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    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.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.

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      2027 Census with caste enumeration schedule announced

      June 4, 2025

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      New Delhi, Jun 4 (PTI) The 2027 Census with caste enumeration will be carried out with the reference date of October 1, 2026 in snow-bound areas like Ladakh and of March 1, 2027 in the rest of the country, the Home Ministry announced on Wednesday.

      It has been decided to conduct Population Census-2027 in two phases along with the enumeration of castes, it said.

      "The reference date for Population Census - 2027 will be 00:00 hours of the first day of March 2027.

      "For the Union Territory of Ladakh and the non-synchronous snow-bound areas of the UT of Jammu and Kashmir and states of Himachal Pradesh and Uttarakhand, the reference date will be 00.00 hours of the first day of October 2026," the ministry said in a statement.

      The notification for the intent of conducting the Population Census with these reference dates will be published in the official gazette "tentatively on 16.06.2025, as per provision of section 3 of Census Act 1948", it said.

      Officials said the second and final phase of the census will begin in February 2027 and conclude on 01 March 2027 (reference date).

      It is immediately not clear whether the exercise to update the National Population Register (NPR) will be carried out along with the Census or not. The government was planning to do it along with the Census in 2020 but the exercise was postponed due to the COVID-19 outbreak.

      The Census of India is conducted under the provisions of the Census Act, 1948 and the Census Rules, 1990.

      The last Census was conducted in 2011 in two phases: Phase I of House Listing (HLO) from April 1 to September 30, 2010) and Phase II of Population Enumeration (PE) (February 9 to 28, 2011) "with reference date - 00:00 hours of the first day of March 2011, except for snow-bound non-synchronous areas of Jammu and Kashmir, Uttarakhand and Himachal Pradesh for which it was conducted during September 11 to 30, 2010 with reference date as 00.00 hours of the first day of October 2010".

      Census 2021 was also proposed to be conducted in two phases with phase I during April-September 2020 and the second phase in February 2021.

      All preparations for the first phase of the Census to be conducted in 2021 were completed and the fieldwork was scheduled to begin in some States/UTs from April 1, 2020. However, due to the outbreak of the COVID-19 pandemic across the country, the census work was postponed.

      The government recently decided that it will carry our caste enumeration along with the census. It will also be the first digital census giving the citizens an opportunity to self-enumerate.

      The entire Census exercise is likely to cost the government over Rs 13,000 crore.

      A meeting of the Union cabinet on December 24, 2019, approved the proposal for conducting the Census of India 2021 at a cost of Rs 8,754.23 crore and updating the NPR at a cost of Rs 3,941.35 crore.

      However, the Budget 2025-26 allocated just Rs 574.80 crore for census surveys and statistics/the Registrar General of India (RGI).

      A government functionary said the budget was a minor issue and could be sorted out without any impediment.

      On April 30, the Cabinet Committee on Political Affairs chaired by Prime Minister Narendra Modi decided to include caste enumeration in the upcoming census.

      The decision demonstrated that the Modi government is committed to the holistic interests and values of the nation and society, an official statement issued by the government on April 30 said.

      According to Article 246 of the Constitution, the Census is a subject listed at 69 in the Union List in the Seventh Schedule.

      While some states have conducted surveys to enumerate castes, these surveys have varied in transparency and intent, with some conducted purely from a "political angle, creating doubts in society", the government had said.

      "Considering all these circumstances, and to ensure that our social fabric does not come under political pressure, it has been decided that caste enumeration should be included in the main census instead of being conducted as a separate survey," the statement said.

      This will ensure that society becomes stronger economically and socially, and the country's progress continues without hindrance. It is noteworthy that when a provision of 10 per cent reservation was made for the economically weaker sections of society, it did not create tension in any section of society, it said.

      Caste was excluded from all census operations conducted since independence.

      In 2010, then Prime Minister Manmohan Singh had assured the Lok Sabha that the matter of caste census would be considered in the Cabinet.

      A Group of Ministers was formed to deliberate on this subject, and most political parties recommended conducting a caste census. However, the previous Congress-led government opted for a survey instead of a caste census, known as the Socio-Economic and Caste Census (SECC).

      The Office of the Registrar General and Census Commissioner had prepared around three dozen questions to be asked to the citizens.

      The questions include whether a family has a telephone, internet connection, mobile or smartphone, bicycle, scooter or motorcycle or moped and whether they own a car, jeep or a van.

      The citizens were be asked questions such as the cereal they consume in the household, the main source of drinking water, the main source of lighting, access to latrine, type of latrine, wastewater outlet, availability of bathing facility, availability of kitchen and LPG/PNG connection, main fuel used for cooking and availability of radio, transistor and television.

      They were to be asked about the predominant material of floor, wall and roof of the census house, the condition of the census house, the total number of persons normally residing in the household, whether the head of the household is a woman, whether the head of the household belongs to Scheduled Caste or Scheduled Tribe, the number of dwelling rooms exclusively in possession of the household and the number of married couples living in the household among others. PTI ACB RT RT

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