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    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
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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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    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
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    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    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.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.

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      House Republicans pass Trump's big bill of tax breaks, programme cuts after all-night session

      May 22, 2025

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      Washington, May 22 (AP) House Republicans stayed up all night to pass their multitrillion-dollar tax breaks package, with Speaker Mike Johnson defying the sceptics and unifying his ranks to muscle President Donald Trump's priority bill to approval on Thursday.

      With last-minute concessions and stark warnings from Trump, the Republican holdouts largely dropped their opposition to salvage the “One Big Beautiful Bill” that's central to the GOP agenda.

      The House launched debate before midnight and by sunrise the vote was called, 215-214, with Democrats staunchly opposed. It next goes to the Senate.

      “To put it simply, this bill gets Americans back to winning again," said Johnson, R-La, just before the vote.

      The outcome caps an intense time on Capitol Hill, with days of private negotiations and public committee hearings, many happening back-to-back, around-the-clock.

      Republicans insisted their sprawling 1,000-page-plus package was what voters sent them to Congress — and Trump to the White House — to accomplish. They believe it will be “rocket fuel”, as one put it during debate, for the uneasy US economy.

      Trump himself demanded action, visiting House Republicans at Tuesday's conference meeting and hosting GOP leaders and the holdouts for a lengthy session on Wednesday at the White House.

      Before the vote, the administration warned in a pointed statement that “failure to pass this bill would be the ultimate betrayal”.

      Central to the package is the GOP's commitment to extending some USD 4.5 trillion in tax breaks they engineered during Trump's first term in 2017, while adding new ones he campaigned on during his 2024 campaign, including no taxes on tips, overtime pay, car loan interest and others.

      To make up for some of the lost tax revenue, the Republicans focused on changes to Medicaid and the food stamps programme, largely by imposing work requirements on many of those receiving benefits. There's also a massive rollback of green energy tax breaks from the Biden-era Inflation Reduction Act.

      Additionally, the package tacks on USD 350 billion in new spending, with about USD 150 billion going to the Pentagon, including for the president's new “Golden Dome” defence shield, and the rest for Trump's mass deportation and border security agenda.

      All told, the nonpartisan Congressional Budget Office estimates 8.6 million fewer people would have health care coverage and 3 million less people a month would have SNAP food stamps benefits with the proposed changes.

      The CBO said the tax provisions would increase federal deficits by USD 3.8 trillion over the decade, while the changes to Medicaid, food stamps and other services would tally USD 1 trillion in reduced spending.

      The lowest-income households in the US would see their resources drop, while the highest ones would see a boost, it said.

      House Democratic leader Hakeem Jeffries of New York read letters from Americans describing the way the program cuts would hurt them. "This is one big ugly bill,” he said.

      As the minority, without the votes to stop Trump's package, Democrats instead offered up impassioned speeches and procedural moves to stall its advance. As soon as the House floor reopened for debate, the Democrats forced a vote to adjourn. It failed.

      In “the dark of night they want to pass this GOP tax scam”, said Rep. Pete Aguilar, D-Calif.

      Other Democrats called it a “big, bad bill” or a “big, broken promise”.

      Pulling the package together and pushing it to passage has been an enormous political lift for Johnson, with few votes to spare from his slim GOP majority whose rank-and-file Republicans have conflicting priorities of their own.

      Conservatives, particularly from the Freedom Caucus, held out for steeper spending cuts to defray costs piling onto the nation's USD 36 trillion debt.

      At the same time, more moderate and centrist GOP lawmakers were wary of the changes to Medicaid that could result in lost health care for their constituents. And some worried the phaseout of the renewable energy tax breaks will impede businesses using them to invest in green energy projects in many states.

      One big problem had been the costly deal with GOP lawmakers from New York and other high-tax states to quadruple the USD 10,000 deduction for state and local taxes, called SALT, to USD 40,000 for incomes up to USD 500,000, which was included in the final product.

      For every faction Johnson tried to satisfy, another would roar in opposition.

      Late in the night, GOP leaders unveiled a 42-page amendment with a number of revisions.

      The changes included speedier implementation of the Medicaid work requirements, which will begin in December 2026, rather than January 2029, and a faster roll back of the production tax credits for clean electricity projects, both sought by the conservatives.

      Also tucked into the final version were some unexpected additions — including a USD 12 billion fund for the Department of Homeland Security to reimburse states that help federal officials with deportations and border security.

      And in a nod to Trump's influence, the Republicans renamed a proposed new children's savings programme after the president, changing it from MAGA accounts — money account for growth and advancement — to simply “Trump” accounts.

      Rep. Erin Houchin, R-Ind., said Americans shouldn't believe the dire predictions from Democrats about the impact of the bill. “We can unlock the Golden Age' of America,” she said, echoing the president's own words.

      By early morning hours, the chief holdouts appeared to be falling in line. Rep. Ralph Norman, R-SC, said they “got some improvements”.

      But Republican, Rep. Thomas Massie of Kentucky, a deficit watcher who had been publicly criticized by Trump, remained unmoved. “This bill is a debt bomb ticking,” he warned.

      Final analysis of the overall package's costs and economic impacts are still being assessed.

      Along with extending existing tax breaks, it would increase the standard income tax deduction, to USD 32,000 for joint filers, and boost the child tax credit to USD 2,500.

      There would be an enhanced deduction, of USD 4,000, for older adults of certain income levels, to help defray taxes on Social Security income.

      To cut spending, those seeking Medicaid health care, who are able-bodied adults without dependents, would need to fulfil 80 hours a month on a job or in other community activities.

      Similarly, to receive food stamps through SNAP, those up to age 64, rather than 54, who are able-bodied and without dependents, would need to meet the 80 hours a month work or community engagement requirements.

      Additionally, some parents of children older than 7 years old would need to fulfill the work requirements.

      Republicans said they want to root out waste, fraud and abuse in the federal programmes. (AP) PY PY

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