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September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
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Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
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.

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Customs & Trade

Forging India's Defence Future: Advancing Artillery Shell Manufacturing for Strategic Self-Reliance

September 11, 2025

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Pune, Maharashtra, India (NewsVoir) India’s defence manufacturing sector is undergoing a pivotal transformation, and at the heart of this shift lies a capability that often goes unnoticed but is mission-critical - artillery shell manufacturing. These components, though rarely in the spotlight, form the very foundation of India’s ammunition strength. Their production is a matter of national security, industrial progress, and strategic autonomy.

In FY 2023-24, India’s defence production soared to approximately Rs. 1.27 lakh crore, showing the highest-ever rise in output, with PSUs contributing nearly 79% and the private sector about 21% Wikipedia. Further, in FY 2024–25, annual defence output jumped even higher to Rs. 1,50,590 crore, marking a new record The Times of India.

Forging Strength: Why Artillery Shells Matter Artillery remains the backbone of conventional warfare. According to AP News, Ukraine fires around 4,000-7,000 artillery shells daily, while Russia fires over 20,000 AP News. Bomb shells are not merely metal casings - they must withstand intense pressures during handling, firing, and detonation. A single flaw can compromise safety and effectiveness, making forging - whether cold, hot, or isothermal - indispensable for ensuring internal structural integrity. This process ensures the resulting shells offer maximum strength, fatigue resistance, and dimensional accuracy.

India’s Modernization Journey in Shell Production Despite the high stakes, India’s artillery shell output remains comparatively modest - though exact production numbers are not publicly detailed, the escalation in defence output and renewed policy focus suggests a significant push is underway.

Traditionally, shell manufacturing in India relied on manual forging, semi automation, and labor-intensive machining. Now, a shift is underway - embracing hydraulic forging presses, hot/die-forging systems, CNC machining, robotic handling, and digital inspection. This transition is steering the sector toward precision, consistency, and the global quality benchmarks needed for modern warfare.

Global Comparisons & Strategic Gaps Globally, shell production is being ramped up significantly: • In March 2023, the EU committed €2 billion (about $2.2 billion) to procure 1 million 155mm shells for Ukraine within a year Defense One.

• NATO also signed a $1.2 billion contract for 220,000 rounds of 155mm shells, acknowledging urgent needs, given Ukraine’s and Russia’s massive daily artillery usage AP News.

• Examples of accelerating production: Europe’s artillery shell output is projected to hit 2 million rounds by end of 2025 YahooIr-Ia.

• Rheinmetall, backed by EU funding (€130 million), aims to scale up to 1.1 million shells annually by 2027 The Wall Street Journal.

By comparison, India must upscale production capabilities swiftly to meet both national demand and emerging export opportunities.

Policy Support & Export Potential India’s burgeoning defence output indicates growing capacity and confidence. According to Reuters, India produced $14.8 billion worth of arms in FY 2023-24, a 62% increase since 2020. Indian-made 155mm artillery shells have even appeared on the frontlines in Ukraine Reuters - highlighting both cost-effectiveness and export competitiveness (priced at just $300–400 per shell) Defence Blog.

These developments reflect India’s potential to tap into global demand. With rising international orders and India’s cost advantage, expanding production could position the country as a reliable global supplier.

Technology & Sustainability: The Next Frontier Manufacturing innovation now goes beyond precision - it includes sustainability. European firms, for example, are investing in automation to boost output while cutting energy and waste. India should mirror this by incorporating energy-efficient presses, optimized die processes, AI-based defect detection, digital twins, and real-time analytics.

Building Human Capital Behind every machine is a skilled workforce. India has launched Make in India and Liberalization initiatives - by October 2022, the MoD had issued over 6,000 industrial licences, with ~20% for guns and cartridges KPMG. Coupled with schemes like PMKVY and institutional alliances (e.g., via AICTE), these efforts are building technical expertise in forging, CNC, and digital manufacturing.

A Strategic Asset for the Future To ensure artillery shell production becomes both a strategic asset and economic opportunity, India must: 1. Develop a forging capacity that can meet both domestic defense needs and export demand.

2. Embrace Industry 4.0 technologies to move toward precision, sustainability, and zero-defect output.

3. Invest in public–private collaboration and production clusters to accelerate scaling.

4. Expand human capital through focused training and skill development.

Conclusion Artillery shells are often invisible in the broader narrative of defence capability - yet they are essential. Forging them with precision, reliability, and sustainability through modern technologies and skilled manpower is India’s path toward strategic autonomy.

With defence output already setting records - and cost-competitive artillery shells reaching global theatres - India has both the mandate and momentum. The shells we forge today are not merely engineering products - they are symbols of India’s resilience, strength, and self-reliance.

Sources • Indian defence output: Rs. 1.27 lakh crore (FY 2023–24) Wikipedia; Rs. 1.50 lakh crore (FY 2024–25) The Times of India • Ukraine & Russia rate of shell use (AP News) AP News • EU shell funding initiatives €2 bn → 1 million shells Defense One • EU production target: 2 million shells in 2025 YahooIr-Ia • Rheinmetall EU funds (€130 M) and 1.1 million shells by 2027 The Wall Street Journal • India arms output $14.8 bn FY 2023–24, shell cost $300–400 ReutersDefence Blog • MoD licences for defence manufacturing (guns & cartridges ~20%) KPMG Authored by Nitin Mehra, President - Precision Engineering Technologies.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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