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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
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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
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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.
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
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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
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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
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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
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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
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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.

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Text of Shri Kapil Sibal’s Speech at the Presentation of the National Innovation Council’s “2nd Report to the People, 2012”

November 3, 2012

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Press Information Bureau

Government of India

Ministry of Communications & Information Technology

02-November-2012 15:55 IST

Following is the text of Union Minister for Communications & IT, Sh Kapil Sibal’s speech on the occasion of the Presentation of the National Innovation Council’s  “2nd Report to the People, 2012” to the President of India. 

“I feel honored and privileged to be present here on the occasion of the release of the “2nd Report to the People, 2012” to the President of India by National Innovation Council

In the 21st century, innovation is the most important determinant of economic growth and development. Innovation is the engine for national and global growth, employment, competitiveness and sharing of opportunities.

Innovation carries spin-off benefits and yields social dividends through enhanced quality of life, reduction in poverty, improved health, better education and empowerment of weaker sections of society. Innovation leads to new product development and greater technology-based productivity which ultimately results in growth of value-added industries. The higher the value added per worker, the greater the average earnings per worker and higher standards of living.

Pandit Jawahar Lal Nehru, laid the foundation stones of innovation led society. To Pandit Nehru, science and innovation were not only a tool for economic development but also a means for the emancipation of mankind and the qualitative transformation of a stagnant society. The 1958 science policy resolution reflected his own belief beautifully: “It is an inherent obligation of a great country like India with its tradition of scholarship and original thinking, and its great cultural heritage, to participate fully in the march of science, which is probably mankind’s greatest enterprise today”.

The Government of India has declared 2010-2020 as the 'Decade of Innovation'. To discuss, analyze and help implement strategies for inclusive innovation in India and prepare a Roadmap for Innovation in the country, the Prime Minister has constituted the National Innovation Council (NIC) in September 2010 with members from diverse fields.

Ministry of Communications and IT has taken a number of initiatives to promote an ecosystem for innovation through ICT, in various sectors of the economy. I would like to highlight two key initiatives.

Let me begin with initiative number One, The Triad of polices. Three, interdependent and synergistic policies for Telecom, IT and Electronics Manufacturing have been released after consulting all stakeholders. The three policies together drives the National agenda for ICTE. The principal objectives of this policy are:

  • Optimally leverage our existing and developing ICT infrastructure and capabilities to meet our growing need for high quality social sector services like skill development, welfare programs, e-governance services as well as for banking and insurance.
  • To use the ICTE capabilities to enhance competitiveness and efficiency in manufacturing across the board and in key infrastructure sectors like power, transport and aviation.
  • Leveraging the mushrooming demand for ICTE products and services to foster innovation, encourage R&D through academic institutions and industry.
  • To reposition the mobile phone from a mere communication devise to an instrument of empowerment which combines communication with proof of identity, full secure financial and other transaction capability, multi-lingual services and the like.

The Triad of policies has extensive programs for R&D, IPR creation and financing of innovative projects in Telecom, Information Technology and Electronics Manufacturing sectors.

In the next 18 months, the Ministry of Communications and IT will vigorously implement these policies on the ground, to empower the common man through innovation and ICT revolution.

The second initiative is the National Optical Fibre Network (NOFN). To accelerate the reach of connectivity and to enhance development and innovation at the grassroots, NOFN will provide optic-fiber based Broadband connectivity to 250,000 Panchayats in the country. The aim is to leverage this connectivity so as to improve service delivery with transparency & accountability and to provide a platform for collective solution building and knowledge sharing for local populations through relevant applications and an associated ecosystem. The Government of India is committed to spend Rs 20,000 crore for implementing this project by Dec 2013.

NOFN will ensure that Panchayats are equipped with not just broadband connections, but also with computers, software and people to create, organise, distribute and deliver relevant information and provide needs-based applications which could be developed by understanding local needs, context and applicability. Services such as birth certificate, death certificate, land records, police reports, school admissions, health records, court papers, government documentation, renewal of licenses, tax submissions, etc. can be facilitated through broadband connectivity. It will thus enrich G2C (Government to Citizen) and B2C (Business to Citizen) interactions leading to greater collaborations.

Pilots in 58 Panchayat locations in Rajasthan, Andhra Pradesh and Tripura are underway. Shortly, Mr Pitroda will connect us, live to the Kanpura Panchayat in Ajmer district, Rajasthan to demonstrate the transformational impact of rural broadband in the citizens’ lives in Kanpura.

The Ministry is also working with the Ministry of Law and Justice, the Judiciary and the Ministry of Home Affairs to develop and deploy integrated and interoperable ICT systems in courts, police stations, prisons and forensic labs, to improve access to justice and reduce pendency in the legal system.

I am delighted to be associated with the endeavors of the National Innovation Council in driving the innovation agenda for the country. I would like to express my gratitude to Mr. Sam Pitroda for this opportunity.

I also like to extend my gratitude and regards to His Excellency, for taking time from his busy schedule to grace this occasion.”

Thank You

*****

MV/AT/RK

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