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    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
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    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
    Show AI Summary
    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Show AI Summary
    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
    Show AI Summary
    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
    Show AI Summary
    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
    Show AI Summary
    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
    Show AI Summary
    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
    Show AI Summary
    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
    Show AI Summary
    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
    Show AI Summary
    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
    Show AI Summary
    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
    Show AI Summary
    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
    Show AI Summary
    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
    Show AI Summary
    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.

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      What's targeted in Trump's request for $9.4 billion in budget cuts from Congress

      June 11, 2025

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      Washington Jun 11 (AP) President Donald Trump is looking to cancel USD 9.4 billion in spending already approved by Congress. That's just a sliver of the USD 1.7 trillion that lawmakers OK'd for the budget year ending Sept 30.

      The package of 21 budget rescissions will have to be approved by both chambers of Congress for the cuts to take place, beginning with a House vote expected Thursday. Otherwise, the spending remains in place.

      The White House is betting that cutting federal investments in public media and some foreign aid programs will prove politically popular. Republicans say if this first effort is successful, they hope more rescission packages will follow as they look to continue work by the so-called Department of Government Efficiency once run by billionaire Elon Musk.

      Democrats describe the cuts as inhumane and say they would rip life-saving support from hungry and sick people across the globe. Republicans are describing the cuts as “modest” and say the US will continue to play a critical role in helping the world's most vulnerable people.

      Here's a look at some of the spending the White House is trying to claw back: Public media on the chopping block The Republican president has asked lawmakers to rescind nearly USD 1.1 billion from the Corporation for Public Broadcasting, which represents the full amount it's slated to receive during the next two budget years. Congress has traditionally provided public media with advanced funds to reduce political pressures.

      The corporation distributes the money mostly to public television and radio stations around the country, with some assigned to National Public Radio and the Public Broadcasting System to support national programming.

      The White House says the public media system is politically biased and an unnecessary expense.

      Much of the conservatives' ire is focused on NPR and PBS. “We believe that you all can hate us on your own dime,” said Georgia Rep. Marjorie Taylor Greene, during a hearing in March.

      But about two-thirds of the money goes to more than 1,500 locally owned public radio and television stations. Nearly half of those stations serve rural areas of the country.

      “They want to punish the national guys, that's fine,” said Rep Mark Amodei, a Republican who said he was undecided going into this week's vote. “But I'm trying to get a handle on what it means for my stations in Nevada, because the ability to fundraise at the national level ain't the same as the ability to fundraise in Reno.” The association representing local public television stations warns that many of them would be forced to close if the GOP bill passes. Those stations provide emergency alerts, free educational programming and high school sports coverage and highlight hometown heroes.

      Meanwhile, local radio stations say their share of the allocation provides funding for 386 stations employing nearly 10,000 people. Dozens of stations rely on the public grants for more than half of their budget. Many others for nearly half.

      Some Republicans say they worry about what the cuts would mean for local public stations but tough decisions are necessary.

      Rep Dusty Johnson, R-S.D., said South Dakota Public Broadcasting does a “really good job of covering the state Legislature" and other public affairs.

      “So these rescissions are not going to be comfortable for South Dakota to deal with,” Johnson said. “That being said, we're USD 37 trillion in debt." Funding to combat diseases Trump's administration is looking to claw back about USD 900 million from USD10 billion that Congress has approved for global health programs.

      That includes cancelling USD 500 million for activities related to infectious diseases and child and maternal health and another USD 400 million to address the global HIV epidemic.

      The administration says the USD 500 million rescission for infectious diseases would not reduce treatment but would “eliminate programs that are antithetical to American interests and worsen the lives of women and children, like family planning' and reproductive health,' LGBTQI+ activities, and equity programs.” It makes a similar assurance on the HIV funding, saying it would eliminate “only those programs that neither provide life-saving treatment nor support American interests.” Scores of humanitarian aid groups have asked lawmakers to oppose the proposed cuts. Catholic Relief Services called on donors to contact their members of Congress to urge them to vote against the bill. Without the US assistance, "countless lives are at risk, and the needs will continue to rise,” said the plea to supporters.

      The importance of the United States' contribution to the global?HIV?response cannot be overstated, according to the Joint United Nations Program on HIV/AIDS. It says the President's Emergency Plan for AIDS Relief, or PEPFAR, has saved more than 26 million lives and averted almost 5 million new HIV infections since it was launched in 2003 under President George W. Bush, a Republican.

      “Instead of facing a death sentence, people supported by PEPFAR are raising families, building their communities, and helping their communities grow and develop,” said Rep. Rosa DeLauro, D-Conn.

      Refugee assistance The Trump administration is looking to cancel USD 800 million, or a quarter of the amount Congress approved, for a program that provides emergency shelter, water and sanitation, and family reunification for those forced to flee their own country. The program also helps vetted refugees who come to the US get started in their new country.

      The White House says “these funds support activities that could be more fairly shared with non-US Government donors, providing savings to the U.S. taxpayer.” Refugees International urged Congress to reject what it described as a reckless proposal.

      Promoting stability About 45 per cent of the savings sought by the White House would come from two programs designed to boost the economies, democratic institutions and civil societies in developing countries.

      The administration wants to claw back USD 2.5 billion of the USD 3.9 billion approved for the Development Assistance program at the US Agency for International Development and about USD 1.7 billion, or nearly half of the funds, dedicated to the State Department's Economic Support Fund.

      The administration says in its request to Congress that the Development Assistance account is supposed to fund programs that work to end extreme poverty and promote resilient democratic societies, but in practice many of the programs “conflict with American values” and bankroll corrupt leaders' evasion of responsibilities to their citizens while providing "no clear benefit to Americans.” US leaders have often argued over the years that helping to eradicate conditions that lead to political upheaval abroad is not just the right thing to do but also the smart thing.

      “By helping stem pandemics and war and helping countries become healthy, free-market democracies, we are actually helping our own country,” said Sen. Dick Durbin, D-Ill.

      Republicans are rejecting the dire warnings. Rep Robert Aderholt, R-Ala., said “ waste, fraud and abuse is what this is all about.” (AP) RD

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