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    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
    Rupee falls 3 paise to close at 95.40 against US dollar
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    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
    Show AI Summary
    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
    Show AI Summary
    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
    Show AI Summary
    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.
    August 4, 2026
    Show AI Summary
    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.

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      Firings of federal workers begin as White House seeks to pressure Democrats in government shutdown

      October 11, 2025

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      Washington, Oct 11 (AP) The White House budget office said Friday that mass firings of federal workers have started, an attempt by President Donald Trump's administration to exert more pressure on Democratic lawmakers as the government shutdown dragged into a 10th day.

      Russ Vought, the director of the Office of Management and Budget, said on the social media site X that the “RIFs have begun,” referring to reduction-in-force plans aimed at reducing the size of the federal government.

      A spokesperson for the budget office said the reductions are “substantial” but did not offer more details.

      Employees at the departments of Education, Treasury, Homeland Security and Health and Human Services, as well as the Environmental Protection Agency, were set to receive the notices, according to spokespeople for the agencies and union representatives for federal workers.

      The aggressive move by Trump's budget office goes far beyond what usually happens in a government shutdown and escalates an already politically toxic dynamic between the White House and Congress. Talks to end the shutdown are almost nonexistent.

      Typically, federal workers are furloughed but restored to their jobs once the shutdown ends, traditionally with back pay. Some 750,000 employees are expected to be furloughed during the shutdown, officials have said.

      Democrats — and some Republicans — criticize the administration's actions In comments to reporters in the Oval Office on Friday night, Trump said many people would be losing their jobs, and that the firings would be focused on Democrat-oriented areas, though he didn't explain exactly what that meant.

      “It'll be a lot, and we'll announce the numbers over the next couple of days,” he said. “But it'll be a lot of people.” Trump said that, going forward, “We're going to make a determination, do we want a lot? And I must tell you, a lot of them happen to be Democrat oriented.” “These are people that the Democrats wanted, that, in many cases, were not appropriate,” he said of federal employees, eventually adding, “Many of them will be fired.” Still, some leading Republicans were highly critical of the administration's actions.

      “I strongly oppose OMB Director Russ Vought's attempt to permanently lay off federal workers who have been furloughed due to a completely unnecessary government shutdown,” said Maine Sen. Susan Collins, the chair of the powerful Senate Appropriations Committee, who blamed the federal closure on Senate Minority Leader Chuck Schumer, D-N.Y.

      Alaska Sen. Lisa Murkowski called the announcement “poorly timed” and “yet another example of this administration's punitive actions toward the federal workforce.” For his part, Schumer said the blame for the layoffs rested with Trump.

      “Let's be blunt: nobody's forcing Trump and Vought to do this,” Schumer said. “They don't have to do it; they want to. They're callously choosing to hurt people — the workers who protect our country, inspect our food, respond when disasters strike. This is deliberate chaos.” Notice of firings has already begun at several federal agencies The White House had previewed its tactics shortly before the government shutdown began on Oct. 1, telling all federal agencies to submit their reduction-in-force plans to the budget office for its review.

      It said reduction-in-force plans could apply to federal programs whose funding would lapse in a government shutdown, are otherwise not funded and are “not consistent with the President's priorities.” On Friday, the Education Department was among the agencies hit by new layoffs, a department spokesperson said. A labor union for the agency's workers said the administration is laying off almost all employees below the director level at the Office of Elementary and Secondary Education, while fewer than 10 employees were being terminated at the agency's Office of Communications and Outreach.

      Notices of firings have also taken place at the Cybersecurity and Infrastructure Security Agency, which leads federal efforts to reduce risk to the nation's cyber and physical infrastructure, according to DHS, where CISA is housed. The agency has been a frequent Trump target over its work to counter misinformation about the 2020 presidential election and the COVID-19 pandemic. DHS said the layoffs were “part of getting CISA back on mission.” Federal health workers were also being fired, though an HHS spokesman did not say how many or which agencies were being hit hardest. A spokesperson for the EPA, which also has an unspecified number of layoffs, blamed the Democrats for the firings and said they can vote to reopen the government anytime.

      Threats of more cuts across the federal workforce An official for the American Federation of Government Employees, which represents federal workers and is suing the Trump administration over the firings, said in a legal filing Friday that the Treasury Department is set to issue layoff notices to 1,300 employees.

      The AFGE asked a federal judge to halt the firings, calling the action an abuse of power designed to punish workers and pressure Congress.

      “It is disgraceful that the Trump administration has used the government shutdown as an excuse to illegally fire thousands of workers who provide critical services to communities across the country,” AFGE President Everett Kelley said in a statement.

      Democrats have tried to call the administration's bluff, arguing the firings could be illegal, and had seemed bolstered by the fact that the White House had not immediately pursued the layoffs once the shutdown began.

      But Trump signaled earlier this week that job cuts could be coming in “four or five days.” “If this keeps going on, it'll be substantial, and a lot of those jobs will never come back,” he said Tuesday.

      Workforce cuts appear unhelpful to bipartisan shutdown negotiations Meanwhile, the halls of the Capitol were quiet on Friday, the 10th day of the shutdown, with both the House and the Senate out of Washington and both sides digging in for a protracted shutdown fight. Senate Republicans have tried repeatedly to cajole Democratic holdouts to vote for a stopgap bill to reopen the government, but Democrats have refused as they hold out for a firm commitment to extend health care benefits.

      Some Republicans on Capitol Hill have suggested that Vought's threats of mass layoffs have been unhelpful to bipartisan talks.

      And the top Democrat on the Senate Appropriations Committee, Sen. Patty Murray of Washington, said in a statement that the “shutdown does not give Trump or Vought new, special powers” to lay off workers.

      “This is nothing new, and no one should be intimidated by these crooks,” she added.

      Still, there was no sign that the top Democratic and Republican Senate leaders were even talking about a way to solve the impasse. Instead, Senate Majority Leader John Thune continued to try to peel away centrist Democrats who may be willing to cross party lines.

      “It's time for them to get a backbone,” Thune, a South Dakota Republican, said Friday.

      The Partnership for Public Service, a nonpartisan organization that tracks federal service, says more than 200,000 civil servants have left since the start of this administration in January due to earlier firings, retirements and deferred resignation offers.

      “These unnecessary and misguided reductions in force will further hollow out our federal government, rob it of critical expertise and hobble its capacity to effectively serve the public,” said the organization's president and CEO, Max Stier. (AP) AMJ AMJ

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