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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
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    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      PMLA, Black Money & ED

      Legislative Business Transacted During Winter Session, Concluded On 20th December 2012

      December 21, 2012

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      Press Information Bureau

      Government of India

      Ministry of Parliamentary Affairs

      21-December-2012 17:07 IST

      The Winter Session, 2012 of Parliament which commenced on Thursday, the 22nd of November, 2012, concluded on Thursday, the 20th of December, 2012.  The Session provided 20 sittings spread over a period of 29 days. 

      In the Lok Sabha, Smt. Sushma Swaraj moved the motion under Rule 184 regarding withdrawal of the decision of the Government to allow 51% Foreign Direct Investment (FDI) in multi brand retail trade on 04.12.2012. Prof. Saugata Roy and Sh. Hasan Khan also moved the motions for modification of notification made under the Foreign Exchange Management Act, 1999 and laid on the Table of Lok Sabha on 30.11.2012.  These motions were discussed together for about 11 hours spread over two days. The motion moved by Smt. Sushma Swaraj, the House divided and the result of the division was “Ayes – 229 and Noes – 258.” Accordingly the motion was negatived. The motion moved by Prof. Saugata Roy was also negatived with the division “Ayes – 227 and Noes – 258.”

      In the Rajya Sabha, a discussion under Rule 168 was held on the motion moved by Dr. V. Maitryan that this House disapproves the decision of the Government to allow FDI in Multi brand Retail Sector was held and the motion was negatived with the division “Ayes – 102 and Noes – 123.”

      The Constitution (One Hundred Eighteenth Amendment) Bill, 2012 which seeks to provide for special provisions for the erstwhile Hyderabad-Karnataka areas of the State of Karnataka which consist of of the districts of Gulbarga, Bidar, Raichur, Koppal and Yadgir and additionally include the Bellary Districts was considered and passed by both Houses of Parliament. Another Constitution amendment Bill, namely the Constitution (One Hundred Seventeenth Amendment) Bill, 2012, which seeks to protectthe interest of Scheduled Castes and Scheduled Tribes by providing impediment free reservation in promotion in Government Services, was also passed by the Rajya Sabha. This Bill was also taken up in Lok Sabha but it was stalled due to impasse created by the opposition.

      During the Session, Supplementary Demands for Grants (General) for 2012-13 was discussed and voted and its related Appropriation Bill was passed by the Lok Sabha. Subsequently, the Rajya Sabha considered and returned the related Appropriation Bill.

      In the Lok Sabha, a Short Duration Discussions under Rule 193 was held on need for uniform education system.

      In Lok Sabha three Calling Attentions were held on

      (i) Spread of Dengue and Chikengunia in the Country;

      (ii) Plight of coconut growers in Tamilnadu leading to starvation death; and

      (iii) Dilution of Jute packaging materials and in Rajya Sabha one Calling Attention was held on situation arising out of suspension of Indian Olympic Association (IOA) by International Olympic Committee (IOC).

      Bills with significant importance and emphasizing the Government policy of liberalization of the economy such as

      (i) the Prevention of Money Laundering (Amendment) Bill, 2011;

      (ii) the Banking Laws (Amendment) Bill, 2011; and

      (iii) the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011 were passed by   both the Houses during this Session.

      One of the important features of the Session was that several bills including FDI and matters related to FEMA, Constitution Amendment Bills etc. could be steered through “division of vote”, exhibiting Government’s resoluteness and better preparedness.   

      During the Session, 9 Bills (7 in the Lok Sabha and 2 in the Rajya Sabha)were introduced.  The Lok Sabha passed 7 Bills and the Rajya Sabha passed 8 Bills during the session. Total number of Bills passed by both Houses of Parliament during the Session is 7. A list containing the titles of the Bills introduced, considered and passed during the Session is annexed.

      Legislative Business Transacted During Twelveth Session of Fifteenth Lok Sabha and 227th Session of Rajya Sabha

      (Winter Session, 2012)

      I – BILLS INTRODUCED IN LOK SABHA

      1.    The Coal Mines (Conservation and Development) Amendment Bill, 2012

      2.    The Central Universities (Amendment) Bill, 2012

      3.    The Criminal Law (Amendment) Bill, 2012

      4.    The Competition (Amendment) Bill, 2012

      5.    The Appropriation (No.4) Bill, 2012

      6.    The Governors (Emoluments, Allowances and Privileges) Amendment Bill, 2012

      7.    The Constitution (Scheduled Tribes) Order (Second Amendment) Bill, 2012

      II – BILLS PASSED BY LOK SABHA

      1.     The Prevention of Money Laundering (Amendment) Bill, 2011

      2.    The Unlawful Activities (Prevention) Amendment Bill, 2011

      3.    The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011

      4.    The Appropriation (No.4) Bill, 2012

      5.    The Constitution (One Hundred Eighteenth Amendment) Bill, 2012

      6.    The Banking Laws (Amendment) Bill, 2011

      7.    The Companies Bill, 2012

      III – BILLS INTRODUCED IN RAJYA SABHA

      1.    The Child Labour (Prohibition and Regulation) Amendment Bill, 2012

      2.    The Indecent Representation of Women (Prohibition) Amendment Bill, 2012

      IV – BILLS PASSED BY RAJYA SABHA

      1.      The North Eastern Areas (Reorganisation) Amendment Bill, 2012

      2.       The Prevention of Money- Laundering (Amendment) Bill, 2012

      3.      The Constitution (One Hundred Seventeenth Amendment) Bill, 2012

      4.      The Appropriation (No.4) Bill, 2012

      5.      The Constitution (One Hundred Eighteenth Amendment) Bill, 2012

      6.      The Unlawful Activities (Prevention) Amendment Bill, 2012

      7.      The Banking Laws (Amendment) Bill, 2012

      8.      The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2012

      V - BILLS PASSED BY BOTH HOUSES

      1.    The North Eastern Areas (Reorganisation) Amendment Bill, 2012

      2.     The Prevention of Money-Laundering (Amendment) Bill, 2012

      3.    The Appropriation (No.4) Bill, 2012

      4.    The Constitution (One Hundred Eighteenth Amendment) Bill, 2012

      5.    The Unlawful Activities (Prevention) Amendment Bill, 2012

      6.    The Banking Laws (Amendment) Bill, 2012

      7.    The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2012

      *******

      YSK(Parl.Aff.)

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