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    Department of Commerce Reviews Flue-Cured Virginia (FCV) Tobacco Market Situation in Andhra Pradesh
    Ministry of Corporate Affairs’ ‘Corporate Mitra Scheme’ Awareness Webinar Successfully Organized by IICA Shillong for the youth and enterprises ...
    FM Sitharaman directs Income Tax dept to work for benefit of common people
    Crime Branch chargesheets 10 accused in separate fraud & forgery cases in Jammu
    ED chargesheets 3 founders of Gameskraft under PMLA
    IDFC FIRST Bank Q1FY27 Results: Highest Ever PAT of ₹1,075 Crore, Up 132.4% YoY
    India placed in lower 10 pc US tariff bracket; reaffirms commitment to BTA
    Ratnaveer Precision Engineering Reports 20% Revenue Growth and 21% PAT Growth in Q1 FY27
    India placed in lower tariff tier at 10 pc under US Section 301 measures on forced labour: Govt
    ED report says CMRL ex-MD cited Veena’s ties to then Kerala CM for payments
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
    Trump says US will investigate EU trade practices, claiming bloc unfairly fined tech giants
    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
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    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
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    July 27, 2026
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    FCV tobacco market stability remains under review through coordinated measures to protect growers and maintain transparent auction operations.
    FCV tobacco market stability was reviewed with emphasis on protecting growers' interests and considering long-term measures for the sector. The delegation inspected Tobacco Board auction operations, interacted with growers on prevailing market conditions, and noted the transparent and orderly conduct of auctions. The Government is monitoring developments and examining appropriate measures with the State Government, Tobacco Board and stakeholders to safeguard FCV tobacco farmers' interests.
    July 27, 2026
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    Corporate Mitra Scheme supports MSMEs through accredited professionals delivering affordable compliance, financial, taxation, accounting and governance assistance.
    The Corporate Mitra Scheme seeks to strengthen MSMEs by connecting them with accredited para-professionals providing affordable compliance and business-support services. Corporate Mitras are envisaged to assist with regulatory compliance, finance, taxation, accounting and governance, allowing enterprises to focus on growth. The scheme also trains young graduates in industry-relevant skills and creates employment opportunities. IICA Shillong serves as the nodal agency for coordination, stakeholder liaison, promotion and awareness in the North Eastern Region.
    July 26, 2026
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    Tax administration must deliver timely lawful service, protect public assets, and uphold integrity in tax collection.
    Tax administration should assist common citizens by handling matters within departmental authority without unnecessary delay, while remaining within applicable rules. Government departments should protect public land from illegal occupation and expedite lawful land transfers, permissions, construction arrangements and procurement for departmental premises and accommodation. Integrity is the essential principle for officials performing tax-collection functions.
    July 26, 2026
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    Investment fraud and forged residence certificates prompted chargesheets over alleged misappropriation, fabricated revenue records, land purchases and employment access.
    Criminal chargesheets concerned alleged investment fraud through false promises of high returns and alleged misappropriation of investor funds, involving a company stated to be unregistered with SEBI, RBI and the relevant Registrar of Companies. A separate chargesheet concerned alleged conspiracy to procure permanent resident certificates using forged revenue records, with the certificates allegedly used for land purchases and government employment. Forensic examination reportedly found that the relevant revenue documents were not genuine according to official records.
    July 25, 2026
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    Money-laundering allegations in online rummy gaming prompt prosecution proceedings and asset attachment over suspected cheating of users.
    Money-laundering proceedings concerning online real-money rummy operations include a prosecution complaint against Gameskraft Technologies, RummyTime Technologies, founder-directors and associated persons. The allegations concern proceeds of crime said to arise from cheating users through rummy applications and from an addictive environment encouraging repeated wagering. The proceedings also involve provisional attachment, seizure and freezing of financial holdings, equity interests and immovable properties alleged to be connected with suspected proceeds of crime. The founder-directors' arrests were declared invalid by the Karnataka High Court, while the investigating agency proposes to challenge that order.
    July 25, 2026
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    Banking financial performance reflected loan and deposit growth, improved asset quality, stronger margins and prudent contingency provisioning.
    Quarterly financial performance reflected growth in customer business, loans and deposits, expansion in lending portfolios, an improved CASA ratio and lower cost of funds. Asset quality improved through reductions in gross and net non-performing assets, while profitability indicators improved in relation to net interest margin, cost efficiency, provisions, net profit and return on assets. The bank received credit-guarantee claims for its microfinance portfolio and created a contingency provision for macroeconomic and geopolitical uncertainty. Capital adequacy and common equity tier-one ratios were also reported.
    July 25, 2026
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    Forced-labour import tariffs place Indian goods under an additional duty while exemptions preserve access for specified exports.
    A 10 per cent Section 301 additional import duty applies to specified Indian goods over and above ordinary most-favoured-nation duty, following a forced-labour-related investigation. Generic pharmaceuticals, smartphones, other specified products, and goods already subject to Section 232 sectoral duties remain outside the additional levy. The textile-specific mechanism has not yet been operationalised for India, while tariff-rate quota concessions using US-origin cotton and fibre were announced for certain other economies. India continues engagement on a bilateral trade agreement and tariff access for garments using American inputs.
    July 25, 2026
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    Copper Clad Laminate expansion advances through policy and rights-issue approvals, supporting domestic electronics manufacturing and strategic growth initiatives.
    The company reported progress on a proposed Copper Clad Laminate manufacturing project, including in-principle approval under the Gujarat Electronics Policy and substantial project completion. The facility is intended to support domestic electronics manufacturing and reduce import dependence. It also reported upgraded credit ratings, enhanced rated bank facilities, and stock-exchange in-principle approvals for a proposed rights issue supporting expansion and strategic growth initiatives.
    July 25, 2026
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    US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
    US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
    July 25, 2026
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    Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
    A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
    Show AI Summary
    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
    Show AI Summary
    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
    Show AI Summary
    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
    Show AI Summary
    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
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    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.

