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    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
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    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
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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.

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      Op Sindoor debate: Oppn seeks answers from govt on 'downed' Indian jets, why PoK not taken back

      July 28, 2025

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      New Delhi, Jul 28 (PTI) The Opposition on Monday targeted the government in Lok Sabha on "security lapses" that led to the Pahalgam attack, saying Home Minister Amit Shah must take responsibility for it, and demanded answers on how many Indian jets were downed during Operation Sindoor and why PoK was not taken back.

      Participating in a special discussion on Operation Sindoor, the Congress MPs questioned the government on the sudden halting of Operation Sindoor and asked "before whom did Prime Minister Narendra Modi surrender".

      Congress deputy leader in Lok Sabha Gaurav Gogoi asked when will India take back its Pakistan-occupied Kashmir (PoK) and also slammed the government over US President Donald Trump claiming "26 times" that he used trade to bring about a "ceasefire" between India and Pakistan.

      "If not today, then when will we take Pakistan-occupied Kashmir back?" Gogoi said.

      The Congress leader said Prime Minister Modi has been saying since the Uri and Pulwama attacks that "humne ghar mein ghus ke mara", "we destroyed terror infrastructure" and is making the same remarks even now after the "most horrendous" terror attack.

      He said the Opposition wants to know from PM Modi that if Pakistan was ready to kneel before India, "why did you stop and before whom did you surrender?" Noting that US President Donald Trump has claimed 26 times that he used the threat of trade to bring about a "ceasefire" between India and Pakistan, he said the American leader has also claimed five to six jets have been downed.

      "That is why we want to know from the defence minister, the country has the courage to listen to the truth, he must answer as to how many fighter jets were downed," Gogoi asked.

      "This information, this truth, is not just for Indian citizens; it is important for soldiers, they are also being lied to," he added.

      Gogoi said there are just "35 Rafale fighter jets in the country" and if some have been downed, "it is a big loss".

      He also asked why Defence Minister Rajnath Singh did not name China during his address in the Lok Sabha and said he must disclose how much support that country was providing to Pakistan during Operation Sindoor.

      Singh had initiated the discussion in the Lok Sabha on "India's strong, successful and decisive Operation Sindoor in response to the terror attack in Pahalgam".

      The government asserted in the Lower House it can go to any extent to uproot terrorism and warned that Operation Sindoor launched terror sites in Pakistan was on pause as the armed forces had achieved its desired objectives, but could resume in case of any misadventure by Islamabad. It also rejected Trump's claims on "ceasefire".

      Referring to Singh's speech, Gogoi said he gave a lot of information, but did not say, as the defence minister, how the terrorists came to Pahalgam.

      "The country wants to know ... 100 days have passed, but this government has not brought the terrorists to justice," he said.

      Taking on the home minister, he said he made claims that the backbone of terrorism has been broken, but the Uri and Pahalgam incidents still happened.

      "Who will take responsibility, the (Jammu and Kashmir) Lieutenant Governor? It is the home minister who must take responsibility. You cannot hide behind the LG. This government is ... so weak that it blamed even tour operators for the Pahalgam attack," the Congress leader said.

      Congress MP Deepender Singh Hooda demanded that India should not play cricket with Pakistan at a time when Operation Sindoor is going on.

      Hooda also batted for modernisation of Indian defence forces and an increase in the defence budget.

      He questioned the "silence" of Prime Minister Modi on claims made by US President Trump of brokering peace between India and Pakistan.

      The government has to decide its relationship with the US, he said, adding that India should ask Trump to stop speaking on India-Pakistan issues.

      The Rohtak MP added that the government should disclose the "terms of the ceasefire" with Pakistan.

      Taking on the government for halting Operation Sindoor at a time when India's security forces had an edge, TMC MP Kalyan Banerjee questioned the announcement of "ceasefire" and likened it to a player "declaring the innings" on the brink of scoring a century.

      "... Have you ever heard that a player batting at 90 and heading towards a century, declare the innings. Only Modiji can do this, no one else... It was a matter of completing 100 runs, ended up being at 90," he said.

      He also asked why PM Modi did not "counter" Trump "even once" on his claims made in a social media post on the role of the US in reaching the ceasefire.

      In a dig at the prime minister, the TMC MP said that in front of the US President, Modi's stature "gets reduced", and his "chest shrinks from 56 to 36 inches".

      NCP (SP) member Supriya Sule questioned the government's handling of Operation Sindoor, saying it cannot be called a success until the terrorists responsible for Pahalgam are caught.

      Urging External Affairs Minister S Jaishankar to reflect on the global calls for de-escalation, she referred to BJP MP Tejasvi Surya's own question about the objective of the war and highlighted the anguish of victims’ families, with one repeatedly asking her, “When will my father get justice?” Sule said Kashmir, once seen as paradise, had become a nightmare for many and mere compensation without jobs or accountability was not enough.

      Samajwadi Party MP Ramashankar Rajbhar said the country wanted "Operation Tandoor" after the Pahalgam terror attack to roast the terrorist responsible for it, and not Operation Sindoor.

      He accused the government of failing to act decisively and questioned the "delay" in the operation, saying that a mission that should have been initiated in three days was carried out after 17 days.

      "The country was so angry (over the Pahalgam attack) that by the third day, people wanted not Operation Sindoor, but Operation Tandoor, that is to throw the terrorists into that tandoor. But instead, the operation happened 17 days later." "Were those who carried out the Pahalgam attack among the 100 terrorists (killed during the operation)? That's the real question," he asked while lauding the country for displaying unity and foiling the enemy's plan of inciting riots.

      On Trump's claims of bringing a ceasefire, he said, "The real Vishwaguru was sitting in the White House," he said.

      Shiv Sena (UBT) MP Arvind Sawant said India should refrain from playing cricket with Pakistan in view of the ongoing tension with the neighbouring country.

      Sawant also wondered why India stopped the war with Pakistan without imposing any conditions when the neighbouring country "was on its knees begging for a ceasefire".

      "If India was in the vantage position, then what stopped the country from reclaiming Pakistan-occupied Kashmir," he said, adding this was an opportune time to teach Pakistan a lesson like India Gandhi had done during the 1971 war. PTI UZM KND RR ASK SKC RT RT RT

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