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    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    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
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    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
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    August 3, 2026
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    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
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    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
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    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
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    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
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    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.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    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
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    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
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    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
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    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.

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      Democrats see Trump's big bill as key to their comeback. It may not be so easy

      July 4, 2025

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      Windsor Heights (US), Jul 4 (AP) It is big and it is beautiful, says President Donald Trump.

      But for many Democratic leaders, the tax break and spending cut package adopted by Trump's Republican allies in Congress Thursday represents the key to the Democratic Party's resurgence.

      Even before the final vote was tallied, Democratic officials were finalising ambitious plans for rallies, voter registration drives, attack ads, bus tours and even a multiday vigil — all designed to highlight the most controversial elements of Trump's “big beautiful” bill: the deep cuts to the nation's safety net that will leave nearly 12 million more Americans without health coverage and millions of others without food assistance, according to the nonpartisan Congressional Budget Office.

      Indeed, in political battlegrounds across Alaska and Iowa, Pennsylvania and California, Democrats have already begun to use Trump's bill to bludgeon their Republican rivals. Democrats are promising that the package — Trump's biggest domestic policy achievement to date — will be the defining issue of every major election between now and next fall's high-stakes midterms.

      “One thing is abundantly clear: Republicans own this mess and it's an albatross around their necks heading into the midterms,” Democratic National Committee Chair Ken Martin told The Associated Press.

      “This is the least popular legislation in modern history, and the more voters learn about it, the more they hate it. That's a clear directive for Democrats -- we're going to make sure every single voter knows who is responsible.” Even with early public opinion on their side, however, it's far from certain that the Republican budget bill will be the political winner Democrats hope.

      The Democratic brand remains deeply unpopular, the party has no clear leader, its message is muddled and core elements of the Democratic base are frustrated and drifting. Some of the bill's changes won't take effect until after the 2026 midterms, so voters may not have felt the full impact by the time they vote.

      At the same time, it's unclear how many voters are paying attention to the Washington-based debate.

      The Democratic super PAC Priorities USA warned this week that Democrats must work harder if they want their message to break through the polarised media environment.

      “We can't just assume that because we're angry that the voters that we need to communicate with are angry. Everyone needs to step up and realise the enormous challenge that's in front of us,” Executive Director Danielle Butterfield said. “We're nowhere near a good starting place.” At its core, the bill's priority is USD 4.5 trillion in tax breaks enacted in Trump's first term that would expire if Congress failed to act, along with new ones. This includes allowing workers to deduct tips and overtime pay.

      The package includes USD 1.2 trillion in cutbacks to Medicaid and food stamps and a massive rollback of green energy investments. The nonpartisan Congressional Budget Office estimates the package will add USD 3.3 trillion to the deficit over the decade.

      Democrats in Congress were united against the bill, and even some Republicans expressed concerns. But ultimately, Trump persuaded the conservative holdouts to fall in line.

      Democrats' challenge on display Privately, some Democrats conceded that Republicans were smart to pass the bill on the eve of a holiday weekend when fewer voters would be paying attention.

      And as some Democrats in Washington predicted a fierce political backlash across America, the response was somewhat muted Thursday at a Democratic event in Iowa, barely 10 miles from the Iowa State Fairgrounds where Trump later drew thousands for an evening rally.

      An audience of roughly 100 people listened as local Democratic officials railed against the legislation and called on voters to oust Republican Rep. Zach Nunn, the local congressman, for supporting it.

      Audience member Michael Rieck, 69, said Iowa Democrats left him a message about the rally, but when he went online to learn more, “there was nothing”.

      “I texted back to them that I didn't see any advertisement,” he said. “They slowly corrected that. I'm still not impressed with what they did to advertise this event.” Rieck said he wants to see different factions of the party better coordinate their message.

      Meanwhile, progressive activists were moving through Minnesota in a big green bus as part of Fair Share America's 29-stop “stop the billionaire giveaway” tour. The group is focused on Republican-led congressional districts where elected officials have largely stopped having in-person town halls with constituents.

      Fair Share Executive Director Kristen Crowell said the crowds, even some Trump supporters, have been receptive.

      Still, she acknowledged many people don't know what's in the bill.

      “We know we're fighting upstream,” she said. “But when people hear exactly what's in this bill, they're adamantly opposed. I mean, I can tell you, in 17 stops, I've not had one person come up to me and say, You are on the wrong side of this.'” What the polls say The GOP's bill is generally unpopular, according to polling conducted throughout the month of June, although some individual provisions are popular.

      For example, a Washington Post/Ipsos poll found that majorities of US adults support increasing the annual child tax credit and eliminating taxes on earnings from tips, and about half support work requirements for some adults who receive Medicaid.

      On the other hand, the poll found that majorities oppose reducing federal funding for food assistance to low-income families and spending about USD 45 billion to build and maintain migrant detention centers.

      The price tag could be a sticking point. About 6 in 10 US adults in the poll said it was “unacceptable” that the bill is expected to increase the US national debt, currently at USD 36 trillion, by about USD 3 trillion over the next decade.

      But polling indicates that most Americans aren't paying attention to the nuances of the bill, either.

      The Washington Post/Ipsos poll found that only about one-third of US adults have heard “a great deal” or “a good amount” about it.

      Democrats are planning a summer of organising The Democratic National Committee and its allies plan an “organising summer” that will feature town halls, training and voter registration drives in at least 35 competitive congressional districts. The message will be focused heavily on Trump's bill.

      Democratic groups also are expected to unveil a new round of digital attack ads targeting vulnerable Republicans in the coming days.

      Kansas Gov. Laura Kelly, who leads the Democratic Governors Association, said her party must keep the bill's contents at the forefront of people's minds to ensure it's an issue in the 2026 midterm elections — and even the next presidential election in 2028.

      “We'll just have to keep that on the radar,” she said.

      Meanwhile, progressive groups are planning a “Family First” day of action for July 26 in all 50 states. They'll highlight vulnerable Americans hurt by the new Medicaid cuts and hold a 60-hour vigil at the US Capitol.

      “Because people call Medicaid something different in every state, a lot of people didn't realise — until this very moment — that their health care was at stake,” said one of the Family First organizers, Ai-jen Poo, president of the National Domestic Workers Alliance.

      “We have made a promise to each other and to future generations that there will be a safety net in place when we need it. And this is what's being ripped away. And people will not stand for it." (AP) PY PY

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