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September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.

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Corp. Laws / SEBI / IBC

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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