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      Death toll in central Texas flash floods rises to 78 as sheriff says 10 campers remain missing

      July 7, 2025

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      Kervile (Texas), Jul 7 (AP) Families sifted through waterlogged debris Sunday and stepped inside empty cabins at Camp Mystic, an all-girls summer camp ripped apart by flash floods that washed homes off their foundations and killed at least 78 people in central Texas.

      Rescuers maneuvering through challenging terrain continued their desperate search for the missing, including 10 girls and a counselor from the camp. For the first time since the storms began pounding Texas, Governor Greg Abbott said there were 41 people confirmed to be unaccounted for across the state and more could be missing.

      In Kerr County, home to Camp Mystic and other youth camps in the Texas Hill Country, searchers have found the bodies of 68 people, including 28 children, Sheriff Larry Leitha said in the afternoon.

      He pledged to keep searching until “everybody is found” from Friday's flash floods. Ten other deaths were reported in Travis, Burnet, Kendall, Tom Green and Williamson counties, according to local officials. The death toll is certain to rise over the next few days, said Colonel Freeman Martin of the Texas Department of Public Safety.

      The governor warned Sunday that additional rounds of heavy rains lasting into Tuesday could produce more life-threatening flooding, especially in places already saturated.

      Families were allowed to look around the camp beginning Sunday morning. One girl walked out of a building carrying a large bell. A man, who said his daughter was rescued from a cabin on the highest point in the camp, walked a riverbank, looking in clumps of trees and under big rocks.

      A woman and a teenage girl, both wearing rubber waders, briefly went inside one of the cabins, which stood next to a pile of soaked mattresses, a storage trunk and clothes. At one point, the pair doubled over, sobbing before they embraced.

      One family left with a blue footlocker. A teenage girl had tears running down her face looking out the open window, gazing at the wreckage as they slowly drove away.

      Searching the disaster zone While the families saw the devastation for the first time, nearby crews operating heavy equipment pulled tree trunks and tangled branches from the water as they searched the river.

