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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
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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.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    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.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    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.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    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.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    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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      I-Day celebrations: CMs focus on states' achievements, vision; Stalin, Siddaramaiah complain

      August 15, 2025

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      New Delhi, Aug 15 (PTI) The 79th Independence Day was celebrated across the country on Friday with heads of governments recounting the achievements, challenges and plans of the respective states and Union Territories (UTs) as they hoisted the national flag.

      The chief ministers of at least two non-NDA governments -- Karnataka and Tamil Nadu -- aired their grievances against the BJP-led Centre on the day.

      In their speeches, the chief ministers and governors of the states and UTs spoke about the efforts being made to bring law and order under control, and check terrorism, militancy and Naxalism. They also expressed gratitude to the freedom fighters and the armed forces, while recounting development plans.

      Jammu and Kashmir Chief Minister Omar Abdullah delivered a forceful Independence Day speech, criticising the practice of linking terror attacks to the UT's political future and asserted that Pakistan should not be allowed to influence it through terrorism.

      In his first speech since Jammu and Kashmir was downgraded to a UT, he announced a signature campaign would be launched to press the demand for restoration of statehood.

      J-K Lieutenant Governor Manoj Sinha hoisted the national flag at Raj Bhavan in Srinagar and paid tributes to freedom fighters and bravehearts of police, Army and Central Armed Police Forces. He also paid homage to the citizens who lost their lives in the cloudburst in Kishtwar a day ago.

      Karnataka CM Siddaramaiah alleged that the state is facing discrimination in the distribution of resources from the Centre. Delivering his address at the Independence Day celebrations in Bengaluru, he said, "Karnataka is facing discrimination in the distribution of resources from the Centre. There is growing concern that constitutional bodies like the Income Tax Department, Enforcement Directorate, CBI and others are not working to uphold the true values of democracy and cooperative federalism as enshrined in the Constitution." In his Independence Day address at Fort St George in Chennai, Tamil Nadu Chief Minister M K Stalin said while states need additional powers gradually, their rights in key sectors like education are usurped.

      The power distribution between the Centre and states is clearly defined in the Constitution so that the Union and the state governments serve the people together. However, during the past 75 years, due to changes in the political arena, it is regrettable that the role of state governments, as regards their share in power, is on the decline continuously, he alleged.

      "During the past few years, we have seen that the Centre is making several efforts to take away the rights of state governments in several sectors," Stalin said.

      Bihar Chief Minister Nitish Kumar pledged to provide government jobs and other employment opportunities to one crore youth in the state "in the coming years". He was addressing a gathering after unfurling the tricolour at the Gandhi Maidan on Independence Day in Patna. Bihar goes to polls later this year.

      Slamming the previous YSRCP Government for allegedly pushing the state into debts, Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday said the "Super Six" set of poll promises made by the TDP-led NDA in the state was a superhit.

      From Governor Jishnu Dev Varma, Chief Minister Revanth Reddy and other dignitaries to common people, Independence Day was celebrated with patriotism and fervour across Telangana on Friday.

      AIMIM president Asaduddin Owaisi attended Independence Day celebrations at various places in the city, including Yakutpura, Mughalpura, Musheerabad and Madina X Roads.

      The opposition DMK on Friday boycotted the 'At Home' reception hosted by Puducherry Lt Governor K Kailashnathan at Raj Nivas during the 79th Independence Day celebrations here. The reason for the boycott was not immediately known.

      Uttarakhand Chief Minister Pushkar Singh Dhami hoisted the national flag at the Parade Ground in Dehradun to mark the 79th Independence Day. Earlier, he also hoisted the national flag at his official residence and expressed his gratitude to the Indian Army, NDRF, SDRF, ITBP and all the agencies engaged in the challenging rescue operations underway in disaster-ravaged areas of Dharali and Harshil.

      He said Uttarakhand distinguished itself as the first state in Independent India to implement a Uniform Civil Code, the country's toughest anti-copying law, an anti-riot law and a strict land law.

      He said the state cabinet recently approved bringing legislation to amend the state's freedom of religion Act which would make the anti-conversion law even more stringent.

      In the Northeast, Manipur Governor Ajay Kumar Bhalla asserted the overall law and order situation in the state has improved "tremendously" in recent months and it is stable and under control.

      The northeastern state, which is under President's Rule, has made remarkable progress across various sectors from social welfare, infrastructure development to economic empowerment, said Bhalla.

      Assam Chief Minister Himanta Biswa Sarma said the government is on the way to eradicating child marriage from the state by 2026. Hoisting the tricolour in Guwahati, he said there has been a gradual decline of all forms of crimes in recent years.

      The 79th Independence Day was also celebrated in other states and UTs, including Nagaland, Tripura, Meghalaya, Arunachal Pradesh, Haryana and Andaman and Nicobar Islands.

      In her maiden Independence Day speech, Delhi Chief Minister Rekha Gupta pledged to rejuvenate the Yamuna river and provide world-class infrastructure.

      Uttar Pradesh Chief Minister Yogi Adityanath, while hoisting the national flag at the UP Vidhan Sabha in Lucknow, hailed the success of Operation Sindoor. He also paid tributes to Mahatma Gandhi on this occasion and hoisted the national flag at his official residence in Lucknow.

      Asserting that she will continue her battle to uphold the honour of every Indian, West Bengal Chief Minister Mamata Banerjee said Bengal once rose against the atrocities of foreign rulers and will keep fighting against any injustice, adding she was sure that the people would be by her side in this battle.

      Addressing the Independence Day function at the Mahatma Gandhi Marg in Bhubaneswar, Odisha Chief Minister Mohan Charan Majhi said he has given "absolute power" to the police to take action against those involved in crimes against women.

      Rajasthan Chief Minister Bhajanlal Sharma and Madhya Pradesh Chief Minister Mohan Yadav hoisted the national flag in Jodhpur and Bhopal respectively and lauded Operation Sindoor.

      Gujarat Chief Minister Bhupendra Patel announced several new development-centric initiatives, including Regional Vibrant Summits with a focus on towns and villages, and 'Agenda 2035', a roadmap for transforming the state, during the state-level Independence Day function held at Porbandar city, the birthplace of Mahatma Gandhi.

      Goa Chief Minister Pramod Sawant took part in the Independence Day function in Panaji and said his dispensation was committed to regularising native Goans' houses built on government or community lands through various laws. PTI TEAM KSS KSS

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