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    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
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    August 5, 2026
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    August 5, 2026
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    August 5, 2026
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    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.
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
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    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.
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      Pahalgam terror attack triggers mass cancellations from eastern India

      April 23, 2025

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      Kolkata, Apr 23 (PTI) The Pahalgam terror attack that claimed 26 lives has triggered widespread panic in eastern India's travel industry, with tour operators reporting widespread cancellations of scheduled tours to Jammu and Kashmir.

      Industry leaders in Kolkata, a key hub for travel to Jammu and Kashmir, claimed that the incident could undo years of recovery and growth that followed a long period of militancy in the valley.

      The attack marks the first time in recent memory that tourists were specifically targeted, heightening safety concerns among travellers.

      "This is madness," said Bilolaksha Das, chairman of the eastern chapter of the Travel Agents Federation of India.

      "There had been terror attacks in Kashmir before. But never before were tourists identified and killed. The entire tourism industry and all its partners revolving around Kashmir, both in the valley and various parts of India, will go for a toss after this incident," he said.

      Das told PTI that tour operators have been receiving calls nonstop from panicked clients looking to cancel or defer their plans.

      "Already several bookings have been cancelled since Tuesday night," he said.

      "With this incident, we are now looking at a bleak tourist season, which started from February-end and will continue till mid-October, including the Durga Puja vacation," Das said.

      He pointed out that Kashmir was the top destination for most domestic travellers in the last few years during the summer holidays, with seven out of the 10 bookings being for the valley.

      Shamim Shah, the chairman of the Jammu and Kashmir chapter of the Travel Agents Federation of India, said the ghastly incident "may have" an impact on tourism.

      "Yes, it is quite obvious that tourists might put their travel plans on hold. But it's too premature to comment on what extent the cancellations will happen.

      "It's true that such incidents instill fear among tourists, but we should not allow the perpetrators of such ghastly acts to succeed. Right now, we are not calculating our economic losses but want to console the tourists and stand by those who lost their loved ones," he told PTI.

      The attack in Baisaran meadow near Pahalgam in south Kashmir's Anantnag district has sent shockwaves across the travel community. Among the dead were two foreign nationals from the UAE and Nepal, in addition to three tourists from West Bengal. Several others were injured.

      Official figures show that Jammu and Kashmir recorded a historic footfall of 2.35 crore tourists in 2024, up from 2.11 crore in 2023 and 1.88 crore in 2022. This included both domestic travellers and pilgrims heading for the Amarnath Yatra and Vaishno Devi shrine, as well as about 65,000 foreign tourists.

      Various economic surveys had hailed this consistent growth in tourism as a critical sign of "normalcy" returning to Jammu and Kashmir. The sector had benefited from better infrastructure, improved connectivity, and strong government-led promotional efforts.

      But the Pahalgam attack may have jeopardised all of that.

      "This will have significant ramifications," said Anil Punjabi, national committee member of the Travel Agents Federation of India.

      "More than 30 per cent of Kashmir's tourist inflow is from eastern India, especially West Bengal," he said.

      Punjabi said there were bookings of around 300 people per day from West Bengal alone for the summer vacation period.

      "You can calculate the losses. Most of these bookings are either going to be cancelled or indefinitely postponed. Tour operators are going to incur heavy losses," he said.

      The attack has caused widespread panic across eastern India's tour and travel industry, especially in cities such as Kolkata and Siliguri which account for a significant portion of the Kashmir-bound tourists.

      Agents in these cities said customers were not only cancelling Kashmir trips but also reconsidering bookings for the next season out of fear and uncertainty.

      Kolkata-based tour operator Mrinmoy Chandra said he received cancellation requests from three groups within hours of the news breaking.

      "Last year, April to July was a peak season. The hotels were booked solid. There were so many new hotels opening in Pahalgam, and even more were being planned," he said.

      Chandra also warned that the attack would impact Kashmir's foreign tourism prospects.

      "Even though foreign tourist traffic is relatively low in summer, this sends out the wrong message," he said.

      The government, which had made significant strides in projecting Kashmir as a safe and attractive destination, now faces the challenge of reviving tourist confidence. It successfully hosted the third G20 Tourism Working Group meeting in Srinagar in May 2023, which was attended by over 60 international delegates.

      But tour operators say all that progress could be reversed.

      "There is fear again. Tourism was the biggest hope for economic recovery. This one attack has undone years of confidence-building," another tour operator and hotelier said.

      The valley's tourism ecosystem -- involving hoteliers, houseboat owners, pony wallahs, drivers, guides, and craftsmen -- is now bracing for a lean season, with the financial impact expected to be severe.

      "Tourism is not just a business there... it's a lifeline. And today, that lifeline is hanging by a thread," Punjabi said.

      Security agencies have stepped up their presence in major tourist hubs. But tour operators believe the damage for the 2025 season may have already been done. PTI PNT ACD

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