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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
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    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
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    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
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    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
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    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
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    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
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    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.

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      Maharashtra govt announces Rs 31,628 cr aid for rain-hit farmers, says loan waiver in due course

      October 7, 2025

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      Mumbai, Oct 7 (PTI) The Maharashtra government on Tuesday announced a compensation package of Rs 31,628 crore for farmers who suffered massive losses due to rains and floods, asserting the total assistance will be Rs 48,000 per hectare.

      The government will also announce a farm loan waiver in due course, said Chief Minister Devendra Fadnavis, adding a comprehensive memorandum on the losses suffered by cultivators was being prepared for submission to the Centre.

      Opposition parties, however, dubbed the relief package "hollow" and "too meagre" to help agriculturists rebuild their lives, and demanded a more "robust" assistance as well as a concrete rehabilitation plan.

      "This is a comprehensive compensation package of Rs 31,628 crore for farmers who suffered massive losses in recent rains and floods. This package represents an unprecedented effort by the state government to stand firmly with every affected citizen and farmer in this time of crisis," said Fadnavis while addressing a press conference after chairing a cabinet meeting, flanked by his deputies Eknath Shinde and Ajit Pawar.

      The government will provide Rs 47,000 in cash and Rs 3 lakh through aid under the Employment Guarantee Scheme for every hectare of farmland damaged by floods, the CM stated.

      The package includes compensation for crop losses, life and property, soil erosion, direct financial support to farmers, concessions generally extended in drought-like conditions, hospitalisation expenses, ex gratia, damage to houses, shops, and cattle sheds.

      "The government will announce a loan waiver in due course, but the priority at the moment was to help farmers stand on their feet again," the chief minister emphasised.

      Notably, Opposition parties for long have been demanding a loan waiver for farmers.

      As many as 29 of the total 36 districts and 253 (out of 358) talukas suffered due to heavy rains, the chief minister informed.

      While sowing had taken place over a total of 1.43 lakh hectares at the start of the monsoon, crops over 68 lakh hectares of land were damaged, Fadnavis said, adding as much as 60,000 hectares of farmland were damaged due to the top layer of soil getting washed away.

      Additionally, Rs 10,000 per hectare and Rs 30,000 per damaged well will be given to affected farmers, the CM declared.

      The government's priority was to strengthen farmers so that they are ready for the coming rabi (winter) season, he said, adding compensation will be transferred to farmers' bank accounts.

      He said 45 lakh famers, who have crop insurance, will get Rs 17,000 per hectare.

      Total assistance for affected farmers will be Rs 48,000 per hectare. The crop insurance payout (estimated) is Rs 5,000 crore. Additionally, Rs 1,500 crore will be reserved under the District Planning and Development Council (DPDC) for immediate relief efforts, Fadnavis maintained.

      The kin of persons killed in rain-related incidents will get Rs 4 lakh each, while the injured persons will be given amounts ranging from Rs 74,000 to Rs 2.5 lakh.

      The package also provides a Rs 5,000 aid per family whose household utensils and goods were damaged, and Rs 5,000 for damage caused to clothes and personal items. Small shop owners and street vendors will get Rs 50,000.

      Fully damaged pucca (concrete) houses in hilly areas will get Rs 1,20,000, while kutchha houses in hilly regions will get Rs 1,30,000. The financial assistance for partially damaged houses is Rs 6,500, and Rs 8,000 and Rs 3,000, respectively, for huts and cattle sheds.

      As to the loss of livestock, farmers will receive Rs 37,500 per animal for milch animals, Rs 32,000 for draught animals, and Rs 100 per bird.

      "The government will extend assistance beyond NDRF (National Disaster Response Fund) norms, increasing the limit from 2 hectares to 3 hectares. An additional Rs 10,000 crore will be provided to ensure aid is transferred directly into farmers' bank accounts", Fadnavis added.

      The CM announced a series of relief measures usually implemented in drought-hit areas, which will now be extended to flood-affected regions.

      Measures such as land revenue waiver, restructuring of crop loans, suspension of agricultural loan recovery, and waiver of electricity dues have already been announced.

      The CM stated that school and college examination fees for children of farmers will be waived, MGNREGA work conditions will be relaxed, and there will be no disconnection of power supply to agricultural pumps.

      On Shiv Sena (UBT) president Uddhav Thackeray's claim that farm loan waiver had been given when he was chief minister (November 2019-June 2022), Fadnavis insisted crop loans were waived during his (Fadnavis') first term in office (2014 to 2019).

      The Thackeray government did not fulfil its assurance of assistance to farmers who repaid their loans regularly, and it was Eknath Shinde who did it when he was CM (June 2022-November 2024), stated Fadnavis.

      Shinde said farmers should not lose hope, and the government will ensure they do not face a "dark Diwali".

      "Farmers will get aid notwithstanding a financial crunch", he said, adding, "We met (Union minister) Amit Shah and sought Central assistance".

      The Congress said the flood relief amount was nothing but a mockery of farmers' suffering. The NCP (SP) described it as a "blueprint for deception" that rubs salt into cultivators' wounds as it will "push them further into the trap of debt".

      Shiv Sena (UBT) leader Ambadas Danve said the demand for a loan waiver was yet to be fulfilled and the government has not provided Rs 50,000 per hectare aid to farmers.

      Heavy rainfall and floods in September severely affected Marathwada and adjoining regions, destroying crops on 68.69 lakh hectares across the state. PTI MR PR NP KRK NSK RSY

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