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    Asian shares edge higher after Wall Street climb, even as Brent oil keeps rising
    Rupee falls 11 paise to 96.36 against US dollar in early trade
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    Government Expands FTAs, Export Promotion Measures to Diversify Export Markets
    PLI Schemes Attract Over ₹2.40 Lakh Crore Investment, Generate More Than 14.15 Lakh Jobs
    SC issues notice on Venugopal Dhoot's plea against order upholding separate insolvency for VIL, VOVL
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    India’s 8th Trade Policy Review at WTO Scheduled on 21 and 23 July 2026
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    Central Bureau of Narcotics (CBN) India thwarts illegal trafficking of 12 crore Tramadol Hydrochloride, a.k.a. “fighter drug” tablets under “Ope...
    Trump imposes 50 per cent tariffs on Canadian goods, citing disputes over autos, alcohol and cheese
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    July 22, 2026
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    Oil-driven inflation pressures may prompt higher interest rates, despite equity gains led by artificial-intelligence and semiconductor shares.
    Asian equity markets largely rose following Wall Street gains led by artificial-intelligence and semiconductor shares. Rising crude oil prices are identified as a renewed inflation risk that could encourage central banks to raise interest rates, slowing economic activity and affecting equity valuations. Japan's reliance on imported energy and the effects of a weaker yen on trade values and energy costs are also highlighted.
    July 22, 2026
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    Foreign exchange market volatility pressures the rupee as oil-linked geopolitical risks boost safe-haven dollar demand and prompt market monitoring.
    Foreign exchange market movement saw the rupee depreciate against the US dollar amid higher crude oil prices, geopolitical tensions affecting oil-shipment security, and safe-haven demand for the dollar. RBI measures intended to attract overseas deposits were reported to support market confidence through foreign-currency inflows. Dealers were monitoring possible RBI participation through state-owned banks to moderate currency volatility while permitting gradual exchange-rate adjustment and preventing disorderly market movements.
    July 22, 2026
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    Rules-based multilateral trade engagement guides India's policy review, highlighting digital reforms, trade facilitation and clarification of market measures.
    India's WTO Trade Policy Review reaffirms commitment to a transparent, rules-based, inclusive and development-oriented multilateral trading system. It identifies reforms in trade facilitation, digital customs, logistics modernisation, quality infrastructure, Digital Public Infrastructure, innovation, sustainability, agricultural resilience and regional trade agreements. WTO Members recognised India's economic resilience and customs and digital modernisation, while seeking clarification on trade and investment regimes, Quality Control Orders, trade-remedy measures and WTO reforms.
    July 22, 2026
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    Financial inclusion expands universal banking, social insurance, pensions and collateral-free credit for underserved households and entrepreneurs.
    Financial inclusion is pursued through universal banking under Pradhan Mantri Jan Dhan Yojana, social-security coverage through life, accident and pension schemes, and credit access for underserved borrowers. Pradhan Mantri Mudra Yojana provides collateral-free institutional finance to micro and small business units for income-generating activities. The Stand-Up India Scheme supports Scheduled Caste, Scheduled Tribe and women entrepreneurs through loans for greenfield projects in manufacturing, trading, services and agriculture-allied activities.
    July 21, 2026
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    Foreign exchange contravention liability requires evidence that the person was responsible for the overseas transfer in question.
    Foreign exchange transfer for the 2009 South Africa cricket tournament was examined under the Foreign Exchange Management Act after funds were moved to an overseas entity without prior Reserve Bank approval. The appellate tribunal set aside the penalty imposed on Lalit Modi, finding no material establishing that he was in charge of the relevant affairs or personally responsible for the alleged contravention. Liability for a foreign-exchange contravention must rest on evidence connecting the person proceeded against with responsibility for the impugned transaction.
    July 21, 2026
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    Rural infrastructure financing under RIDF supports irrigation, roads, water supply, cooperative digitisation, producer organisations and climate-resilient livelihoods.
    Rural Infrastructure Development Fund financing supports rural infrastructure in Haryana, including irrigation, roads and drinking-water assets. Rural cooperative strengthening includes digitisation and financial viability of Primary Agricultural Credit Societies, alongside promotion and financial support for Farmer Producer Organisations. Climate-resilient measures include watershed development, groundwater management, micro-irrigation, direct seeding of rice and vegetable clusters, supplemented by livelihood training for rural women and agricultural lending and project-appraisal support.
    July 21, 2026
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    Supreme Court proceedings address juvenile adult trials, insolvency, electoral representation, environmental funds and foreign-exchange complaint requirements.