      With each passing hour, the outlook of finding more survivors became even more bleak. Volunteers and some families of the missing who drove to the disaster zone searched the riverbanks despite being asked not to do so.

      Authorities faced growing questions about whether enough warnings were issued in an area long vulnerable to flooding and whether enough preparations were made.

      President Donald Trump signed a major disaster declaration Sunday for Kerr County, activating the Federal Emergency Management Agency to Texas.

      The president said he would likely visit Friday. “I would have done it today, but we'd just be in their way,” he told reporters before boarding Air Force One back to Washington after spending the weekend at his golf club in Bedminster, New Jersey. “It's a horrible thing that took place, absolutely horrible.” The destructive, fast-moving waters rose 26 feet (8 meters) on the river in only 45 minutes before daybreak Friday, washing away homes and vehicles. The danger was not over as flash flood watches remained in effect and more rain fell in central Texas on Sunday.

      Searchers used helicopters, boats and drones to look for victims and to rescue people stranded in trees and from camps isolated by washed-out roads. Officials said more than 850 people were rescued in the first 36 hours.

      Prayers in Texas — and from the Vatican Governor Greg Abbott vowed that authorities will work around the clock and said new areas were being searched as the water receded. He declared Sunday a day of prayer for the state.

      "I urge every Texan to join me in prayer this Sunday — for the lives lost, for those still missing, for the recovery of our communities, and for the safety of those on the front lines,” he said in a statement.

      In Rome, Pope Leo XIV offered special prayers for those touched by the disaster. History's first American pope spoke in English at the end of his Sunday noon blessing, “I would like to express sincere condolences to all the families who have lost loved ones, in particular their daughters who were in summer camp, in the disaster caused by the flooding of the Guadalupe River in Texas in the United States. We pray for them.” The hills along the Guadalupe River are dotted with century-old youth camps and campgrounds where generations of families have come to swim and enjoy the outdoors. The area is especially popular around the Independence Day holiday, making it more difficult to know how many are missing.

      Harrowing escapes from floodwaters Survivors shared terrifying stories of being swept away and clinging to trees as rampaging floodwaters carried trees and cars past them. Others fled to attics inside their homes, praying the water wouldn't reach them.

      At Camp Mystic, a cabin full of girls held onto a rope strung by rescuers as they walked across a bridge with water whipping around their legs.

      Among those confirmed dead were an 8-year-old girl from Mountain Brook, Alabama, who was at Camp Mystic, and the director of another camp up the road.

      Two school-age sisters from Dallas were missing after their cabin was swept away. Their parents were staying in a different cabin and were safe, but the girls' grandparents were unaccounted for.

      Locals know the Hill Country as “ flash flood alley” but the flooding in the middle of the night caught many campers and residents by surprise even though there were warnings.

      Warnings came before the disaster The National Weather Service on Thursday advised of potential flooding and then sent out a series of flash flood warnings in the early hours of Friday before issuing flash flood emergencies — a rare alert notifying of imminent danger.

      At the Mo-Ranch Camp in the community of Hunt, officials had been monitoring the weather and opted to move several hundred campers and attendees at a church youth conference to higher ground. At nearby Camps Rio Vista and Sierra Vista, organisers also had mentioned on social media that they were watching the weather the day before ending their second summer session Thursday.

      Authorities and elected officials have said they did not expect such an intense downpour, the equivalent of months' worth of rain for the area.

      Kerrville City Manager Dalton Rice said authorities are committed to a full review of the emergency response, including how the public was alerted to the storm threat.

      Trump, asked whether he was still planning to phase out the Federal Emergency Management Agency, said that was something “we can talk about later, but right now we are busy working.” He has previously said he wants to overhaul if not completely eliminate FEMA and has been sharply critical of its performance.

      Trump also was asked whether he planned to rehire any of the federal meteorologists who were fired this year as part of widespread government spending reductions.

      “I would think not. This was a thing that happened in seconds. Nobody expected it. Nobody saw it. Very talented people there, and they didn't see it,” the president said. (AP) OZ OZ

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