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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
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    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
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    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
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    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
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    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    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.

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      Kolhapuri chappals blend heritage and tech as govt pushes for authenticity with QR certification

      July 27, 2025

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      Kolhapur, Jul 27 (PTI) The humble Kolhapuri chappal, one of India's most iconic traditional crafts, is enjoying renewed prominence not only in domestic fashion circles but also in international markets, amid Italian brand Prada being accused of appropriating the footwear.

      The GI-tagged handmade flat leather sandals, known for their intricate craftsmanship and cultural heritage, now carry an added layer of protection and authenticity in the form of QR codes, thanks to recent technological and legal innovations.

      The move aims to check counterfeiting and highlight the identity of the artisan behind each product, boost consumer trust and strengthen the market position of the traditional craftsmen, officials from the government-run Leather Industries Development Corporation of Maharashtra (LIDCOM) said.

      Recently, artisans cried foul after footwear similar to the Kolhapuri chappals featured in Italian luxury fashion brand Prada's new collection, alleging violation of the GI (Geographical Indication) rights.

      Following the row, Prada had acknowledged the sandals showcased in their men's 2026 fashion show were “inspired” by traditional Indian handcrafted footwear. The brand, however, clarified in a reply to the Maharashtra Chamber of Commerce that the showcased sandals are still at the design stage and not yet confirmed for commercial production.

      A team of experts from Prada visited Kolhapur earlier this month to interact with artisans and assess the local footwear manufacturing process.

      Dating back to the 12th century, the footwear has been primarily crafted in Maharashtra's Kolhapur, Sangli and Solapur districts. Its distinctive design, made using naturally tanned leather and handwoven straps, has been preserved through generations of artisans.

      A major boost came in the early 20th century when visionary ruler Chhatrapati Shahu Maharaj promoted it as a symbol of self-reliance and Swadeshi pride.

      He encouraged the use of these chappals, helping elevate the rural craft into a respected cottage industry.

      What was once a humble, coarse village slipper, soon became a symbol of swadeshi identity under the royal patronage.

      To safeguard this cultural legacy and ensure fair recognition for artisans, the Maharashtra and Karnataka governments jointly secured the GI tag in 2019.

      Under international trade rules such as the TRIPS agreement, this GI status legally reserves the rights to manufacture and market Kolhapuri chappals to artisans from specific districts in both the states.

      The certification defines the product as handmade, using traditional techniques and natural leather, with open-toe construction, prohibiting the use of synthetic materials or mechanised processes.

      Going a step further, the LIDCOM has introduced QR-coded certification for each pair of chappals, the corporation said in a statement.

      This digital initiative aims to tackle counterfeiting and highlight the identity of the artisan or self-help group behind each product, it said.

      Buyers scanning the code can access details like name and location of the artisan or production unit, district of manufacture in Maharashtra, craft techniques and raw materials used, validity and status of the GI certification.

      "This initiative not only boosts consumer trust but also strengthens the market position of traditional craftsmen," the LIDCOM said.

      The corporation is now calling upon consumers, designers and the common public to stand in solidarity with India's indigenous craft traditions.

      "Kolhapuri chappals are not just fashion accessories. They are a powerful expression of traditional skill, identity and the dignity of small artisan communities," the statement quoted LIDCOM Managing Director Prerna Deshbhratar as saying.

      Founded in 1974, LIDCOM has been a pivotal institution in empowering rural leather artisans. Through training programmes, market development, design innovation and economic support, the organisation has transformed traditional footwear-making into a symbol of Maharashtra's cultural pride and grassroots economy.

      Kolhapuri chappals have now regained global spotlight, blending heritage with modern relevance.

      More than just the traditional footwear, they are a symbol of skilled artisanry and indigenous pride.

      Since 1974, LIDCOM, also known as the Sant Rohidas Charmodyog and Charmakar Vikas Mahamandal, has played a crucial role in preserving and promoting this heritage craft, as per the statement.

      The corporation has empowered thousands of rural artisans by offering skill development training, encouraging innovation, expanding markets and ensuring sustainable livelihoods, it said.

      On the organisation's vision, Deshbhratar, said, "Kolhapuri chappals are not merely utilitarian items. They embody stories of self-reliance, national pride and a living cultural tradition. Through our efforts, we aim to strengthen the hands that preserve this legacy and inspire generations to come." Apart from economic uplift, the corporation is also committed to cultural conservation.

      It continues to implement a wide range of initiatives -- from developing training centres and empowering self-help groups to building linkages between buyers and suppliers across domestic and international markets -- to ensure the traditional craft survives and thrives in a changing economic landscape, the statement said. PTI MR GK

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