    Supreme Court proceedings covered election representation, criminal justice, insolvency and regulatory compliance. The Court considered challenges concerning political-party merger approval, separate insolvency proceedings for group entities, and espionage charges. It sought responses on an appeal mechanism for persons excluded from the National Register of Citizens and alleged non-utilisation of environmental relief funds. Criminal matters included medical assessment for interim bail, a fresh trial in a blast case, and the principle that a juvenile accused of murder may face adult trial where statutory conditions for a heinous offence are met.
    July 21, 2026
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    Digital lending safeguards require verified app associations, responsible recovery, data privacy, grievance redressal and reporting channels against illegal loan apps.
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    Authorised Dealer Category-II remittances expand to specified trade and family-maintenance payments under the revised FEMA framework.
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    July 21, 2026
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    Foreign investment regulation: Draft rules propose simpler, principle-based compliance and clearer separation of procedural requirements from investment policy.
    Draft Foreign Exchange Management (Foreign Investment) Rules, 2026 propose a simplified, principle-based foreign investment framework. The proposals rationalise provisions, harmonise definitions, and separate procedural foreign-exchange requirements from foreign direct investment policy and sector-specific conditions. They aim to streamline procedures, reduce compliance burdens, enhance operational flexibility, and apply investor-neutral and investee-neutral provisions while preserving regulatory safeguards. The draft Rules remain subject to public consultation before finalisation.
    July 21, 2026
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    Prepaid payment instrument programme adds mobility and gift card capabilities with digital servicing subject to applicable programme conditions.
    Prepaid payment instrument programme launched for Indian Overseas Bank through CARD91's technology stack, incorporating RuPay National Common Mobility Card and Gift Card capabilities. The programme was implemented following requisite approvals, testing and compliance validation. The RuPay NCMC facility supports prepaid, tap-based payments for metro, bus and parking transactions, subject to the bank's programme conditions and user eligibility. Digital card servicing may include balance enquiry, transaction history, reload or top-up functions, and customer support, subject to applicable programme terms.
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    Production Linked Incentive Schemes strengthen domestic manufacturing through investment support, export growth, employment generation, monitoring and eligibility reforms.
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    July 21, 2026
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    Drone technology collaboration promotes joint manufacturing, technology transfer, rural entrepreneurship and global market access through an integrated industrial ecosystem.
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    July 21, 2026
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    WTO trade policy review will assess India's trade measures, transparency framework, reforms, and responses to member questions.
    India's eighth Trade Policy Review under the World Trade Organization framework examines its trade policies and developments during the 2021-2025 review period. The process uses a Government Report and a Secretariat Report and provides a comprehensive peer examination of border and behind-the-border trade measures to promote transparency, predictability and understanding. The review addresses trade agreements, Goods and Services Tax rationalisation, digital trade-facilitation measures, and Member questions on digitisation, MSMEs, women's economic participation, Viksit Bharat and the Atmanirbhar Bharat Abhiyan.
    July 21, 2026
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    Fisheries subsidy disciplines promote sustainable marine resource use while excluding aquaculture and inland fisheries from their scope.
    The WTO Agreement on Fisheries Subsidies disciplines subsidies concerning marine wild-capture fishing and fishing-related activities at sea. It prohibits subsidies linked to illegal, unreported and unregulated fishing and fishing of overfished stocks, promoting conservation and sustainable use of marine resources. Aquaculture and inland fisheries remain outside its scope. India's fisheries management framework is identified as supporting implementation while preserving policy space and safeguarding the interests of traditional and small-scale fishers.
    July 21, 2026
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    Revised Index of Core Industries adopts a new base year, adds iron ore, and revises sector measurement methodology.
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    July 21, 2026
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    Risk-based export controls exposed alleged pharmaceutical diversion, prompting NDPS enforcement against transnational illicit opioid trafficking networks.
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    July 21, 2026
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    Trade tariffs on Canadian goods target alleged discrimination against American automobiles, alcohol and dairy products under trade law.
    United States trade action imposes tariffs on most Canadian goods, citing alleged discriminatory treatment of American automobiles, alcoholic beverages and dairy products. The measures apply to goods previously protected under the United States-Mexico-Canada Agreement, subject to exclusions for energy products, potash, fish and critical minerals. The stated grounds include Canadian retaliatory tariffs, restrictions on American alcohol sales, treatment of dairy imports, and tariffs on certain United States motor vehicles outside preferential trade treatment.

