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    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
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    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
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
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    August 3, 2026
    Show AI Summary
    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
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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
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Beyond Burn: How WTF Gyms Is Quietly Building India’s Most Profitable Fitness Platform

      August 1, 2025

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      In an industry where headlines have long belonged to high-profile burnouts, one company is quietly rewriting the playbook for India’s fitness infrastructure — without noise, without fundraisers, and without closing a single gym. WTF Gyms, a bootstrapped fitness tech startup led by founder Vishal Nigam, is steadily assembling what could become India’s most profitable and scalable fitness ecosystem — not through celebrity endorsements or multi-crore studios, but by solving the root operational dysfunction most others ignored. “India didn’t need more gyms,” Vishal says. “It needed a better way to run them.” The Rise and Stall of India’s First Fitness Wave Over the past decade, India’s urban fitness boom saw the rise of branded chains with sleek interfaces, glossy memberships, and nine-figure venture rounds. Their growth, however, often masked fragile business models: high capex, premium rent locations, and customer retention strategies that faltered beyond Tier 1 cities. While these brands initially captured mindshare, they struggled to hold onto real estate, margins, or user trust. In the post-pandemic reset, many pulled out of Tier 2/3 cities. Some shuttered gyms without notice. The model that once defined “premium fitness” in India was suddenly retreating — even as demand continued to rise. That’s the gap WTF stepped into. WTF’s Core Insight: Infra, Not Branding, Is the Bottleneck Unlike most new-age fitness brands that started with software or identity, WTF began with a question: Why are thousands of Indian gyms sitting underutilized or failing to scale? The answer was twofold: 1. Gym owners lacked SOPs, tech, and customer lifecycle systems. 2. New operators were burning too much capital building from scratch. WTF designed a solution that flipped both problems. Their model is clear and replicable: • Take over existing gyms on a 5-year lease • Pay owners a fixed monthly rent (₹50K–₹80K) • Standardize tech, branding, staff training, and pricing • Own 100% of revenue, operations, and P&L • Break even at the gym level in 3–6 months There’s no co-ownership, no equity dilution, and no friction. Gym owners hand over control. WTF runs the show — end to end. Why This Model Works (And Scales) The brilliance of the WTF approach is its capital discipline. There is no gym construction, no real estate purchase, and no heavy marketing upfront. Instead, the company leverages India’s 3.5 billion sq. ft. of under-utilized gym infrastructure, and plugs in SOPs, tech, and monetization playbooks. The result? • Over 50 gyms live • 0 closures to date • 100+ gyms targeted by Q3 2025 • Each gym breaks even in ~90 days • No institutional funding raised so far By solving the operational layer, WTF has enabled a gym network that doesn’t bleed — it compounds. “We don’t compete with old gym chains. We replace what they left behind — and make it work,” Vishal explains. The Monetization Engine: 5 Verticals, 1 Gym What truly differentiates WTF Gyms isn’t just its lean execution — it’s the way each gym becomes a revenue flywheel, monetizing every square foot through five integrated verticals: 1. Memberships + Personal Training The core engine of every location. • Dynamic pricing models tailored to local markets • Trainer incentives linked to retention and upsell performance • AI-powered trainer allocation system to boost utilization 2. WTF Everyday Stores (Retail & D2C) Each gym features an in-store retail section connected directly to wtfeveryday.com, offering: • Certified supplements, protein bars, hydration boosters • Branded gear, gym apparel, and merchandise • On-ground sales teams to drive conversion and product trials 3. WTF Academy (Trainer Education) Every WTF Gym doubles up as a certified training center powered by wtfgymsacademy.com. • ACE-aligned personal trainer certification programs • In-person and hybrid learning models • Guaranteed placement within the WTF Gym network • Over 100 students onboarded in Q1 2025 alone 4. WTF Amplify (Ads & Brand Monetization) Through in-gym digital screens and the WTF Member App, WTF offers brands premium fitness media inventory via WTF Amplify at www.wtfamplify.com: • Real-time content delivery on screens across 50+ gyms • App-level native banners for targeted fitness audiences • Monetization of idle visual space with performance tracking 5. WTF Reboot (Corporate Wellness) The company’s fast-scaling B2B vertical, WTF Reboot powered by www.wtfreboot.com, delivers holistic wellness programs to Indian enterprises, including: • On-site fitness assessments and group workouts • Personalized fitness and nutrition plans for employees • Monthly engagement tracking and wellness reporting • Pilots already underway with leading firms across India Each WTF Gym, therefore, becomes much more than a place to work out — it’s a: • Fitness Center (Memberships) • Retail Outlet (WTF Everyday) • Classroom (WTF Academy) • Media Unit (WTF Amplify) • Corporate Wellness Hub (WTF Reboot) This multi-vertical strategy creates operational resilience, diversified revenue, and deep community engagement — all from a single, optimized space. Unit Economics Built for India A typical WTF gym (~3,000 sq. ft.) operates with the following profile: • Revenue: ₹4–5 lakh/month • Costs: ₹3.5–4 lakh/month • Rent: Pre-negotiated fixed rate • Capex: ₹0 (owner bears refurb) • Break-even: Within 90 days • Closure rate: 0% This makes WTF one of the rare fitness companies where growth does not require fresh funding — it only needs replicable playbooks and disciplined execution. A Founder With Operational DNA While many fitness startups have emerged from tech or finance, WTF’s founder comes from the ground. Vishal Nigam spent years embedded in gyms — studying churn, speaking to staff, testing retention flows, and observing what breaks inside Tier 2/3 markets. What he saw was this: no one had truly productized gym operations. “Everyone was trying to reinvent fitness. I just wanted to standardize it,” he says. Today, WTF’s in-house tech stack — covering member management, trainer allocation, revenue tracking, SOP compliance, and upsell automation — is the company’s most defensible asset. And it’s working. Trainer performance is up. Member engagement is tracked in real-time. Every revenue spike has a dashboard trail. The Bigger Picture: Fitness Infra for Bharat While legacy chains built for Delhi, Mumbai, and Bengaluru, WTF is focused on scaling where others exited — Indore, Nagpur, Surat, Jabalpur, and beyond. In these markets: • Rental costs are stable • Word-of-mouth drives acquisition • Members value consistency and community • Trainers seek formal employment pathways By meeting these needs with precision, WTF is building what Cult, Fitternity, and others could never crack: a profitable gym network beyond metros. What’s Next • 100 gyms live by Q3 • Everyday Stores in all locations • Corporate wellness across 50 companies • AI-based fitness journey mapping in-app • Tier 3 rollout to begin in Q4 • Middle East pilot under review for 2026 “We’re not a gym chain. We’re building a nationwide fitness backbone,” Vishal says. Final Word In the noise of India’s startup ecosystem, it’s easy to overlook companies that aren’t shouting. But sometimes, the strongest businesses are the ones quietly doing the work — gym by gym, SOP by SOP. WTF Gyms may not have raised ₹500 crore. But they’ve done something far rarer: built a model that works — profitably, repeatably, and across the heart of India. And that’s how revolutions begin. Learn more: wtfgyms.com | wtfeveryday.com | wtfgymsacademy.com Press Contact: WTF Gyms Media Desk [email protected] New Delhi, India (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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