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    Gross and Net GST revenue collections for the month of September, 2026
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    5th Kautilya Economic Conclave to be held in New Delhi from 3 to 5 October 2026 under the theme “Resilience in an Age of Flux”
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October 1, 2026
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GST revenue accounting distinguishes gross collections, refunds, net domestic and customs revenue, and SGST-IGST settlement reporting.
Gross GST revenue for September 2026 distinguishes domestic collections and IGST on imports; after domestic and ICEGATE refund adjustments, net revenue is calculated separately for domestic and customs GST. Cumulative collections through September similarly distinguish gross receipts, refunds and net revenue. SGST reporting compares pre-settlement receipts with post-settlement amounts that include the SGST portion of IGST settled to States and Union Territories. State and Union Territory revenue comparisons exclude GST on imported goods, while April-September domestic collections are split between Central and State formations.
October 1, 2026
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Annual Survey of Industries results record broad manufacturing growth and define survey coverage, enumeration, digital data collection, and reliability limits.
ASI 2024-25 records broad-based growth in registered manufacturing, including establishments, output, Gross Value Added, employment, emoluments, fixed capital, invested capital, net income and net profit. The survey covers specified registered factories, bidi and cigar establishments, certain electricity undertakings, and qualifying large units in State-maintained business registers. Data are collected electronically under the statutory framework for collection of statistics using an establishment-based approach, with quality checks and caution required because the estimates arise from a sample survey.
October 1, 2026
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Economic resilience policy dialogue examines financial stability, digital governance, trade fragmentation, and investment priorities amid global uncertainty.
The fifth Kautilya Economic Conclave will examine economic resilience amid global shocks through discussions on macroeconomic stability, monetary policy, financial stability, investment, fiscal federalism and capital-market development. Its agenda also covers digital economy governance, artificial intelligence, trade fragmentation, strategic autonomy, climate resilience, food systems, demographic change and global health security. Plenaries, parallel sessions and closed-door roundtables will consider policy responses and mobilisation of domestic and foreign capital for long-term investment.
September 30, 2026
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Equity acquisition in a life insurer receives competition clearance for BNP Paribas Cardif's proposed investment.
Competition Commission of India approval covers a proposed combination under which BNP Paribas Cardif will acquire certain equity share capital in IndiaFirst Life Insurance Company Limited. The transaction is an acquisition of an ownership interest in an Indian life insurer. IndiaFirst Life Insurance Company Limited is incorporated in India, is an IRDAI-licensed insurer, and provides life insurance in India.
September 30, 2026
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Merger control clearance permits Chubu's acquisition of equity in Continuum Green Energy through primary and secondary transactions.
Competition Commission of India approval covers the acquisition of certain equity shareholding in Continuum Green Energy Limited by Chubu Electric Power Company Netherlands B.V. The proposed combination comprises a primary subscription for, and secondary purchase of, the Target's equity shares from Continuum Green Energy Holdings Ltd., Singapore. The Target and its Indian subsidiaries primarily generate and sell renewable power from wind and solar sources.
September 30, 2026
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Competition clearance authorises Bain Capital funds to acquire majority control of Everllence through a share transfer from Volkswagen.
Competition approval covers the indirect acquisition of a majority of the shares and voting rights in Everllence SE and its direct and indirect subsidiaries by funds managed or advised by Bain Capital Investors, LLC, from Volkswagen Aktiengesellschaft through a share transfer. Nikolaus (BC) Bidco GmbH acts as the purchaser and is a special purpose vehicle ultimately controlled by Bain Capital-managed or advised funds.
September 30, 2026
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Full-shareholding acquisition in crop protection receives competition clearance, combining businesses spanning agrochemicals, seeds, and agricultural equipment.
Competition Commission of India approved Crystal Crop Protection Limited's acquisition of the entire, fully diluted shareholding of FMC India Private Limited from FMC Netherlands Holdings II B.V. and its affiliates. The approved combination comprises the acquisition of 100% of FMC India's shareholding by Crystal Crop. Crystal Crop is an Indian public limited company engaged in development, manufacture, and distribution of crop protection products, seeds, and agricultural equipment.
