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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.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.

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Government to promote tribal products in international markets: Union Minister of Commerce and Industry

November 13, 2025

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Shri Piyush Goyal calls for united efforts to empower tribal communities and showcase their craftsmanship worldwide

Shri Goyal calls for the transformation from “Van Dhan to Vyapar Dhan,”

Union Minister of Commerce & Industry, Shri Piyush Goyal has said that all tribal products with export potential will be fully supported by the Department of Commerce through various channels, including e-commerce platforms, international warehouses for product display and sales, as well as wholesale and retail trade networks. Shri Goyal said this while addressing the Tribal Business Conclave 2025 in New Delhi today in the august presence of Union Minister of Tribal Affairs Shri Jual Oram.

Organized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, in collaboration with the Ministry of Tribal Affairs and Ministry of Culture, the conclave marked a historic moment during Janjatiya Gaurav Varsh, commemorating the 150th birth anniversary of Birsa Munda.

Commerce Minister informed the Conclave that a scheme is currently being developed to strengthen export promotion efforts to ensure that tribal products gain the visibility and market access they rightfully deserve in both domestic and global markets.

Shri Goyal said that both domestic and international markets offer immense opportunities for tribal goods and crafts, and that the Government is taking necessary measures to harness this potential in the coming years.

The Minister emphasised that the Prime Minister believes that the nation can truly prosper only when the indigenous people prosper. He said that India’s growth and development depends on ensuring that progress reaches every household, particularly those in tribal and remote regions. Shri Goyal reiterated that the upliftment of tribal and indigenous communities remains a top priority for the Government, reflecting its commitment to inclusive and sustainable development.

Shri Goyal paid tribute to Birsa Munda and said that he showed direction and leadership to the tribal community. He added that the nation must draw inspiration from Birsa Munda’s life and follow his footsteps to uplift the tribal community, enhance livelihoods, and ensure that every tribal household is filled with happiness and prosperity. Shri Goyal recalled Birsa Munda’s words, “Our land, our kingdom,” and said that the tribal community has historically faced immense deprivation and hardships.

The Minister lauded the tribal community for preserving its values, handicrafts, and traditional skills despite numerous challenges. He said that the way tribal communities have kept their history and heritage alive through resilience and dedication is truly commendable. He expressed deep respect for the strength and determination of the tribal community and said that their contribution to India’s cultural and social fabric is invaluable.

Shri Goyal noted that the Ministry of Tribal Affairs and the Department of Commerce have jointly played a pivotal role in promoting trade and commerce of tribal and indigenous products. He said that schools, colleges, universities, trade bodies, and government institutions have together ensured that quality tribal products from the remotest corners of the country reach marketplaces and consumers across India.

The Minister highlighted that the Government has implemented various schemes and initiatives aimed at improving the welfare of tribal communities. He noted that the President of India, Smt. Droupadi Murmu, stands as a proud and capable representative of both the nation and the tribal community. He mentioned that 3,900 Van Dhan Kendras have acted as catalysts for the upliftment of 12 lakh members of the tribal community.

Shri Goyal informed that the budget allocation for the Ministry of Tribal Affairs has been increased by 50 per cent this year. He added that under the PM-Janman Yojana, approximately 50 lakh families belonging to particularly vulnerable tribal groups have benefitted, with Rs. 24,000 crore disbursed to improve their quality of life.

He said that the tribal community of India is deeply proud of its roots, culture, and traditions. He informed that the fee for obtaining Geographical Indication (GI) tags has been reduced by 80 per cent—from Rs. 5,000 to Rs. 1,000—to encourage more tribal products to be registered and to ensure that India’s history and traditions are preserved through their crafts and heritage.

Concluding his address, Shri Goyal called for the transformation from “Van Dhan to Vyapar Dhan,” envisioning that tribal and indigenous products should reach international platforms, truly realising the vision of “Local Goes Global.” He urged all stakeholders to work together to achieve this shared goal of empowering tribal communities and showcasing their craftsmanship to the world.

FICCI and PRAYOGI also supported the conclave as Industry Partner and Knowledge Partner, respectively. The event celebrated tribal resilience and creativity while positioning tribal enterprise at the heart of India’s development agenda for Viksit Bharat @2047.

The event witnessed participation from over 250 tribal enterprises, with 150 exhibitors and more than 100 tribal start-ups showcasing their innovations at the “Roots to Rise” pitching platform. The initiative provided a direct connection between entrepreneurs, investors, corporates, and government buyers, creating a vibrant ecosystem for collaboration and growth.

The conclave included six high-impact panel discussions and four masterclasses that engaged more than 50 eminent voices from government, academia, and industry. The sessions focused on themes such as investment and partnerships, skilling and empowerment, sustainability and geographical identity, and branding and market innovation.

Buyer-seller meets were also organised to create actionable pathways for market access, skill development, and policy recommendations aimed at strengthening tribal value chains from villages to global markets.

A cultural showcase featuring a thematic pavilion and traditional performances celebrated tribal heritage under the theme “Tribal Bharat @2047: Sustaining Culture, Scaling Commerce.”

Key Announcements at the conclave

1. Launch of Gramya Yuva Arth Niti (GYAN) Lab: A Public Policy Interactive Lab developed by the Ashank Desai School of Public Policy, IIT Bombay, and PRAYOGI Foundation, with support from the Ministry of Commerce and Industry. The GYAN Lab brings together field experience, technology, and policy to design and test new models for tribal and rural enterprises. Through real-time pilots, policy frameworks, digital innovation, and capacity-building, it will create scalable solutions for inclusive and sustainable enterprise growth.In the coming year, the Lab will roll out pilots such as the Tribal Entrepreneurship Index and micro-equity based incubation models, turning field learning into policy action. This collaboration between government, academia, and industry is a major step toward empowering India’s tribal communities through enterprise and innovation launch of Gramya Yuva Arth Niti – GYAN,

2. Tribal Affairs Grand Challenge: Announced by the Ministry of Tribal Affairs in association with Startup India and DPIIT, this initiative invites startups and enterprises to design high-impact solutions for tribal communities, offering visibility, mentorship, and funding support.

3. Roots to Rise: Pitching Session Outcomes

  • After two rounds of screening, 115 enterprises were selected, of which 43 possess a DPIIT registration number. 10 incubators agreed to provide incubation support to the selected enterprises. 57 enterprises received interest for investment from more than 50 VCs, investors including AIF, VCs, angel investors, who participated with a total commitment of more than INR 10 crore.
  • 33 enterprises attracted investor interest from organizations such as IFCI Venture Capital Funds Ltd. and Arora Venture Partners.
  • These startups and enterprises have created around 1,500 direct employment and more than 10,000 indirect employments, cumulatively serving over 20,000 tribal people in various sectors.

4. Another notable outcome was the high engagement on the Government E Marketplace, resulting in 60+ registrations and over 50 positive inquiries for TBC products.

5. Distribution of GI Certificates - The event also featured the distribution of Geographical Indication (GI) certificates, celebrating the artistry of tribal artisans from across India. Crafts and products such as Kannadippaya (Bamboo Mat) of Kerala, Apatani Textile of Arunachal Pradesh, Marthandam Honey of Tamil Nadu, Lepcha Tungbuk of Sikkim, Bodo Aronai of Assam, Ambaji White Marble of Gujarat, and Bedu and Badri Cow Ghee of Uttarakhand received due recognition for their uniqueness and cultural heritage. The recognition marks a significant step in enhancing market access, brand value, and national visibility for tribal products empowering artisans and preserving India’s rich indigenous legacy.

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