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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
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August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
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Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
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Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.

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President’s Speech at the inauguration of All India Lokayuktas Conference 2012

November 3, 2012

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Press Information Bureau

Government of India

Presidents Secretariat

02-November-2012 19:37 IST

I am happy to participate in the inaugural ceremony of the Eleventh All India Lokayuktas Conference which brings together Lokayuktas of different States to discuss ways and means of enhancing effectiveness of Lokayuktas. These All India Lokayukta Conferences, bring different stakeholders together so that views can be shared on the challenges and best practices. With such a wide range of experienced participants, I am sure the discussions will bring forth concrete suggestions and initiatives for strengthening Lokayuktas and making them more effective.

In recent times, there has been concern over the need to ensure that the corridors of power remain untainted by corruption or nepotism and that there is optimum utilization of resources and funds for their intended purposes. This national conference is therefore timely. For the successful working of democracy, people should be confident that Government policies are formulated and implemented with honesty, transparency and fairness.

As all of you are aware, Lokayukta or the Ombudsman was originally conceived in Scandinavian countries as a watchdog of the administration as well as protector of the “common man”. Despite having minimal power to implement decisions, the Ombudsman played a very useful role in these countries by bringing humanism in governance. In India, Sh. M. C. Setalvad, the distinguished lawyer, in his speech at the All India Lawyer’s Conference held in 1962, suggested the idea of establishing an institution similar to that of an Ombudsman. This idea was extensively investigated by the First Administrative Reforms Commission in 1966 and while recommending setting up of Lokpal at the Centre and Lokayuktas in the States, this Commission advocated ‘Ombudsmanic’ institutions as a means for redressal of citizens’ grievances, containing corruption and removing discontent amongst citizens.

Over the years, as India witnessed rapid growth, the extent of public spending has steadily increased. For example, the first Revenue Budget of independent India presented by then Finance Minister Shri Shanmukhom Chetty was of Rs. 197.39 crore comprising of Revenue receipts of Rs.171.15 crore and Revenue Expenditure of Rs.197.39 crore, thereby leaving a Deficit of Rs.26.24 crore. Whereas, the last budget presented by me in March of this year was nearly Rs. 12 lakh crore. The first five year plan outlay was Rs. 2000 crore while public investment during the 11th Plan period was around Rs. 11 lakh crore.

As the political economy grows in size and depth, institutions conceived and established under Constitution face unique challenges. Ensuring sustainable growth, eliminating poverty, raising the quality of life, promoting industrialization, providing jobs etc. requires quick decision making by the Executive on whom our Constitution vests the responsibility of governance. If the Executive has to deliver results and demonstrate efficient governance, it needs to have substantial financial powers. At the same time, provision of such financial powers and the use of administrative discretion in governance gives rise to opportunities for nepotism and corruption. It is in recognition of the need for a mechanism which would investigate corruption amongst public persons and help bring probity in governance that Lokayuktas have been set up across the country and a Lok Pal is under consideration at the center.

I understand at present 19 Lokayuktas have been set up by State Governments. I would urge the remaining states to also consider establishing similar institutions at the earliest and learn from the best practices of successful Lokayuktas within the country.

In the States where Lokayuktas have been set up, different Acts govern their establishment and the provisions relating to the eligibility of Lokayukta, its jurisdiction, procedures, powers and infrastructure widely vary. There is no uniformity in the functioning of Lokayuktas of different States and their effectiveness differs from State to State. The fact that Lokayuktas only have recommendatory powers and no power to enforce their decisions, what should be the extent of their jurisdiction, should government servants be under their ambit or only public persons, should they have independent investigation agencies of their own or should they use existing official agencies etc. all are issues which have engendered significant debate in society. I am sure this conference will discuss these issues threadbare.

The Second Administrative Reforms Commission, in its Fourth Report on “Ethics in Governance”, recommended uniformity in the general principles regarding the structure, power and functions of Lokayuktas in all the States. Justice Manmohan Sarin in his remarks has referred to the preparation of a Model Mukhya Lokayukta and Upalokayukta Bill for the reference of State Government. It is a welcome step. The Lokayuktas may also like to discuss this Model Bill with the Ministry of Law and Justice and see how the matter can be taken forward expeditiously.

It is imperative that Lokayuktas, who are currently in office inspire confidence of the people by conducting impartial and independent inquiries in pursuit of truth. State Governments must facilitate the Lokayuktas in the full implementation of the legislative mandate entrusted upon them and not see them as a nuisance or interfering in governance. Lokayuktas must be provided adequate financial and administrative autonomy.

The Lokayuktas must at the same time remember that their duty is not just to indict public functionaries when they are guilty but also to protect them when nothing is found wrong with their conduct and to correct wrong perceptions about them with equal force and earnestness. It must be ensured that in the name of checking corruption, vilification campaigns are not carried out to defame or destroy reputations. False allegations aimed at impugning reputations are bad. The institution of Lokayukta is an ally to good governance not an obstruction to development.

Finally, let me repeat what I said in my Independence Day address to the nation earlier this year. Anger against the bitter pandemic of corruption is legitimate as is the protest against this plague. But, this should not become an excuse for an assault on our democratic institutions.

Institutions are the visible pillars of our Constitution, and if they crack then the idealism of our Constitution cannot hold. Our institutions may have suffered from the weariness of time. The answer is not to destroy what has been built, but to re-engineer them so that they become stronger than before. Institutions are the ultimate guardians of our liberty.

The judiciary of our country is the ultimate sentinel of justice and arbiter of truth and the Parliament is the custodian of the people’s aspirations and the architect for implementing their dreams. Over and above the Constitutional scheme of the Executive, Legislature and Judiciary, we have, in recent times, given ourselves the Right to Information, Legal Aid, Autonomous Investigation Agencies and a host of beneficial legislation. The Lok Pal Bill is before the Parliament. New laws for imposing sanctions for bribery by foreign agents, transparency in public procurement, citizens’ grievances redressal etc are also under consideration. All these must strengthen existing institutions of accountability not displace them or undermine them. We must also distinguish bonafide errors of judgment from graft and corruption, civil wrong from criminal intent and the need to have swift and effective sanctions against corruption from the imperative of protecting the innocent.

I am sure that the institution of Lokayuktas will emerge as a strong and an effective body in India making useful contribution to enhancing probity in governance and checking corruption as well as maladministration. I extend my best wishes for the success of this conference.

****
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