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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
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    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
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    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
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    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
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    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Operation Sindoor not over yet, it showed world indigenous weapons' power: PM Modi

      May 30, 2025

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      Kanpur (UP), May 30 (PTI) India demonstrated the power of its indigenous weapons during Operation Sindoor which made "Pakistan plead to stop the war", Prime Minister Narendra Modi said on Friday and warned the action was "not over yet".

      During his visit here to inaugurate and lay the foundation stones for 15 development projects worth over Rs 47,600 crore, the PM addressed a rally and said he was to attend the programme on April 24 but had to cancel it due to the Pahalgam terror attack two days prior.

      As many as 26 people, including Kanpur businessman Shubham Dwivedi, died in the dastardly terror attack at the verdant meadows of Baisaran in Jammu and Kashmir's Pahalgam.

      In retaliatory action, India struck terror infrastructure in Pakistan and Pakistan-occupied Kashmir two weeks later, which triggered a four-day military standoff with the neighbouring country.

      The prime minister began his speech by referring to the Pahalgam massacre and said, "Kanpur's son Shubham Dwivedi also became a victim of that barbarity." "We all can feel the pain, suffering and anger of our daughter Aishanya (Shubham's widow). The world witnessed the same anger of our sisters and daughters in the form of Operation Sindoor." "Operation Sindoor is not over yet. It showed the world power of indigenous weapons and Make in India. We destroyed terrorist hideouts in Pakistan by going hundreds of miles inside. Indian weapons, Brahmos missiles entered enemy territory and wreaked havoc," Modi told the rally.

      He said the heroics of the Indian armed forces forced the Pakistani Army to "plead to stop the war" and asserted that India would no longer be intimidated by the threat of the nuclear bomb nor would it make a decision on that basis.

      Saluting the bravery of the armed forces' personnel, the prime minister reiterated India's uncompromising stance against terrorism.

      "The enemy, who was pleading during Operation Sindoor, should not be under any illusion, Operation Sindoor has not ended yet," Modi said and added that Pakistan's ploy of state and non-state actors was not going to work anymore.

      With his remark drawing cheers from the crowd, the prime minister sought to strike a chord of local sentiments by saying, "If I say in simple Kanpuriya language, the enemy will be struck down ('haunk diya jaayegaa') wherever it is." Laying out India's three principles in the fight against terror, Modi said, "First, India will give a befitting reply to every terrorist attack with the timing, manner, and the condition of the reply to be decided by our armies themselves." "Second, India will no longer be scared of the threat of atom bombs nor would it make a decision on that basis. And third, India will see the masters of terror and the government patronising terror in the same light." Highlighting India's growing defence capabilities, the prime minister said, "Our Indian weapons, the BrahMos missile entered the enemy's territory and wreaked havoc. They blasted wherever they targeted. We have got this power from the resolve of Aatmanirbhar Bharat." Turning to Kanpur's development, he emphasised the city was playing a pivotal role in India's defence manufacturing growth.

      "There is an old ordnance factory in Kanpur. We have converted seven such ordnance factories into big modern companies. The Kanpur node of the defence corridor is a big centre of Aatmanirbhar Bharat in the defence sector." "Big companies in the defence sector are coming here. The production of AK 203 rifles has begun in Amethi. The new address of BrahMos missile that did not let the enemies sleep during Operation Sindoor is Uttar Pradesh," Modi said.

      The PM promised employment opportunities, large-scale investments, and renewed industrial growth in Kanpur and said, "Taking Uttar Pradesh and Kanpur to newer heights of development is the first priority of this double-engine government." "The old glory of Kanpur will return again," he declared.

      Slamming the previous dispensations in the state for "ignoring" industrial development, Modi said, "Industries kept migrating from Kanpur. The dynasty-oriented ('Parvarvadi') government kept its eyes closed. The result was that not only Kanpur but the entire Uttar Pradesh lagged behind." About Metro expansion in the city, he said, "Kanpur Metro is the proof of the fact that if there is a government with right intentions, strong willpower and good intentions, then the development of the state is possible." He referenced improvements in road and rail infrastructure, the modernisation of the Kanpur Central Station and the construction of an elevated rail corridor to ease traffic and pollution to bolster his point.

      "The Kanpur Central railway station will get a modern and world-class look like an airport very shortly," the prime minister said while informing the rally that more than 150 railway stations in Uttar Pradesh were being upgraded under the Amrit Bharat scheme.

      Underlining Uttar Pradesh's rise, Modi noted that the state now has the highest number of international airports in the country. "We are making Uttar Pradesh a state of industrial possibilities." He said self-sufficiency in energy and strong infrastructure are key to Uttar Pradesh's industrial growth. He inaugurated several power projects, including the 660 MW Panki, 660 MW Neyveli, 1320 MW Jawaharpur, 660 MW Obra-C, and 660 MW Khurja plants, terming them a major step toward meeting the state's power needs.

      Mentioning welfare measures such as the distribution of Ayushman Vay Vandana Cards for free medical care for the elderly, Modi said these efforts reflect the government's commitment to Kanpur and the state's development.

      About infrastructure, he said UP has moved beyond pothole-filled roads to a state known for its expressways and announced the Kanpur-Lucknow Expressway will reduce travel time to 40-45 minutes with new links to the Purvanchal and Ganga Expressways.

      He also announced Rs 1,000 crore for an elevated rail corridor to ease congestion and save time.

      About the MSME sector, he said earlier definitions discouraged growth, but revised norms and new budget provisions now support expansion. He noted past credit challenges are being addressed through schemes like Mudra Yojana and the Credit Guarantee Scheme.

      MSME loan guarantees have been raised to Rs 20 crore, and credit cards with limits up to Rs 5 lakh are being provided, Modi said.

      "In this budget, we have made income up to Rs 12 lakh completely tax-free. This has given new confidence to crores of middle-class families," he said.

      Concluding his speech, the prime minister said, "We will leave no stone unturned in working hard to take the country and Uttar Pradesh to new heights." Earlier in the day, the prime minister met the family members of Shubham Dwivedi at the Chakeri airport here. PTI CDN NAV MAN NSD NSD

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