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    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
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    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
    Show AI Summary
    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
    Show AI Summary
    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
    Show AI Summary
    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
    Show AI Summary
    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
    Show AI Summary
    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
    Show AI Summary
    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
    Show AI Summary
    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
    Show AI Summary
    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
    Show AI Summary
    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
    Show AI Summary
    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
    Show AI Summary
    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.

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      Trump's EPA targets environmental rules projected to save billions - and many thousands of lives

      June 5, 2025

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      Washington, Jun 5 (AP) When the head of the Environmental Protection Agency announced a wide-ranging rollback of environmental regulations, he said it would put a “dagger through the heart of climate-change religion” and introduce a “Golden Age” for the American economy.

      What Lee Zeldin didn't mention: how ending the rules could have devastating consequences to human health.

      The EPA-targeted rules could prevent an estimated 30,000 deaths and save USD 275 billion each year they are in effect, according to an Associated Press examination that included the agency's own prior assessments as well as a wide range of other research.

      It's by no means guaranteed that the rules will be entirely eliminated; they can't be changed without going through a federal rulemaking process that can take years and requires public comment and scientific justification.

      But experts say the numbers are conservative and that even a partial dismantling of the rules would mean more pollutants such as smog, mercury and lead — and especially more tiny airborne particles that can lodge in lungs and cause health problems.

      It would also mean higher emissions of the greenhouse gases driving Earth's warming to deadlier levels.

      “More people will die,” said Cory Zigler, a professor of biostatistics at Brown University who has studied air pollution deaths from coal-fired power plants. “More of this type of pollution that we know kills people will be in the air.” What went into AP's examination of the pollution rules The AP set out to look at what could happen if all the rules were eliminated, by first examining exhaustive assessments the EPA was required to produce before the rules were approved.

      Though the agency's priorities can change as presidential administrations change, the methods for the assessments have been largely standard since Ronald Reagan's presidency and are deeply rooted in peer-reviewed scientific research.

      The AP used those and eight different government and private group databases for its estimate of financial costs, some death estimates and analysis of pollution trends.

      AP performed additional analysis of potential deaths by drawing on peer-reviewed formulas and scientific research on the impacts of increased heat and pollution. And AP vetted its work with multiple outside health experts, who said it is scientifically justified, but likely an undercount.

      Multiple experts say the science behind the rules is strong, and they pointed to the rigorous process that must be followed to change them, including requirements for public comment.

      Zeldin acknowledged as much last month.

      “I'm not going to prejudge outcomes with what will be a lot of rulemaking,” Zeldin said in April.

      Virtually all the benefits from the rules come from restricting the burning of coal, oil and natural gas. The fossil fuel industry was a heavy contributor to President Donald Trump's 2024 presidential campaign and Republicans overall.

      In announcing the proposed changes, the EPA repeatedly cited the costs of the rules and omitted the benefits in all but one instance.

      Calculating costs and benefits is contentious Asked for comment on the AP findings, an EPA spokesperson said the agency's plans would “roll back trillions in regulatory costs and hidden taxes' on US families.” “Unlike the Biden EPA attempts to regulate whole sectors of our economy out of existence, the Trump EPA understands that we do not have to choose between protecting our precious environment and growing our economy,” spokesperson Molly Vaseliou said.

      Scott Segal, an attorney at Bracewell LLP who represents energy and manufacturing interests, suggested that EPA analyses under the Biden administration emphasised worst-case scenarios, inflated health benefit claims and missed the big-picture economic benefits of booming industry.

      “If you only count lives saved by regulation, not lives harmed by regulation, the math will always favour more regulation,” Segal said. “This framing misses the larger point: public health isn't just about air quality -- it's also about job security, housing, access to medical care, and heating in the winter." The EPA regulatory analyses are immense documents that numerous health and environment researchers and former officials say are grounded in science, not politics.

      For example, in January 2024, the EPA produced a 445-page analysis of tightening standards on dangerous particle pollution that cited more than 90 different scientific publications, along with scores of other documents. The Biden EPA presented four different regulatory scenarios and ultimately chose one of the middle options.

      Two experts who reviewed AP's work said the EPA documents that underpinned the analysis were themselves conservative in their estimates. University of Washington health and environment professors Kristi Ebi and Howard Frumkin said that's because EPA looked at added heat deaths and air pollution mortality, but did not include climate change's expected deaths from increased infectious disease, flooding and other disaster factors.

      “This is a rigorous, compelling and much-needed analysis,'' said Frumkin, who was appointed director of the CDC's National Center for Environmental Health during George W. Bush's administration. ”It makes clear that regulatory rollbacks by the Trump administration will have major, direct consequences for health and well-being. Because of these regulatory rollbacks and funding cuts, Americans will die needlessly." That's a sentiment echoed by two former Republican EPA administrators, William Reilly and Christine Todd Whitman, who served in the George Bush and George W. Bush administrations respectively.

      “This administration is endangering all of our lives — ours, our children, our grandchildren,” said Whitman, who led EPA under George W. Bush.

      How regulations helped clear the air A visit to Evansville, Indiana, helps show how EPA regulations have made a difference.

      The city of about 115,000 lies where the state's southwest tip meets Kentucky at the curving Ohio River. Industry lines the banks and coal barges float past carrying loads destined to fuel power plants.

      Kirt Ethridge, 30, grew up in Evansville and still lives there. As a child, he recalls looking down from high ground into the bowl-shaped valley where the heart of the city lies and seeing a haze of pollution atop it. He thought that was normal.

