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    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
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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
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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
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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.
August 1, 2026
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Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
July 31, 2026
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Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
July 31, 2026
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Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.

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Customs, DGFT & SEZ

Rajiv Gandhi Centre for Aquaculture Produces Specific Pathogen free L.Vannamei Broodstock for the First Time in India

April 10, 2013

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Dr. E G Silas, renowned Indian Fishery Scientist, former Vice Chancellor of Kerala Agricultural University and Chairman, Scientific Advisory Committee of Rajiv Gandhi Centre for Aquaculture (RGCA) inaugurated the release of SPF L.vannamei broodstock produced by RGCA for the first time in India to Mr. Y Ravi, General Secretary, All India Shrimp Hatchery Association and Mr. D Ramaraj of Society of Aquaculture Professionals and an hatchery operator in the presence of Dr. B Meenakumari, Dy. Director General, Indian Council of Agricultural Research (ICAR), and Ms. Leena Nair, IAS, Chairperson, Marine Products Export Development Authority (MPEDA) and President, RGCA, in a function in Sirkali today.

Specific Pathogen Free (SPF) Litopenaeus vannamei broodstock developed for the first time in India by Rajiv Gandhi Centre for Aquaculture, the R & D arm of the Marine Products Export Development Authority in association with the Oceanic Institute, Hawaii, USA, is ready for supply to hatchery operators at reasonable rate. The primary objective of this initiative is to produce selectively bred Litopenaeus vannamei shrimp broodstock (mother shrimp) that exhibit good hatchery performance for producing high quality shrimp seed which should exhibit fast growth and high survival on commercial shrimp farms in India.

Rajiv Gandhi Centre for Aquaculture is a Society functions under the Marine Products Export Development Authority, a statutory body set up by the Government of India under the MPEDA Act 1972, under the Ministry of Commerce & Industry, Govt. of India, for promotion of export of marine products from India.

During the financial year 2011-12, for the first time in the history of Marine product exports, the export earnings have crossed US$ 3.5 billion. Exports aggregated to 0.86 million tonnes valued at Rs. 16597.23 crores and US$ 3508.45 million. Compared to the previous year, seafood exports recorded a growth of 6.02% in quantity, 28.65% in rupee and 22.81% growth in US$ earning. Frozen Shrimp is the major export value item accounting for 49.63% of the total US dollar earnings. The above was achieved during a period of recession in the international market. One of the major reasons for the increase in production and higher export turnover was due to the introduction of SPF L.vannamei shrimp for Aquaculture production.

Considering the established infrastructure for farming shrimps in India, it is reasonably easy for L.vannamei farming and can substantially contribute to marine product export from the country. However, one of the major obstacles for increasing the L.vannamei production is the non-availability of quality SPF broodstock in India in required quantities.

Currently shrimp hatcheries import L.vannamei broodstock from Broodstock Multiplication Centres in USA, Thailand and Singapore with high shipping cost and transit loss due to mortality. Average cost of broodstock when it reaches the hatchery is estimated at Rs.5000/- and the higher cost of broodstock and transportation ultimately get transferred to the shrimp farmers who purchase seeds at a higher price (Rs. 0.6 per seed). High cost of broodstock is also prompting some hatcheries to source broodstock from shrimp ponds which ultimately results in the production of poor quality seeds and subsequent crop loss to farmers. About 80% of the shrimp farmers are marginal and small scale farmers with 0.5 to 5 Ha water spread area and the success of the crop largely depends on the quality of seeds supplied to the farmers. Hence for sustaining the productivity and profitability of shrimp farmers, it is essential that quality seeds are provided to farmers at reasonable rate.

In this circumstance, MPEDA initiated a collaborative project through RGCA and Oceanic Institute, Hawaii, USA, an affiliate of Hawaii Pacific University and engaged in Aquaculture research since 1960 is a not-for-profit research and development organization dedicated to marine aquaculture, biotechnology, and coastal resource management, to produce selectively bred Litopenaeus vannamei shrimp broodstock that exhibit good maturation/hatchery performance. The production unit of SPF L.Vannamei Broodstock of RGCA is functioning from Mangamaripeta, Visakhapatnam, Andhra Pradesh.

Though L.vannamei is a native to the Pacific coast of central and south America, one of the major reason for L.vannamei’s popularity among shrimp farmers world-wide is due to the availability of selectively bred fast growing improved quality specific pathogen free (SPF) and specific pathogen resistant (SPR) seeds. Selectively bred SPF L.vannamei also has the potential to grow under intensive culture conditions, tolerates a wide range of salinities & temperatures and require only lower protein diet and can also utilize the natural productivity of shrimp ponds in intensive culture conditions. It is generally considered to be more resistant to diseases and can mate and spawn easily under captivity and the survival rates during hatchery rearing are generally higher.

Specific Pathogen Free Post larvae imported from Nucleus Breeding Centre of Oceanic Institute, Hawaii, USA, shall be grown from PL to 40 gms in MPEDA/RGCA facility Vizag.. Six to eight months period is required for growing PL to 40 gms size. The above project has the capacity to produce 45000 number of broodstock annually.

This project shall help Indian farmers to produce 1.35 lakh MT of additional shrimp for export worth around Rs. 4000 crores per annum by utilizing about 10,000 Ha water spread area for two crops per annum.

Most importantly, this initiative of MPEDA will deliver quality broodstock to shrimp hatcheries and thus ensure the supply of quality seeds required for several thousands of small and marginal farmers at affordable price.

The first batch of around 20000 Nos. of high quality SPF L.vannamei broodstock produced at RGCA facility at Visakhapatnam is ready for supply to approved shrimp hatcheries in India at half the price of imported stock.

DS/RK

(Release ID :94595)

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Acts Income Tax