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    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
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    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
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    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.

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      Customs & Trade

      G7 leaders fail to reach ambitious joint agreements on key issues after Trump's exit

      June 18, 2025

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      Kananaskis (Canada), Jun 18 (AP) Six of the Group of Seven leaders discussed Russia's war in Ukraine and the Israel-Iran conflict but failed to reach major agreements on those and many other top issues - closing a summit that was forced to try and show how the wealthy nations' club might still shape global policy despite the early departure of US President Donald Trump.

      Canadian Prime Minister Mark Carney and his counterparts from the UK, France, Germany, Italy and Japan were joined during Tuesday's final sessions by Ukrainian President Volodymyr Zelenskyy and NATO chief Mark Rutte.

      “We need support from allies and I'm here,” Zelenskyy said, before adding, “We are ready for the peace negotiations, unconditional ceasefire. I think it's very important. But for this, we need pressure.” The remaining leaders agreed to jointly attempt to combat what they called non-market policies that could jeopardize global access to critical minerals. They also pledged to limit the downsides of artificial intelligence on jobs and the environment, while still embracing the potential of the “technological revolution.” There was consensus on other issues, but though the summit was meant to showcase unity on top global concerns, no joint statement on the conflict in Ukraine was released.

      Zelenskyy had been set to meet with Trump while world leaders were gathering in the Canadian Rocky Mountain resort of Kananaskis, but that was scrapped. The U.S. also previously signed an agreement granting American access to Ukraine's vast mineral resources.

      A senior Canadian official who briefed reporters at the summit said the U.S. opposed a joint statement on Ukraine amid its efforts to promote negotiations with Russia. The official said it only became clear during the summit's first day on Monday that there wouldn't be a joint statement - though other attendees suggested no consensus agreement was seriously on the table. Emily Williams, a spokeswoman for the prime minister, later retracted the briefing statement and said “no proposed statement regarding Ukraine was distributed to other leaders.” In Trump's absence, the remaining six leaders held an extensive session on Ukraine. Lacking unanimity, individual leaders also met with Zelenskyy to reassure him of their support.

      The summit also was largely overshadowed by a showdown over Iran's nuclear program that could escalate. Israel launched an aerial bombardment campaign against Iran, and Iran has hit back with missiles and drones.

      French President Emmanuel Macron warned against the U.S. and other powers pushing for regime change in Iran, suggesting it could destabilize the greater Middle East.

      "I believe the greatest mistake today would be to pursue regime change in Iran through military means, as that would lead to chaos,” Macron said.

      Before leaving, Trump joined the other leaders in issuing a statement saying Iran “can never have a nuclear weapon” and calling for a “de-escalation of hostilities in the Middle East, including a ceasefire in Gaza.” Getting unanimity - even on a short and broadly worded statement - was a modest measure of success.

      Macron said Carney fulfilled his mission as G7 host by preserving the unity of the multilateral organization. “We shouldn't ask the Canadian presidency to resolve every issue on earth today. That would be unfair,” said Macron, who will host the G7 next year.

      Carney said in his final remarks Tuesday evening that Trump's early exit was about the “extraordinary” situation in the Middle East, not anything that occurred during the summit.

      “There was no problem,” Canada's prime minister said. “Mr. Trump felt it was better to be in Washington, and I can understand that.” Carney said Canada would impose new economic sanctions against Russia and was releasing its own statement offering “unwavering support for a secure and sovereign Ukraine.” Asked if the U.S. pushed to soften any possible joint statement from the gathered leaders on Ukraine, Carney said he consulted with Trump while preparing the language his own country used.

      Still, Trump's departure only served to heighten the drama of a world on the verge of several firestorms - and of a summit deprived early of its most-watched world leader. ` “We did everything I had to do at the G7,” Trump said while flying back to Washington. But things were getting awkward even before he left.

      After the famous photo from the G7 in 2018 featured Trump and then-German Chancellor Angela Merkel displaying less-than-friendly body language, this year's edition included a dramatic eye-roll by Italian Prime Minister Giorgia Meloni as French President Emmanuel Macron whispered something in her ear during a Monday roundtable.

      That, and concerns about the Russia-Ukraine war, little progress on the conflict in Gaza and now the situation in Iran have made things all the more tense - especially after Trump imposed severe tariffs on multiple nations that risk a global economic slowdown.

      Members of Trump's trade team remained in Canada to continue discussing tariffs, including Treasury Secretary Scott Bessent, who sat at the table as world leaders met with Zelenskyy.

      Trump's stance on Ukraine also put him fundamentally at odds with the other G7 leaders, who are clear that Russia is the aggressor in the war. The US declined to join new sanctions against Russia, with Trump saying, “When I sanction a country, that costs the US a lot of money, a tremendous amount of money.” Trump also said at the summit that there would have been no war in Ukraine if G7 members hadn't expelled Putin from the organization in 2014 for annexing Crimea. Kremlin spokesperson Dmitry Peskov said the G7 now looks “very pale and quite useless” compared to “for example, such formats as the G20.” Additionally, the US president has placed greater priority on addressing his grievances with other nations' trade policies than on collaboration with G7 allies.

      He 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.

      One bright spot for Trump during the summit came when he and British Prime Minister Keir Starmersigned a trade framework that was previously announced in May. Trump said British trade was “very well protected” because “I like them, that's why. That's their ultimate protection.” But, while announcing that agreement, Trump brandished pages spelling out the deal and dropped them. Starmer stooped to pick them up, later explaining that he was compelled to ditch diplomatic decorum because anyone else trying to help risked spooking the president's security team.

      “There were quite strict rules about who can get close to the president,” Starmer said, adding that he was “just deeply conscious that in a situation like that it would not have been good for anybody else to have stepped forward.” (AP) NSA NSA

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