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    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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    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
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    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
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    August 1, 2026
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    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
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    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.
    August 1, 2026
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
    Show AI Summary
    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
    Show AI Summary
    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
    Show AI Summary
    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.

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      NITI Aayog meeting: Mann seeks special industrial package for border districts in Punjab

      May 24, 2025

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      Chandigarh, May 24 (PTI) Punjab Chief Minister Bhagwant Mann on Saturday sought a special industrial package for the state's six districts that share borders with Pakistan and also demanded a cash incentive for maize cultivation to replace the water-guzzling paddy crop.

      At the meeting of the 10th governing council of the NITI Aayog in Delhi, Mann affirmed Punjab's full alignment with the vision of 'Viksit Bharat @2047', and said that his government is committed to build a 'Rangla Punjab' -- a vibrant, inclusive, and progressive state, according to an official statement.

      'Punjab Vision 2047' launched in 2023 aligns with 'Viksit Bharat' goals with an ambitious target of eight per cent plus annual GDP growth through industrial and service-led development, Mann said, adding that structural reforms are underway to boost business environment along with infrastructure and innovation.

      "We reaffirm Punjab's dedication to cooperative federalism and to building a Viksit Bharat by 2047 through mutual collaboration" he added.

      To develop Punjab as an industrial hub in the country, the state government has strengthened the unified regulator model under 'Invest Punjab', said Mann.

      Opposing unilateral borrowing limit deductions under Article 293, Mann urged inclusion of cess, surcharges and select non-tax revenue in the Centre's divisible pool, adding he proposed increasing vertical devolution to 50 per cent.

      Seeking a special industrial package for border districts, he said industries in these districts are disadvantaged due to proximity to Pakistan.

      Seeking parity with Jammu and Kashmir incentives for industries, Mann sought PLI (production linked incentive) scheme, freight subsidy, tax relief, agro-zones and others for the state.

      The chief minister also asked for infrastructure grants for border resilience so as to ensure comprehensive development of six border districts -- Amritsar, Gurdaspur, Tarn Taran, Ferozepur, Fazilka and Pathankot.

      He said border areas lack support despite high risk and only 101 villages covered under the Vibrant Village scheme.

      Mann also demanded special grants for trauma centres, bunkers, cyber security and resilient infrastructure.

      Seeking upward revision of compensation to farmers having land between fence and border, Mann requested that it should be increased to Rs 30,000 per acre per year against the current compensation of Rs 10,000 per acre.

      Pleading for restoration and increase in daily allowance of border wing home guards, he said it is imperative for strengthening the second line of defence in border areas.

      Mann said earlier, this reimbursement was made by the government of India but was discontinued from financial year 2020-21.

      Seeking a grant of Rs 2,829 crore for the state, Mann said it is necessary to check drug trafficking and upscale border security.

      He said these funds will be utilised for upgrading infrastructure, jail security, de-addiction and others.

      Citing that over 53,000 arrests have been made and 3,579 kg of heroin has been seized so far in anti-drug operations, Mann urged the Union government to install 50 additional jamming systems to counter drones on the 553 km border along with the state.

      He further said in order to revitalize Punjab's economy, it is proposed to develop an economic corridor along the Delhi-Katra Expressway which will pass through Ludhiana, Jalandhar, Kapurthala, Gurdaspur, Patiala, Sangrur, and Malerkotla in Punjab.

      This corridor will serve as a strategic industrial and logistics hub, connecting key regions and facilitating seamless movement of goods and services, said Mann.

      Batting for crop diversification to make agriculture a profitable venture, Mann sought a cash incentive of Rs 17,500 per hectare for maize to replace paddy.

      Demanding adequate representation to Punjab officers and officials in the Chandigarh Administration in the ratio of 60:40, Mann said that the Union Territory is the capital of Punjab and there is a well-established and time honoured convention, since the reorganisation of the State of Punjab in 1966, to fill all civil posts in the Chandigarh administration from personnel drawn from Punjab and Haryana in the ratio of 60:40.

      Raising the issue of immediate release of pending arrears under the Post-Matric Scholarship Scheme for Scheduled Caste Students for Academic Sessions 2017-18, 2018-19 and 2019-20, Mann said Punjab has the highest percentage of Scheduled Caste population (31.94 per cent) in the country and the Post Matric Scholarship scheme for SC Students for pursuing Higher Education was implemented as a 100 per cent Centrally Sponsored Scheme.

      He said this scheme with a 'Committed Liability' of the state at Rs 60.79 crore proved to be highly beneficial for the Scheduled Caste students in Punjab, adding that the government of India changed the criteria of 'committed liability' in 2018.

      Mann said that as per the new criteria, the 'committed liability' of the state government suddenly increased to Rs 800.31 crore for the period 2017-18, 2018-19 and 2019-20, which was a 13 times increase from the previous Rs 60.09 crore in 2016-2017.

      He said the entire accrued liability which resulted on account of sudden change in criteria by the ministry is too huge an amount which cannot be borne by the state government alone.

      So Mann requested the Centre that this backlog amount of Rs 938.26 crore may kindly be released by the Centre, he said.

      Speaking on the issue of desilting of Harike head works, Mann said it is located at the confluence point of rivers Sutlej and Beas and is the main control point for supply of water to South west Punjab, Rajasthan and also controlling flow into Pakistan.

      He said over the years the sedimentation of suspended silt or sand particles in the reservoir has drastically reduced the capacity of the reservoir and the backwater effect of the water required for optimal operation of canals is now being felt up to Kapurthala district.

      Large swaths of agricultural land along the Sutlej and Beas rivers are becoming susceptible to flooding, he said, adding that there is an urgent need for carrying out de-silting of the reservoir at a cost Rs 600 crore approximately. PTI CHS HVA

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