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    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
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    August 15, 2026
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    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
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    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
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    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
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    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
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    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
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    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
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    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
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    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
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    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
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    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
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    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
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    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
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    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
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    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
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    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
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    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
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    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.

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      HIGHLIGHTS

      April 5, 2025

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      New Delhi, Apr 5 (PTI) Following are the top stories at 5 pm: NATION BOM17 CG-SHAH-LD NAXALS Lay down arms, be part of Bastar's development journey: Amit Shah appeals to Naxalites Dantewada: Union Home Minister Amit Shah on Saturday made an appeal to the Naxalite to lay down arms and join the mainstream, averring that nobody feels happy when a Naxalite is killed.

      MDS5 TN-PAMBAN BRIDGE-PM PM to open India's first vertical lift sea bridge in Rameswaram Apr 6, to dedicate other projects Chennai: Prime Minister Narendra Modi will inaugurate India's first vertical lift sea bridge in Rameswaram and would also dedicate other projects on April 6. On the eve of the official event, the Indian Railways came out with a promotional video of the picturesque new Pamban Bridge.

      DEL21 JK-LD INTRUDER Pak intruder shot dead along IB in Jammu, BSF holds flag meeting with Pakistan Rangers Jammu: A Pakistani intruder was shot dead along the International Border here, a BSF spokesperson said on Saturday, claiming that the force foiled an infiltration attempt from across the border.

      DEL24 RAHUL-WAQF Waqf bill attacks Muslims, sets precedent to target other communities in future: Rahul New Delhi: Leader of Opposition in Lok Sabha Rahul Gandhi on Saturday alleged the "Waqf Bill attacks Muslims" and "sets a precedent to target other communities in future".

      DEL14 NAVY-RAJNATH-2NDLD ARRIVAL Defence Minister Rajnath Singh inaugurates various infra projects at Karwar naval base Karwar (Karnataka): Defence Minister Rajnath Singh on Saturday inaugurated various infra projects at Karwar naval base in Karnataka. By Kunal Dutt DEL23 DL-AYUSHMAN BHARAT-IMPLEMENT Delhi govt inks MoU with Centre to roll out Ayushman Bharat scheme New Delhi: In a move towards expanding people's access to healthcare in the national capital, the BJP-led Delhi government inked a MoU with the Centre on Saturday to implement the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) in the city.

      DEL8 GOVT-MANIPUR Government holds meeting with Meitei-Kuki groups on Manipur conflict resolution New Delhi: The Centre on Saturday held a meeting with representatives of Manipur's warring Meitei and Kuki communities, in an effort to bring a lasting peace in the restive state.

      DEL9 GOVT-DISASTER-RELIEF Central govt approves Rs 1280 cr to Bihar, Himachal, Tamil Nadu, Puducherry as disaster assistance New Delhi: A high level committee, headed by Union Home Minister Amit Shah, has approved Rs 1280.35 crore of additional central assistance to Bihar, Himachal Pradesh, Tamil Nadu and Puducherry, affected by flood, flash flood, cloudburst, landslides and cyclonic storm in 2024.

      DEL11 ED-EMPURAAN-PRODUCER ED claims FEMA contravention after raids against 'L2: Empuraan' producer Gopalan's chit fund firm New Delhi: The Enforcement Directorate on Saturday said it seized Rs 1.5 crore in cash after searching the premises of a chit fund company owned by Gokulam Gopalan, one of the producers of the Malayalam movie "L2: Empuraan", in connection with foreign exchange law violations.

      BOM5 MH-KAMRA-SUMMON 'Traitor' jibe case: Kamra fails to appear before Mumbai police; skips third summons Mumbai: Stand-up comedian Kunal Kamra failed to appear before the Mumbai police on Saturday in connection with a case registered against him for allegedly passing a "traitor" jibe at Maharashtra Deputy Chief Minister Eknath Shinde, an official said.

      DEL28 CPI(M)-GENERAL SECRETARY Battle lines drawn as CPI(M) set to elect new general secretary Madurai (TN): As the CPI(M) is set to pick its next general secretary, speculation is rife over who would take charge of the largest Left party in the country, with the names of M A Baby and Ashok Dhawale figuring prominently. By Anjali Ojha BOM15 MH-LD HOSPITAL Pune woman's death: Guilty will be punished, says CM; hospital announces 'no deposit' policy Pune: Maharashtra Chief Minister Devendra Fadnavis on Saturday said the guilty should be punished amid an outrage over a pregnant woman's death after she was allegedly refused admission by Pune's Deenanath Mangeshkar Hospital over non-payment of a Rs 10 lakh deposit.

      CAL2 MN-MILITANTS-ARREST 4 militants arrested in Manipur Imphal: Security forces arrested four militants belonging to two proscribed outfits from Manipur's Bishnupur, Thoubal and Imphal East districts, police said on Saturday.

      LEGAL LGD3 SC-WAQF BILL-AAP MLA AAP MLA Amanatullah Khan moves SC against Waqf Bill New Delhi: Aam Aadmi Party MLA Amanatullah Khan has moved the Supreme Court, challenging the constitutional validity of the Waqf (Amendment) Bill, 2025.

      FOREIGN FGN68 MYANMAR-QUAKE-INDIA-AID India hands over 442 metric tonnes of food aid to quake-hit Myanmar Mandalay (Myanmar): India on Saturday delivered a large consignment of food aid to quake-hit Myanmar at Thilawa Port in the southern coastal area to the Yangon region's chief minister as part of its ongoing Operation Brahma.

      FGN62 PM-INDIA-LD-LANKA India, Sri Lanka ink major defence pact following talks between PM Modi and President Dissanayake Colombo: For the first time, India and Sri Lanka on Saturday inked an ambitious defence cooperation pact with Prime Minister Narendra Modi outlining a broader roadmap for deeper bilateral cooperation, asserting that security of both nations is interlinked and dependent on each other. By Manash Pratim Bhuyan FGN61 PM-LANKA-AWARD Sri Lanka confers Mithra Vibhushana award on PM Modi Colombo: Prime Minister Narendra Modi was on Saturday conferred with the 'Mithra Vibhushana' award by Sri Lankan President Anura Kumara Dissanayake in recognition of his role in boosting bilateral ties. By Manash Pratim Bhuyan PTI NB NB NB

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