      He didn't think much of the looming smokestacks of the coal-fired power plants and factories that ringed the city, nor the line of inhalers waiting on a bench before he and his classmates ran the mile. He suffered asthma attacks in class, sometimes more than once a week, that sent him to the nurse's office. Once, he was rushed to the hospital in an ambulance.

      “It's a very scary feeling, particularly as a kid, to not be able to get enough air in your lungs,” he said, describing it as like “breathing through a straw.” In southwestern Indiana, coal-fired power plants were to blame for between 19,000 and nearly 23,000 deaths from 1999 to 2020, according to work by Zigler published in the journal Science that examined death rates among Medicare recipients and modeled where plants' pollution would spread.

      Nationally, he and his team found a sharp decline in air pollution deaths from coal-fired power plants after the mid-2000s, from an average of 43,000 a year to just 1,600 a year in 2020, with a similar cut in particle pollution. That's when two different forces came into play: Cheaper and less polluting natural gas pushed aside dirtier and costlier coal, while at the same time stricter regulations required more pollution control devices such as scrubbers.

      Duke Energy operates its biggest power plant near Evansville — Gibson Station, which can power about 2.5 million homes. Emissions have declined significantly as the company installed scrubbers that pull unwanted chemicals out of smokestacks, along with other pollution control technology. Duke Energy spokeswoman Angeline Protegere said the scrubbers were a response to “regulations over the years as well as market factors.” Put simply, the air got cleaner around places like Evansville. Vanderburgh County and neighboring counties violated national annual air standards for fine particles from 2005 to 2010, but no longer do, even as standards have tightened.

      The same is true across the United States. The amount of tiny airborne particles in the last 10 years nationwide is one-third lower than 2000-2009, EPA statistics show. Smog pollution is down nearly 15 per cent and sulfur dioxide has plunged 80 per cent.

      “The Clean Air Act, the EPA's founding legislation, has been a powerful engine for improving public health as our air has grown visibly clearer and cleaner,” said Gina McCarthy, who headed the EPA under President Barack Obama and served as Biden's White House climate adviser. “Millions of Americans have avoided illnesses, hospital visits, and premature deaths thanks to EPA's cleaner car and truck standards in concert with rules that limit industrial pollution.” Five rules saving more than USD 200 billion a year Five rules together were estimated to have more than $200 billion a year in net benefits, based on EPA documents that estimated reduced illnesses and deaths and the costs for companies to comply.

      Three rules dealt with cars and trucks. The “clean car rule” is a tightening of EPA emission standards for vehicles that was supposed to take effect for 2027 model years and eventually have annual net benefits of more than USD 100 billion a year, according to the agency's 884-page regulatory analysis. The EPA estimated that over the next three decades this rule alone would prevent 7.9 billion tons of heat-trapping carbon dioxide, 8,700 tons of particulate matter and 36,000 tons of nitrogen oxides.

      Two other proposed rules — one that deals with car models from 2023 to 2027 and another aimed at heavy trucks and buses — are estimated to save nearly $38 billion a year combined through reduced health problems from air pollution, according to EPA's own detailed calculations.

      EPA plays up costs, plays down benefits of targeted rules Almost none of those benefits are to be found in 10 fact sheets the EPA produced in conjunction with Zeldin's announcement. Nine make no mention of benefits from the rules, while eight mention the costs.

      In 17 of the 20 rules with explicit cost-benefit analyses, AP found that estimated benefits are larger than the costs — and sometimes far larger.

      For example, Biden's proposed power plant rule was designed to save more than USD 24 billion a year, prevent about 3,700 annual premature deaths and 3 million asthma incidents from fossil fuel-powered plants, according to EPA documents last year and work by the Environmental Protection Network. Under Trump, the EPA's fact sheet on that rule notes nearly USD 1 billion in costs but nothing about the far higher estimated benefits.

      Another rule the EPA updated last year sets standards for pollution permitted in the air, called National Ambient Air Quality Standards. The update, required by the Clean Air Act, cuts allowable soot particles by 25 per cent to reflect new science on the harms from such pollution. The EPA in Biden's time calculated the change would annually save as much as USD 46 billion, 4,500 premature deaths and 800,000 asthma incidents.

      But the new EPA fact sheet only mentions the estimated costs of the change — about USD 614 million — and not benefits estimated at 76 times that amount.

      “The human body count and human health toll of particulate matter alone is just absolutely massive,” said K. Sabeel Rahman, a Cornell law professor who was a top federal regulatory officer from 2021 to 2023. “Literally tens of thousands of people will lose their lives" if the standard is rolled back, he said.

      A penguin-shaped nebulizer In southwest Indiana, many people have noticed a positive difference from the EPA regulations. And they're concerned about changes.

      In Bloomfield, Jessica Blazier's 11-year-old son Julian has multiple health conditions that make him more sensitive to air quality, including nonallergic rhinitis, which inflames his nasal passage and makes breathing “feel like a knife sometimes," in his words. Jessica Blazier said the proposed EPA rule rollbacks are “almost adding insult to injury in our particular circumstance.” In Evansville, Ethridge is now raising kids of his own, including a 5-year-old daughter who was born early and doesn't tolerate respiratory illnesses well. Whenever Eliza gets sick, she uses a children's nebulizer that is shaped like a penguin and stored in an igloo-shaped case.

      “I want to raise my kids in Evansville,” he said. “I don't want to raise my kids in a bowl of pollution.” (AP) GSP

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