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    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
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    Parliament passes The Bankers' Books Evidence Bill, 2026
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    August 11, 2026
    Show AI Summary
    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
    Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
    August 11, 2026
    Show AI Summary
    Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
    NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
    August 11, 2026
    Show AI Summary
    Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
    Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
    August 11, 2026
    Show AI Summary
    Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
    Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
    August 11, 2026
    Show AI Summary
    Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
    Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
    August 11, 2026
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    Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
    Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
    August 11, 2026
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    Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
    Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
    August 11, 2026
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    Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
    Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
    August 10, 2026
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    GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
    Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
    August 10, 2026
    Show AI Summary
    Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
    Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
    August 10, 2026
    Show AI Summary
    Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
    Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
    August 10, 2026
    Show AI Summary
    Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
    Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
    August 10, 2026
    Show AI Summary
    High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
    Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
    August 10, 2026
    Show AI Summary
    MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
    Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
    August 10, 2026
    Show AI Summary
    Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
    Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
    August 10, 2026
    Show AI Summary
    Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
    Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
    August 10, 2026
    Show AI Summary
    Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
    August 10, 2026
    Show AI Summary
    Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
    Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
    August 10, 2026
    Show AI Summary
    Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
    Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.

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      Customs & Trade

      Trump departs G7 early as conflict between Israel, Iran shows signs of intensifying

      June 17, 2025

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      Kananaskis (Canada), Jun 17 (AP) President Donald Trump abruptly left the Group of Seven summit Monday, departing a day early as the conflict between Israel and Iran intensified and the US leader declared that Tehran should be evacuated “immediately.” World leaders had gathered in Canada with the specific goal of helping to defuse a series of global pressure points, only to be disrupted by a showdown over Iran's nuclear programme that could escalate in dangerous and uncontrollable ways. Israel launched an aerial bombardment campaign against Iran four days ago.

      At the summit, Trump warned that Tehran needs to curb its nuclear programme before it's “too late.” He said Iranian leaders would “like to talk” but they had already had 60 days to reach an agreement on their nuclear ambitions and failed to do so before the Israeli aerial assault began. “They have to make a deal,” he said.

      Asked what it would take for the US to get involved in the conflict militarily, Trump said Monday morning, “I don't want to talk about that.“ So far, Israel has targeted multiple Iranian nuclear programme sites but has not been able to destroy Iran's Fordo uranium enrichment facility.

      The site is buried deep underground — and to eliminate it, Israel may need the 30,000-pound (14,000-kilogramme) GBU-57 Massive Ordnance Penetrator, the US bunker-busting bomb that uses its weight and sheer kinetic force to reach deeply buried targets. Israel does not have the munition or the bomber needed to deliver it. The penetrator is currently delivered by the B-2 stealth bomber.

      By Monday afternoon, Trump warned ominously on social media, “Everyone should immediately evacuate Tehran!” Shortly after that, Trump decided to leave the summit and skip a series of Tuesday meetings that would address the ongoing war in Ukraine and global trade issues.

      As Trump posed for a picture Monday evening with the other G7 leaders, he said simply, “I have to be back, very important." Canadian Prime Minister Mark Carney, the host, said, “I am very grateful for the president's presence and I fully understand." Crises abound The sudden departure only heightened the drama of a world that seems on verge of several firestorms. Trump already has hit several dozen nations with severe tariffs that risk a global economic slowdown. There has been little progress on settling the wars in Ukraine and Gaza.

      But in a deeper sense, Trump saw a better path in the United States taking solitary action, rather than in building a consensus with the other G7 nations of Canada, France, Germany, Italy, Japan and the United Kingdom.

      British Prime Minister Keir Starmer, French President Emmanuel Macron, Italian Premier Giorgia Meloni and German Chancellor Friedrich Merz held an hourlong informal meeting soon after arriving at the summit late Sunday to discuss the widening conflict in the Mideast, Starmer's office said.

      And Merz told reporters that Germany was planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that “Iran must under no circumstances be allowed to acquire nuclear weapons-capable material.” The G7 leaders all signed a joint statement Monday night saying Iran “can never have a nuclear weapon” as they urged a “broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza.” Trump, for his part, said Iran “is not winning this war. And they should talk and they should talk immediately before it's too late.” But by early Monday evening, as he planned to depart Kananaskis and the Canadian Rocky Mountains, Trump seemed willing to push back against his own supporters who believe the U.S. should embrace a more isolationist approach to world affairs. It was a sign of the heightened military, political and economic stakes in a situation evolving faster than the summit could process.

      “AMERICA FIRST means many GREAT things, including the fact that, IRAN CAN NOT HAVE A NUCLEAR WEAPON. MAKE AMERICA GREAT AGAIN!!!” Trump posted on Truth Social, his social media platform.

      It's unclear how much Trump values the perspective of other members of the G7, a group he immediately criticized while meeting with Carney. The U.S. president said it was a mistake to remove Russia from the summit's membership in 2014 and doing so had destabilised the world. He also suggested he was open to adding China to the G7.

      High tension As the news media was escorted from the summit's opening session, Carney could be heard as he turned to Trump and referenced how the US leader's remarks about the Middle East, Russia and China had already drawn attention to the summit.

      “Mr. President, I think you've answered a lot of questions already,” Carney said.

      The German, UK, Japanese and Italian governments had each signaled a belief that a friendly relationship with Trump this year can help keep public drama at a minimum, after the US president in 2018 opposed a joint communique when the G7 summit was last held in Canada.

      Going into the summit, there was no plan for a joint statement this year.

      The G7 originated as a 1973 finance ministers' meeting to address the oil crisis and evolved into a yearly summit meant to foster personal relationships among world leaders and address global problems. It briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its aggressive 2022 invasion of that nation.

      Beyond Carney and Starmer, Trump had bilateral meetings or pull-aside conversations with Merz, Japanese Prime Minister Shigeru Ishiba and European Commission President Ursula von der Leyen.

      He talked with Macron about “tariffs, the situation in the Near and Middle East, and the situation in Ukraine,” according to Macron spokesperson Jean-Noël Ladois.

      On Tuesday, Trump had been scheduled before his departure to meet with Mexican President Claudia Sheinbaum and Ukrainian President Volodymyr Zelenskyy. Zelenskyy said one of the topics for discussion would be a “defense package” that Ukraine is ready to purchase from the U.S. as part of the ongoing war with Russia, a package whose status might now be uncertain.

      Tariff talk The US president has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. Trump is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire.

      He announced with Starmer that they had signed a trade framework Monday that was previously announced in May. The trade framework included quotas to protect against some tariffs, but the 10% baseline would largely remain as the Trump administration is banking on tariff revenues to help cover the cost of its income tax cuts.

      Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, through some products are still protected under the 2020 US-Mexico-Canada Agreement signed during Trump's first term.

      Merz said of trade talks that “there will be no solution at this summit, but we could perhaps come closer to a solution in small steps.” Carney's office said after the Canadian premier met with Trump on trade that “the leaders agreed to pursue negotiations toward a deal within the coming 30 days.” (AP) NSA NSA

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