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      Congress devours govt over serving 'meal in silver plates', asks where is farm loan waiver?

      June 25, 2025

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      Nagpur, Jun 25 (PTI) Congress Legislature Party leader in Maharashtra Vijay Wadettiwar claimed on Wednesday estimate committee members were served meal in silver plates at a conclave and called it "extravagant spending" by the Mahayuti government when the state's finances were under strain.

      The former state minister also targeted the BJP-led government over "deteriorating" law and order situation in Maharashtra, and what he called "internal contradictions" within the ruling coalition which consists of the BJP, NCP and Shiv Sena.

      Speaking to reporters in Nagpur, Wadettiwar questioned the government's priorities, stating, "When the state is virtually on the brink of bankruptcy, what was the need to serve meals in silver plates to members of the Estimates Committees in Mumbai?" He claimed each meal cost Rs 5,000 and so much money was spent by the government at a time when farmers are being denied loan waivers, bonuses are not being paid, and large sections of tribal, social welfare, and Anganwadi schemes are allegedly facing budget cuts.

      Mumbai hosted a two-day conference of the Estimates Committees of Parliament and states from June 23. The event, held at Vidhan Bhavan (legislative complex) in south Mumbai, saw participation of chairpersons and members of such panels of Parliament, states and Union Territory legislatures.

      These financial committees, at the central and state/UT level, examine the expenditure estimates for each administrative department in respective budgets and also utilisation of funds.

      "A majority of farmers in Vidarbha have been denied fresh crop loans. Anganwadi workers (who look after child care centres) aren't paid honorarium on time, and funds for schemes like the Sanjay Gandhi Niradhar Yojana remain pending. Yet, the government chooses to serve meals to estimates committee members in silver plates," Wadettiwar said.

      The opposition legislator maintained this act was nothing, but an insult to the poor.

      His party colleague and Maharashtra Congress president Harshwardhan Sapkal also hit out at the Mahayuti government over the issue of "meal in silver plates".

      "They (estimates committee delegation members) feasted on Rs 5,000 meal served in Rs 550 worth of silver plate each. Was the fund spent linked to the money found in the Dhule government guest house when the state estimates committee was touring?" the MPCC chief asked in Mumbai.

      Last month, a huge amount of cash was recovered from a room in the government guest house in Dhule district ahead of the visit of state estimates committee members.

      "They have no money for farmers' loan waivers or even Rs 2,100 for a poor sister, but they have no shortage of funds for lavish banquets," Sapkal remarked.

      Citing an incident in Pune, where a BJP office-bearer allegedly molested a policewoman, CLP leader Wadettiwar questioned the Mahayuti government's moral authority to uphold law and order.

      "If even women police personnel are not safe, what does that say about law and order? The Chief Minister (who also holds the home portfolio) is from the BJP. Will women get justice when BJP men are accused of such acts?" he asked.

      Raising concerns over the recently approved Maharashtra Shaktipeeth Expressway, Wadettiwar pointed to growing opposition among farmers, whose lands are likely to be acquired for the mega project.

      "Some ministers in the Cabinet opposed the project, but that's not enough. If Hasan Mushrif and Prakash Abitkar (both ministers) truly object to it, they should quit the government. Mere token dissent while clinging to power is hypocrisy," the former minister emphasised.

      The 802-km-long expressway will link Pavnar in Wardha district (in Vidarbha) with Patradevi in Sindhudurg district on the Maharashtra-Goa border.

      The Congress MLA accused the Mahayuti government of indulging in "double standards", saying it has no money for the poor, but at the same time the ruling coalition is showing no restraint in spending on political elites.

      Meanwhile, Shiv Sena (UBT) Rajya Sabha MP Sanjay Raut, whose party is an ally of the Congress, also hit out at the state government over the issue of corruption.

      "The corruption taking place in Maharashtra cannot be compared to any scam in the world. It is a very high-level scam," Raut alleged. PTI MR PR RSY

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