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    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
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    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    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.
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
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    August 4, 2026
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    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
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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.
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
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    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.
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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.
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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.
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
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    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.

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      US Senate rejects competing bills to fund govt, increasing risk of shutdown on Oct 1

      September 19, 2025

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      Washington, Sep 19 (AP) The Senate rejected competing measures on Friday to fund federal agencies for a few weeks when the new budget year begins on Oct 1, increasing prospects for a partial government shutdown on that date.

      Leaders of the two parties sought to blame the other side for the standoff.

      Democrats accused Republicans of not negotiating with them to address some of their priorities on health care as part of the funding measure, even though they knew some Democratic votes would be needed to get a bill to the president's desk.

      Republicans said Democrats were making demands that would dramatically increase spending and were not germane to the core issue of keeping agencies fully running for a short period of time while negotiations continued on a full-year spending measure.

      “The Republican bill is a clean, nonpartisan, short-term continuing resolution to fund the government to give us time to do the full appropriations process. And the Democrat bill is the exact opposite," Senate Majority Leader John Thune said shortly before the votes.

      “It's what you might call, not a clean CR, a dirty CR – laden down with partisan policies and appeals to Democrats' leftist base.” The Democratic proposal would extend enhanced health insurance subsidies set to expire at the end of the year, plus reverse Medicaid cuts that were included in Republicans' big tax breaks and spending cuts bill enacted earlier this year.

      “The American people will look at what Republicans are doing, look at what Democrats are doing, and it will be clear that public sentiment will be on our side,” said Senate Democratic Leader Chuck Schumer of New York, who has repeatedly threatened a shutdown if health care isn't addressed.

      The Senate action came after the House earlier in the day passed the Republican-led funding bill. The measure would extend government funding generally at current levels for seven weeks.

      The bill would also add about $88 million in security funding for lawmakers and members of the Supreme Court and executive branch in the wake of the assassination of conservative activist Charlie Kirk.

      The vote was 217-212. Rep Jared Golden of Maine was the lone Democratic member to support the bill.

      House Speaker Mike Johnson of Louisiana said he knew he had few votes to spare as he sought to persuade fellow Republicans to vote for the funding patch, something many in his conference have routinely opposed in past budget fights. But this time, GOP members see a chance to portray the Democrats as responsible for a shutdown.

      "The ball is in Chuck Schumer's court. I hope he does the right thing. I hope he does not choose to shut the government down and inflict pain on the American people,” Johnson said.

      President Donald Trump had urged House Republicans to pass the bill and put the burden on Democrats to oppose it. GOP leaders often need Trump's help to win over holdouts on legislation.

      “Every House Republican should UNIFY, and VOTE YES!” Trump said on his social media site.

      Democratic leader Hakeem Jeffries said that in opposing the continuing resolution, Democrats were working to protect the health care of the American people. He said that with Republicans controlling the White House and both branches of Congress, “Republicans will own a government shutdown. Period. Full stop." The Senate moved quickly after the House vote to take up the measure plus the Democratic counter. Both fell short of the 60 votes needed for passage. Now, it's unclear how things will shake out.

      Senators could then potentially leave town until Sept 29 — one day before the shutdown deadline. The Senate has a scheduled recess next week because of Rosh Hashana, the Jewish new year.

      Meanwhile, Johnson said Republicans were discussing whether to stay back in their home districts through the rest of September, essentially forcing the Senate to approve the House-passed measure or risk a shutdown. He said lawmakers have a lot of work to do in their districts.

      Democrats on both sides of the Capitol are watching Schumer closely after his last-minute decision in March to vote with Republicans to keep the government open.

      Schumer argued then that a shutdown would be damaging and would give Trump and his White House freedom to make more government cuts. Many on the left revolted, with some advocates calling for his resignation.

      The vote in the spring also caused a temporary schism with Jeffries, who opposed that particular GOP spending bill and said he would not be “complicit” with Schumer's vote.

      The two Democratic leaders now say they are united, and Schumer says things have changed since March. The public is more wary of Trump and Republicans, Schumer says, after the passage of Medicaid cuts.

      Most Democrats appear to be backing Schumer's demand that there be negotiations on the bill — and support his threats of a shutdown, even as it is unclear how they would get out of it.

      “Look, the president said really boldly, don't even talk to Democrats. Unless he's forgotten that you need a supermajority to pass a budget in the Senate, that's obviously his signal he wants a shutdown,” said Sen Tammy Baldwin.

      While the Democratic measure to fund the government had no chance of passage, it does give Democrats a way to show voters their focus on cutting health care costs. Unless Congress act, tax credits going to low- and middle-income people who purchase health insurance through the Affordable Care Act will expire.

      That will mean a big increase in premiums for millions of Americans.

      “There are some thing we have to address. The health insurance, ACA, is going to hammer millions of people in the country, including in red states,” said Sen Angus King. “To me, that can't be put off.” Republicans have said the tax credit issue can be dealt with later this year. They're also using Schumer's previous arguments against shutdowns to make the case he's playing politics.

      “Democrats voted in favour of clean CRs no fewer than 13 times during the Biden administration,” Thune said. “Yet now that Republicans are offering a clean CR, it's somehow a no-go. It's funny how that happens.” (AP) SCY SCY

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