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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    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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    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Nations gather in Geneva to again confront world's spiralling plastic pollution crisis

      August 5, 2025

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      Geneva, Aug 5 (AP) Nations kicked off a meeting on Tuesday to try to complete a landmark treaty aimed at ending the plastic pollution crisis that affects every ecosystem and person on the planet.

      It's the sixth time negotiators are meeting, and they hope it's the last. A key split is whether the treaty should require cutting plastic production, with powerful oil-producing nations opposed; most plastic is made from fossil fuels. They say redesign, recycling and reuse can solve the problem, while other countries and some major companies say that's not enough.

      Luis Vayas Valdivieso, the chair of the negotiating committee that aims to develop a legally binding instrument on plastic pollution, said: “We are pretty sure nobody wants plastic pollution. Still, we have not been able to find a systematic and effective way to stop it.” An opportunity to end plastic pollution' Valdivieso believes the 10-day gathering in Geneva can be groundbreaking.

      “For the first time in history, the world is within our reach of a legally binding international instrument to end plastic pollution,” said Valdivieso, who is also Ecuador's ambassador to Britain. “We are facing a global crisis. Plastic pollution is damaging ecosystems, polluting our oceans and rivers, threatening biodiversity, harming human health and unfairly impacting the most vulnerable. The urgency is real.” Only a treaty can mobilise the necessary global action, said Angelique Pouponneau, lead ocean negotiator for 39 small island and low-lying coastal developing states. At home in the Seychelles, Pouponneau said, plastic contaminates the fish they eat, piles up on beaches and chokes the ocean to undermine tourism and their way of life.

      “It's the world's final opportunity to get this done and to get it done right,” she said. “It would be a tragedy if we didn't live up to our mandate." United Nations Environment Programme Executive Director Inger Andersen said the issues are complex, but the crisis is “really spiralling” and there's a narrow pathway to a treaty. She said many countries agree on redesigning plastic products to be recycled and improving waste management, for example.

      “We need to get a solution to this problem. Everybody wants it. I've yet to meet somebody who is in favour of plastic pollution,” Andersen said.

      Between 19 million and 23 million tons of plastic waste leak into aquatic ecosystems annually, which could jump 50 per cent by 2040 without urgent action, according to the UN.

      Sharp disagreements on whether to limit plastic production In March 2022, 175 nations agreed to make the first legally binding treaty on plastics pollution by the end of 2024. It was to address the full life cycle of plastic, including production, design and disposal.

      Talks last year in South Korea were supposed to be the final round, but they adjourned in December at an impasse over cutting production. Every year, the world makes more than 400 million tons of new plastic, and that could grow by about 70 per cent by 2040 without policy changes.

      About 100 countries want to limit production as well as tackle cleanup and recycling. Many have said it's essential to address toxic chemicals.

      Panama led an effort in South Korea to address production in the treaty. Negotiator Debbra Cisneros said they'll do so again in Geneva because they strongly believe in addressing pollution at the source, not just through downstream measures like waste management.

      “If we shy away from that ambition now, we risk adopting an agreement that is politically convenient, but environmentally speaking, is ineffective,” she said.

      About 300 businesses that are members of the Business Coalition for a Global Plastics Treaty — companies such as Walmart, the Coca-Cola Company, PepsiCo, and L'Oréal — support reducing production along with increasing recycling and reuse. The coalition includes major food and beverage companies and retailers who want an effective, binding treaty with global rules to spare them the headaches of differing approaches in different countries.

      Some plastic-producing and oil and gas countries firmly oppose production limits. Saudi Arabia, the world's largest exporter of one common type of plastic, has led that group in asserting there should be no problem producing plastic if the world addresses plastic pollution.

      US position on the treaty The US doesn't support global production caps or bans on certain plastic products or chemical additives to them.

      The State Department says it supports provisions to improve waste collection and management, improve product design and drive recycling, reuse and other efforts to cut the plastic dumped into the environment.

      “If the negotiations are to succeed, the agreement must be aimed at protecting the environment from plastic pollution, and the agreement should recognise the importance plastics play in our economies,” the State Department said in a statement to The Associated Press.

      That's similar to the views of the plastics industry, which says that a production cap could have unintended consequences, such as raising the cost of plastics, and that chemicals are best regulated elsewhere.

      China, the United States and Germany lead the global plastics trade by exports and imports, according to the Plastics Industry Association.

      How high will negotiators aim? For any proposal to make it into the treaty, every nation must agree. Some countries want to change the process so decisions may be made by a vote if necessary. India, Saudi Arabia, Iran, Kuwait and others have opposed that, arguing that consensus is vital to an effective treaty.

      Negotiators are discussing making some provisions opt-in or opt-out to avoid a stalemate. Bjorn Beeler, international coordinator for the International Pollutants Elimination Network, said that would mean a treaty without teeth or obligations, with little value. Cisneros said that if carefully crafted, it's an option to find some common ground.

      Tracey Campbell, an executive vice president at the plastics and chemicals company LyondellBasell and vice chair of the executive committee of the World Plastics Council, said she'll ask negotiators to “find a way to agree on a few things and get started” and then build from there.

      She suggested tackling things like product redesign, recycled content mandates and financing waste collection, waste sorting and recycling technologies.

      In contrast, Greenpeace will be in Geneva calling for at least a 75 per cent reduction in plastic production by 2040.

      “We will never recycle our way out of this problem,” said Graham Forbes, who leads the Greenpeace delegation.

      Thousands of people are participating.

      Delegates from most countries, the plastics industry and businesses that use plastics, environmentalists, scientists, Indigenous leaders and communities affected by plastic pollution are in Geneva. About 80 government ministers are attending talks that will last 10 days — the longest session yet, with adjournment scheduled for August 14.

      Frankie Orona, executive director of the Texas-based Society of Native Nations, has been to every negotiating session. Indigenous land, water and air are being contaminated as fossil fuels are extracted and plastic is manufactured using hazardous chemicals, said Orona.

      “We feel we absolutely have to be present to let them know, and see who the people are that are really being impacted by the plastics crisis,” he said. (AP) SKS RD RD

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