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August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
Show AI Summary
Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.

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Nitish Kumar 'medically alive' but 'brain dead', alleges RJD MP Sudhakar Singh

September 11, 2025

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New Delhi, Sep 11 (PTI) Bihar Chief Minister Nitish Kumar is only "medically alive" but "brain dead", and imposing him on the people of Bihar would be an insult to them, Rashtriya Janata Dal (RJD) MP Sudhakar Singh said, expressing confidence over the Mahagathbandhan getting a two-thirds majority in the upcoming Bihar polls.

In an interview with PTI, Singh also said the Supreme Court's direction to include Aadhaar as one of the documents for the ongoing Special Intensive Revision (SIR) is a major victory for the marginalised sections, who faced the threat of being out of the voter list amid the exercise which seeks voters to submit documents establishing their citizenship of India.

Asked about the upcoming polls in Bihar, Singh, a Lok Sabha MP from Buxar, said Kumar has "mentally retired".

"People are going to vote for the next generation leadership of Tejashwi Yadav. Mahagathbandhan will come in the government with a two-thirds majority," Singh said.

"If you look at the Mahagathbandhan, we were only 12,000 votes behind the NDA even in the 2020 Bihar polls despite all the manipulations (by them). We were defeated by 12 votes in one seat, and in some other seats, we were defeated by 250 or 500 votes.

"But in the 2024 Lok Sabha polls, we improved our performance. Earlier, the RJD had one MP from Bihar; now we have 10 MPs," he said.

He took a jibe at the Bihar chief minister, who has been in the news recently for his odd behaviour, sparking a debate about his health situation.

"The chief minister of Bihar is mentally retired; the people of Bihar are familiar with this," Singh said.

He suggested that the NDA should appoint a panel of doctors to examine Kumar.

"Nitish Kumar is medically and biologically alive, but mentally he is dead. He is a brain-dead person. Are the 13 crore people of Bihar going to be under the leadership of a brain-dead chief minister? Those who say that want to see Bihar as a colony," he said.

"If the NDA has any morality, they should form a three-member panel of AIIMS doctors, get a health check-up done and release the report," he said.

Kumar has been in the news recently for his antics. At a ceremony in Patna in May this year, he accepted a potted plant from a senior IAS officer and then placed it on the officer's head. In another incident in March, he drew criticism for inappropriate behaviour during the national anthem.

"Staying in power is not a bad thing, but imposing a brain-dead CM on 13 crore people of Bihar to remain in power is an insult to the people, and you are seeing Bihar as a colony," the RJD MP added.

Talking about the Special Intensive Revision of the voter list being carried out in Bihar, Singh welcomed the Supreme Court's intervention, asking the Election Commission (EC) to accept Aadhaar as one of the documents listed for the exercise, and called it a major victory.

"After a long struggle, this is a big victory for the marginalised sections, like those who are uneducated or are below the poverty line. The Aadhaar card is used to get a passport, driving licence and bank account. The EC was ready to accept those documents, but the main document, the Aadhaar card, they had refused to accept," Singh said.

He also took a dig at the poll panel for not consulting political parties and also ignoring the suggestions given by the top court.

"If we look at the initial period of the SIR, the Election Commission was not ready to talk to any of the stakeholders. They were neither listening to political parties nor were they ready to accept any suggestion of the Honourable Supreme Court," he said.

"The SC had suggested that you should display the whole process of SIR on a dashboard. But the EC said in front of the Supreme Court that it is not obliged to show any document in the public domain or to the Supreme Court," he said.

"Approximately 25% of the population is illiterate and landless; this is a relief for them," Singh remarked.

Asked about Prime Minister Narendra Modi's remarks about "infiltrators" being there in the country, Singh said, "It is very surprising that a person sitting at the highest position in the constitutional system is involved in a political accusation. It was expected that he would deport the infiltrators, but he is making accusations from the Red For. This means he is accepting his failure." "What does his statement from Red Fort mean? It means he is a failed prime minister," he said.

Sources in the EC had earlier claimed that Booth Level Officers (BLOs) have found a large number of people from Nepal, Bangladesh and Myanmar in the electoral rolls of Bihar.

Singh slammed the poll panel for not giving machine-readable voter list to parties, and questioned the claim that changes can be made by parties if the data is in an editable format.

"Even if we make any changes in our analysis, the Election Commission has the original document. They can match the changes that we have made," he said.

"The EC statements sound like they feel 99.99% people in this country are fools, and the only educated people are sitting in the Election Commission," he said.

Singh said a second phase of the Vote Adhikar Yatra would be started in Bihar very soon to cover the remaining districts which were not covered in the first phase.

"In the first phase of the Yatra on SIR, we went to 18 districts. Another yatra would be taken out in the remaining 10 districts under the leadership of Tejashwi Yadav. There is not much time left for the elections. We are preparing on a large scale," he said. PTI AO KSS KSS

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