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    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    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
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    August 15, 2026
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    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Trump call with Putin underway as he hopes for ceasefire progress in Russia-Ukraine war

      May 19, 2025

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      Washington, May 19 (AP) President Donald Trump has grown “frustrated" with Russian leader Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, the White House said on Monday ahead of separate calls Trump is holding in hopes of making progress toward a ceasefire in the war in Ukraine.

      Trump expressed his hopes for a “productive day” Monday — and a ceasefire — in a social media post over the weekend. His effort will also include calls to NATO leaders. But ahead of the call, Vice President JD Vance said Trump is “more than open” to walking away from trying to end the war if he feels Putin isn't serious about negotiation.

      The call was underway shortly after 10 a.m., press secretary Karoline Leavitt said, promising additional details after it concludes.

      Kremlin spokesman Dmitry Peskov called the conversation “important, given the talks that took place in Istanbul” last week between Russian and Ukrainian officials, the first such negotiations since March 2022.

      Trump has struggled to end a war that began with Russia's invasion in February 2022, and that makes these conversations a serious test of his reputation as a deal maker after having claimed he would quickly settle the conflict once he was back in the White House, if not even before he took office.

      “He's grown weary and frustrated with both sides of the conflict,” White House press secretary Karoline Leavitt told reporters Monday ahead of the call. “He has made it clear to both sides that he wants to see a peaceful resolution and ceasefire as soon as possible.” The Republican president is banking on the idea that his force of personality and personal history with Putin will be enough to break any impasse over a pause in the fighting.

      “I'd say we're more than open to walking away,” Vance told reporters before leaving Rome after meeting with Pope Leo XIV. Vance said Trump has been clear that the US “is not going to spin its wheels here. We want to see outcomes”.

      Trump's “sensibilities are that he's got to get on the phone with President Putin, and that is going to clear up some of the logjam and get us to the place that we need to get to”, said Trump's envoy, Steve Witkoff. “I think it's going to be a very successful call.” Trump's frustration builds over failure to end war Still, there are fears that Trump has an affinity for Putin that could put Ukraine at a disadvantage with any agreements engineered by the US government.

      Bridget Brink said she resigned last month as the US ambassador to Ukraine "because the policy since the beginning of the administration was to put pressure on the victim Ukraine, rather than on the aggressor, Russia”.

      Brink said the sign that she needed to depart was an Oval Office meeting in February where Trump and his team openly berated Zelenskyy for not being sufficiently deferential to them.

      “I believe that peace at any price is not peace at all,” Brink said. “It's appeasement, and as we know from history, appeasement only leads to more war.” Trump's frustration about the war had been building before his post Saturday on Truth Social about the coming calls.

      Trump said his discussion with Putin would focus on stopping the “bloodbath” of the war. It also will cover trade, a sign that Trump might be seeking to use financial incentives to broker some kind of agreement after Russia's invasion led to severe sanctions by the United States and its allies that have steadily eroded Moscow's ability to grow.

      Trump's hope, according to the post, is that “a war that should have never happened will end”.

      Vance said Trump would press Putin on whether he was serious about negotiating an end to the conflict, saying Trump doesn't believe he is and that Trump may wash his hands of trying to end the war.

      “It takes two to tango,” Vance said, adding that “if Russia is not willing to do that, then we're eventually just going to have to say, this is not our war. It's Joe Biden's war, it's Vladimir Putin's war".

      His treasury secretary, Scott Bessent, said Sunday on NBC's “Meet the Press” that Trump had made it clear that a failure by Putin to negotiate “in good faith” could lead to additional sanctions against Russia.

      Bessent suggested the sanctions that began during the administration of Democratic President Joe Biden were inadequate because they did not stop Russia's oil revenues, due to concerns that doing so would increase US prices.

      The United States sought to cap Russia's oil revenues while preserving the country's petroleum exports to limit the damage from the inflation that the war produced.

      No ceasefire but an exchange of prisoners Putin recently rejected an offer by Zelenskyy to meet in-person in Turkey as an alternative to a 30-day ceasefire urged by Ukraine and its Western allies, including Washington.

      Those talks ended Friday after less than two hours, without a ceasefire in place. Still, both countries committed to exchange 1,000 prisoners of war each, with Ukraine's intelligence chief, Kyrylo Budanov, saying on Ukrainian television Saturday that the exchanges could happen as early as this week.

      While wrapping up his four-day trip to the Middle East, Trump said Friday that Putin had not gone to Turkey because Trump himself wasn't there.

      “He and I will meet, and I think we'll solve it or maybe not,” Trump told reporters after boarding Air Force One. “At least we'll know. And if we don't solve it, it'll be very interesting.” Zelenskyy met with Trump's vice president, JD Vance, and top diplomat, Secretary of State Marco Rubio, in Rome on Sunday, as well as European leaders, intensifying his efforts before the Monday calls.

      The Ukrainian president said on the social media site X that during his talks with the American officials, they discussed the negotiations in Turkey and that “the Russians sent a low level delegation of non-decision-makers”.

      He also said he stressed that Ukraine is engaged in ”real diplomacy” to have a ceasefire.

      “We have also touched upon the need for sanctions against Russia, bilateral trade, defense cooperation, battlefield situation and upcoming prisoners exchange,” Zelenskyy said. “Pressure is needed against Russia until they are eager to stop the war.” The German government said Chancellor Friedrich Merz and French, British and Italian leaders spoke with Trump late Sunday about the situation in Ukraine and his upcoming call with Putin. A brief statement gave no details of the conversation, but said the plan is for the exchange to be continued directly after the Trump-Putin call.

      In a post on X about the conversation, French President Emmanuel Macron said that Putin on Monday “must show he wants peace by accepting the 30-day unconditional ceasefire proposed by President Trump and backed by Ukraine and Europe”.

      The push came as the Kremlin launched its largest drone barrage against Ukraine since the start of the full-scale invasion in 2022, firing a total of 273 exploding drones and decoys, Ukraine's air force said Sunday. The attacks targeted the country's Kyiv, Dnipropetrovsk and Donetsk regions.

      Witkoff spoke Sunday on ABC's “This Week” and Brink appeared on CBS' “Face the Nation." (AP) PY PY

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