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    India, US working towards interim trade agreement: MEA
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    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.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    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.

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      Mamata slams Centre over Pahalgam, Bengal Assembly passes resolution lauding armed forces

      June 10, 2025

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      Kolkata, Jun 10 (PTI) Launching a blistering attack on the BJP-led Centre over the recent terror attack in Pahalgam and its diplomatic handling of Pakistan, West Bengal Chief Minister Mamata Banerjee on Tuesday said India had an "opportunity" to reclaim Pakistan-occupied Kashmir (PoK) during the recent military conflict.

      Addressing the West Bengal Assembly, which unanimously passed a resolution commending the Indian armed forces for their "unwavering courage in safeguarding the nation's security", Banerjee demanded the BJP-led Centre's resignation for what she described as a "colossal lapse in internal security" and a flawed diplomatic strategy to globally corner Pakistan.

      Though the Assembly unanimously adopted a resolution commending the Indian armed forces for their precision strikes on terror hubs across the western border, it notably omitted any mention of the term 'Operation Sindoor', triggering sharp protests and fiery exchanges between the ruling Trinamool Congress and the opposition BJP.

      The resolution, moved by Speaker Biman Banerjee, lauded the armed forces but the omission of 'Operation Sindoor' prompted the BJP to allege a deliberate attempt to downplay the significance of the military operation.

      Amid a stormy political showdown, Banerjee demanded the resignation of the Union government over the Pahalgam attack. "The attack exposes the Centre's failure to protect our citizens. While our jawans showed unmatched bravery, what was the Centre doing about the recurring security breaches?," she said.

      "Why were no security forces or police personnel present at the spot of the terror attack? Why was not a single terrorist caught? How did such an attack happen in a high-security zone?" she asked.

      Slamming the Centre's diplomatic approach towards Pakistan, the CM said, "We had an opportunity to take control of PoK. Instead, Pakistan has been allowed in a committee on terrorism created by the UN. Is there a problem in our diplomatic strategy?" Pakistan, which will serve as a non-permanent member of the UN Security Council for the 2025-26 term, has been appointed as the chair of the Council's Taliban Sanctions Committee and the vice-chair of the Counter-Terrorism Committee.

      Calling External Affairs Minister S Jaishankar "a good person, a capable bureaucrat," she nonetheless raised concerns about India's global diplomatic standing.

      "How did this happen? Were we lacking in diplomatic efforts? Pakistan is even getting IMF loans. I don't know if there is an issue with our diplomacy, but we are clearly not able to corner them internationally," Banerjee said.

      Despite her scathing criticism of the Centre, the CM backed the resolution, saying, "I support the resolution because I think this strike was important to send a strong message. I pay my respects to those who lost their lives. Terrorism can never be forgiven. We salute the bravery of our armed forces." She also took a veiled swipe at Prime Minister Narendra Modi, accusing him of prioritising publicity over governance.

      "You just roam around promoting sindoor. We respect sindoor. You don't respect women. Why didn't (the Prime Minister) visit the attack site?" she asked, prompting loud chants of "Modi-Modi" from the BJP benches.

      Questioning the government's outreach efforts post-Operation Sindoor, Banerjee said, "Why didn't the PM or Defence Minister go abroad themselves to explain the situation? Why send parliamentary delegations composed of opposition MPs?" In a final jab, she referred to reports of Pakistani spies being arrested from Gujarat. "How did information from Modi-Shah's state reach Pakistan?" she asked.

      The opposition BJP hit back, with Leader of Opposition Suvendu Adhikari demanding to know why the term 'Sindoor' was omitted from the resolution.

      "Why is there an objection to the word 'Sindoor' in the proposal? Why is the name missing?" Adhikari asked, accusing the TMC of "undermining the significance" of the operation.

      BJP MLA Agnimitra Paul questioned Banerjee's stance on past terror attacks, saying, "Why didn't Mamata Banerjee urge Prime Minister Manmohan Singh to retaliate after 26/11?" To this, Banerjee retorted, "Are you talking politics or fashion?" referring to Paul's past career as a fashion designer.

      "The BJP is incompetent. A shame to the country. Is he the Leader of the Opposition? What a disgrace," Banerjee said.

      Adhikari further claimed that four TMC leaders, including ministers Firhad Hakim, Udayan Guha, and Naren Chakraborty, had made negative remarks about Operation Sindoor during the debate.

      While Hakim and Chakraborty remained silent, Guha said defiantly, "Yes, I said it. I'll say it again and again." Speaker Biman Banerjee responded, "You could've submitted an amendment," further fueling the uproar.

      As chaos erupted repeatedly in the House, Speaker Banerjee had to intervene multiple times to restore order.

      Amid the din, Banerjee continued her attack on the BJP-led Centre, accusing it of "politicising the valour of the armed forces".

      Recalling the Pulwama terror attack of 2019, in which nearly 40 CRPF personnel were killed, she said, "You did politics after Pulwama. Now again you are trying to provoke unrest and do the same." Speaker Biman Banerjee concluded the session by saying, "Seventeen members spoke on this matter. I am proud that this proposal was passed. West Bengal Assembly is the first to pass a resolution lauding the valour of our armed forces." PTI PNT SMY NN PNT MNB

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