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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
    Shri Piyush Goyal Invites Indian and Uzbek Businesses to Co-invest and Co-manufacture; Calls for Doubling Bilateral Trade at India-Uzbekistan Business...
    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
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    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
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    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
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    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.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
    Show AI Summary
    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
    Show AI Summary
    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
    Show AI Summary
    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
    Show AI Summary
    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
    Show AI Summary
    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
    Show AI Summary
    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.

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      Trump is open to regime change in Iran, after his admin said that wasn't goal

      June 23, 2025

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      Washington, Jun 22 (AP) The Trump administration on Sunday sent a series of conflicting messages to Iran — with US officials initially indicating a willingness to resume negotiations after a surprise attack on three of the country's nuclear sites and President Donald Trump talking up the possibility of regime change.

      “It's not politically correct to use the term, 'Regime Change', but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change???” Trump posted on social media. “MIGA!!!" The posting on Truth Social marked something of a reversal from Defence Secretary Pete Hegseth's Sunday morning news conference that detailed the aerial bombing.

      “This mission was not and has not been about regime change,” Hegseth said.

      The Trump administration has made a series of intimidating statements even as it has simultaneously called to restart negotiations, making it hard to get a complete read on whether the US president is simply taunting an adversary or using inflammatory words that could further widen the war between Israel and Iran.

      Up until the US president's post on Sunday afternoon, the coordinated messaging by Trump's vice president, Pentagon chief, top military adviser and secretary of state suggested a confidence that any fallout would be manageable and that Iran's lack of military capabilities would ultimately force it back to the bargaining table.

      Hegseth had said that America “does not seek war” with Iran, while Vice President JD Vance said the strikes have given Tehran the possibility of returning to negotiate with Washington.

      But the unfolding situation is not entirely under Washington's control, as Tehran has a series of levers to respond to the aerial bombings that could intensify the conflict in the Middle East with possible global repercussions.

      Iran can block oil being shipped through the Strait of Hormuz, attack US bases in the region, engage in cyber attacks or double down on a nuclear programme that might seem like more of a necessity after the US strike.

      All of that raises the question of whether the strikes will open up a far more brutal phase of fighting or revive negotiations out of an abundance of caution. Inside the US, the attack quickly spilled over into domestic politics with Trump choosing to spend part of his Sunday going after his critics in Congress.

      Trump, who had addressed the nation from the White House on Saturday night, returned to social media on Sunday to lambaste Rep Thomas Massie, who had objected to the president taking military action without specific congressional approval.

      “We had a spectacular military success yesterday, taking the bomb right out of their hands (and they would use it if they could!)” Trump said as part of the post on Truth Social.

      At their joint Pentagon briefing, Hegseth and Air Force Gen Dan Caine, chairman of the Joint Chiefs of Staff, said that “Operation Midnight Hammer" involved decoys and deception, and met with no Iranian resistance.

      Caine indicated that the goal of the operation — destroying nuclear sites in Fordo, Natanz and Isfahan — had been achieved.

      “Final battle damage will take some time, but initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,” Caine said.

      Vance said in a television interview that while he would not discuss “sensitive intelligence about what we've seen on the ground,” he felt “very confident that we've substantially delayed their development of a nuclear weapon.” Pressed further, he told NBC's “Meet the Press” that “I think that we have really pushed their program back by a very long time. I think that it's going to be many many years before the Iranians are able to develop a nuclear weapon.” The vice president said the US had “negotiated aggressively' with Iran to try to find a peaceful settlement and that Trump made his decision after assessing the Iranians were not acting “in good faith.” "I actually think it provides an opportunity to reset this relationship, reset these negotiations and get us in a place where Iran can decide not to be a threat to its neighbours, not to be a threat to the United States, and if they're willing to do that, the United States is all ears,” Vance said.

      Secretary of State Marco Rubio said on CBS's “Face the Nation” that "there are no planned military operations right now against Iran, unless, unless they mess around and they attack" US interests.

      Trump has previously threatened other countries, but often backed down or failed to follow through, given his promises to his coalition of voters not to entangle the United States in an extended war. It was not immediately clear whether Iran saw the avoidance of a wider conflict as in its best interests.

      Much of the world is absorbing the consequences of the strikes and the risk that they could lead to more fighting across the Middle East after the US inserted itself into the war between Israel and Iran.

      Israeli airstrikes that began on June 13 local time targeted Iran's nuclear facilities and generals, prompting retaliation from Iran and creating a series of events that contributed to the US attack.

      While US officials urged caution and stressed that only nuclear sites were targeted by Washington, Iran criticised the actions as a violation of its sovereignty and international law.

      Iran's foreign minister, Abbas Araghchi, said Washington was “fully responsible” for whatever actions Tehran may take in response.

      “They crossed a very big red line by attacking nuclear facilities," he said at a news conference in Turkey. “I don't know how much room is left for diplomacy.” China and Russia, where Araghchi was heading for talks with President Vladimir Putin, condemned the US military action. The attacks were “a gross violation of international law,” said Russia's Foreign Ministry, which also advocated “returning the situation to a political and diplomatic course.” A Turkish Foreign Ministry statement warned about the risk of the conflict spreading to “a global level”.

      British Prime Minister Keir Starmer said the United Kingdom was moving military equipment into the area to protect its interests, people and allies. His office said he talked on Sunday with Trump about the need for Tehran to resume negotiations, but Trump would have posted his remarks about regime change after their conversation.

      The leaders of Italy, Canada, Germany and France agreed on the need for “a rapid resumption of negotiations.” France's Emmanuel Macron held talks with the Saudi crown prince and sultan of Oman.

      Iran could try to stop oil exports through the Strait of Hormuz, which could create the same kind of inflationary shocks that the world felt after Russia invaded Ukraine in 2022. Oil prices increased in the financial markets as the war between Israel and Iran had intensified, climbing by 21% over the past month.

      The Pentagon briefing did not provide any new details about Iran's nuclear capabilities. Hegseth said the timeline for the strikes was the result of a schedule set by Trump for talks with Iran about its nuclear ambitions.

      “Iran found out" that when Trump "says 60 days that he seeks peace and negotiation, he means 60 days of peace and negotiation," Hegseth said. "Otherwise, that nuclear programme, that new nuclear capability will not exist. He meant it.” That statement was complicated as the White House had suggested last Thursday that Trump could take as much as two weeks to determine whether to strike Iran or continue to pursue negotiations. But the US benefited from Iran's weakened air defences and was able to conduct the attacks without resistance from Iran.

      “Iran's fighters did not fly, and it appears that Iran's surface to air missile systems did not see us throughout the mission," Caine said.

      Hegseth said that a choice to move a number of B-2 bombers from their base in Missouri earlier Saturday was meant to be a decoy to throw off Iranians. Caine added that the US used other methods of deception as well, deploying fighters to protect the B-2 bombers that dropped a total of 14 bunker-buster bombs on Iran's sites at Fordo and Natanz.

      The strikes occurred Saturday between 6:40 pm and 7:05 pm in Washington, or roughly 2:10 am on Sunday in Iran. (AP) SCY SCY

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