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    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
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August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.

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One-Day Workshop on “Capacity Building of Coastal States on Development of Ocean Accounts” held on August 29, 2025 in Kochi, Kerala

August 30, 2025

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The Ministry of Statistics and Programme Implementation (MoSPI), Government of India, in collaboration with the Directorate of Economics and Statistics (DES), Government of Kerala, organised a one-day workshop on Capacity Building of Coastal States on Development of Ocean Accounts” in Kochi, Kerala on 29th August 2025. The workshop brought together officers from Ministry of Earth Sciences, Directorates of Economics and Statistics, coastal States/UTs, members of the Expert Group on Ocean Ecosystem Accounts, experts from Central Marine Fisheries Research Institute, Indian National Centre for Ocean Information Services, National Remote Sensing Centre, National Centre for Coastal Research, Centre for Marine Living Resources & Ecology, and Indian Maritime University.

Delivering the Welcome Address, Shri Subash Chandra Malik, Additional Director General (SSD), MoSPI, extended a warm welcome to all participants and underscored the workshop’s role for improving the process of compiling Ocean Accounts in line with the SEEA framework.

In his Keynote Address, Shri N.K. Santoshi, Director General (Central Statistics), MoSPI, underscored the Ministry’s commitment to enriching India’s economic indicators by integrating Ocean Ecosystem Accounts alongside traditional measures. He highlighted how these accounts complement GDP by illuminating the dynamics of our marine resources-tracking the extent, condition, services, and assets of coastal ecosystems.

In his Inaugural Address, Dr. Saurabh Garg, Secretary, MoSPI, emphasized the urgent need to incorporate ocean ecosystem data into India’s national accounting systems, in alignment with the upcoming UN System of National Accounts (SNA-2025), which stresses accountability for natural assets like oceans, water and forests. He noted that such integration enhances transparency in GDP estimates, promotes fair distribution of ecosystem benefits, and strengthens data-driven policymaking for disaster risk reduction and sustainable development. He placed special emphasis on global initiatives:

  • The Chennai High-Level Principles for Sustainable Blue Economy-adopted during India’s G-20 presidency in 2023-serve as an international framework to promote ocean conservation, resilience, and responsible economic growth based on marine resources.
  • SDG 14: Life Below Water is central to the agenda, aiming to protect oceans and marine resources through sustainable management, pollution reduction, biodiversity conservation, and climate change adaptation, key for the well-being of millions and the health of the planet.
  • The Blue Economy Policy of the Ministry of Earth Sciences, highlighting seven thematic areas, was referenced as a foundation for effective ocean accounts and sustainable marine planning.

Dr. Garg also commended Kerala’s Directorate of Economics and Statistics for its large and skilled workforce, urging cross-state learning and the vital role of robust statistics for India’s goal of becoming a developed nation by 2047 (Viksit Bharat). He reinforced the ministry’s support for coastal states and underlined the need for evidence-based decision-making not just in ocean accounts, but across all sectors- so that India’s development rests solidly on reliable, up-to-date data.

Delivering the Vote of Thanks, Sri. G.S. Rajath, Director, DES, Kerala, expressed gratitude to the Secretary MoSPI, Expert Group members, partner institutions, and officers from coastal States/UTs. He acknowledged their valuable contributions and reiterated that the success of ocean accounting depends on translating discussions into concrete action at the sub-national level.

The workshop featured two Technical Sessions. The following expert presented their views on the concept related to ocean accounting:

Ms. Anita Baghel, Deputy Director General (DDG), SSD, MoSPI gave an overview of the System of Environmental Accounting (SEEA) and Ocean Accounting frameworks and highlighted MoSPI’s initiatives and progress towards environmental accounting SEEA and Ocean Accounting in India.

Dr. Aswathy. N, Principal Scientist, Central Marine Fisheries Research Institute (CMFRI), Kochi presented on Using Fisheries Data for Ocean Accounting Challenges and Opportunities, Evolving data and Technological advancements in fisheries data collection.  Dr. Venkat Shesu Reddem, Scientist-F, Indian National Centre for Ocean Information Services (INCOIS), Hyderabad suggested for ocean condition accounts with the standardization and normalisation with other parameters of ocean ecosystem accounting. Dr. P V Nagamani, Group Head, Ocean Sciences Group, National Remote Sensing Centre (NRSC), Hyderabad, presented on Satellite Remote Sensing plays a vital role in Ocean Accounting. Remote Sensing and Geospatial Technologies together can provide more robust and effective tools / solutions for Ocean Accounts.

From National Centre for Coastal Research (NCCR), Chennai Dr. U.S. Panda, Scientist-F, told that, NCCR along with world bank has prepared a preliminary Ocean Accounts for Tamil Nadu state informed that as per their estimation Ocean Natural Accounts approximately has 1% share (Rs 43000 cr) of Tamil Nadu GSDP.  Dr. Smitha B.R., Scientist-E, Centre for Marine Living Resources & Ecology (CMLRE), Kochi, presented on Climate Change and Ocean Accounting: Assessing Impacts on Marine Living Resources. She mentioned that Ocean Accounting is vital to track the health of the marine ecosystems, variation in the resource potential, ecosystem services, and resilience of marine ecosystems. Dr. KVK Rama Krishna Patnaik, Faculty, Physical, Oceanography, Indian Maritime University, Visakhapatnam spoken about the innovative methods in modern Oceanography, highlighted the need for sustainable ocean development through proper data collection methods. He emphasised that the ocean energy is one of the important sector of blue economy which need immediate focus.

The day ended with the development of a roadmap aimed at strengthening institutional coordination, building state-level capacity, and creating credible, policy-relevant ocean accounts. The workshop reaffirmed MoSPI’s commitment to work closely with States/UTs, line ministries, and scientific institutions to establish a national framework of Ocean Accounts, thereby advancing India’s vision to sustainable ocean governance.

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