Out of 8,208 posts sanctioned under the National Health Mission scheme, 1,510 posts (18 per cent) remained vacant as of March 2022,” said the report.

      The CAG suggested that the state government may take “necessary steps to fill up vacant posts of doctors, teachers and paramedics”.

      The national auditor also pointed to shortcomings in services like emergency, intensive care units (ICUs), operation theatres (OTs) and blood banks in healthcare facilities.

      “Emergency Services were partially available in 13 DHs out of 19 DHs. Separate Operation Theatres for Pediatrics (as per Indian Public Health Standards-IPHS) were not available in three civil hospitals out of five test-checked facilities,” said the CAG.

      There was a shortfall of two OTs in one district hospital out of five test-checked DHs. Blood bank service was not available in three such hospitals out of 19 DHs, it said.

      “Pathology services were partially available in all 19 DHs. Ambulance services were partially available in 15 DHs out of 19 DHs. Mortuary service was not available in four DHs out of 19 DHs. Dietary service was not available in one DH out of 19 DHs,” said the report.

      The CAG said the state may take steps to improve these services with the required manpower and equipment.

      In 16 of 19 district hospitals in Gujarat, the number of beds was less than prescribed as per the IPHS norms, it said.

      The report also pointed out a shortage of beds and building infrastructure.

      It further said that the state government has not framed a “comprehensive health policy” to guide the development of the health sector in Gujarat.

      The percentage of capital expenditure to total expenditure on health was 14.17 during 2016-22. The percentage of the health budget to the total state budget for 2021-22 was 5.42, which was less than the target of more than eight per cent as laid down under the National Health Policy 2017, said the report.

      “Government may take necessary steps to increase the budgetary allocation for the health sector up to eight per cent of the state budget and make efforts to augment the capital expenditure in the healthcare sector,” it added. PTI PJT PD NR

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