September 30, 2026
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Investment facilitation supports cross-border manufacturing, technology, supply-chain, and business expansion partnerships between the two economies.
India-U.S. economic engagement extends beyond conventional trade to investment, manufacturing, technology, innovation, resilient supply chains, and high-value capabilities. Business engagement with manufacturing and technology companies addresses opportunities in India and expansion of partnerships. The Government of India indicates readiness to facilitate corporate operations, expansion, and investments in India.
September 30, 2026
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Monthly fiscal accounts report receipts, tax devolution, and revenue and capital expenditure against budget estimates.
Monthly accounts up to August 2026 record total receipts of Rs.13,67,709 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution to State Governments totals Rs.5,90,391 crore. Total expenditure is Rs.20,77,958 crore, divided between revenue expenditure of Rs.15,68,009 crore and capital expenditure of Rs.5,09,949 crore, with revenue expenditure including interest payments and major subsidies.
September 28, 2026
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Rules-based multilateral trade engagement supports bilateral agreement negotiations, enterprise opportunities, investment partnerships, and developing-country policy space.
India's G20 trade engagement promotes a rules-based, open and non-discriminatory multilateral trading system while preserving policy space for developing countries. Bilateral discussions seek to expand opportunities for farmers, fishermen, women entrepreneurs, startups, MSMEs and other enterprises. India-United States engagement is intended to advance a balanced Bilateral Trade Agreement and an interim trade deal, alongside investment and industry outreach promoting manufacturing partnerships with Indian enterprises.
September 28, 2026
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Cross-border investment facilitation under CEPA supports local-currency settlement, payment integration, joint projects and timely resolution of investor concerns.
Financial-sector cooperation covers local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies, with steps to support timely implementation for more efficient, accessible and resilient bilateral trade and investment. The UAE-India Fast Track Mechanism remains available for addressing outstanding concerns affecting investments and companies in both jurisdictions, and the parties agreed to support timely resolution of such matters.
September 28, 2026
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Return filing and tax audit deadlines are extended for the identified taxpayer category under the applicable statutory framework.
CBDT extends the Assessment Year 2026-27 Return of Income filing deadline for persons identified at serial no. 2 in the Table below Explanation 2 to section 139(1) of the Income-tax Act, 1961, from 31 October 2026 to 21 November 2026. The specified date for furnishing the audit report for the same class is extended from 30 September 2026 to 21 October 2026.
September 28, 2026
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Courier-based gold smuggling enforcement targets concealed distribution through paper entities and foreign-origin gold consignments nationwide.
Coordinated customs enforcement targeted an organised gold-smuggling network that used courier consignments to distribute foreign-origin gold after cross-border entry. The operation led to seizure of 6.61 kg of gold bars under the Customs Act, 1962, and arrests of eleven associated persons. The network allegedly split gold into small consignments and used paper entities or persons without legitimate gold transactions to conceal distribution through courier channels.
September 28, 2026
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Anti-drug awareness and cultivator outreach combine prevention, direct grievance redressal, and safeguards against illicit narcotics diversion.
Jan Sunwayi programmes provide direct, prompt and accessible grievance redressal for opium cultivators, including name corrections, Namantaran, and eligibility connected with the upcoming Settlement Operation. Cultivators are advised to avoid middlemen or intermediaries and seek clarification or assistance directly. These measures complement anti-drug awareness and preventive outreach aimed at preventing illegal trafficking, diversion and abuse of narcotic drugs and psychotropic substances.
September 28, 2026
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NDPS enforcement targets concealed poppy straw, opium and cannabis trafficking through seizures, arrests, and continuing supply-chain investigation.
Narcotics enforcement operations in Rajasthan led to seizures of poppy straw, opium, hydroponic cannabis, cash, vehicles and a loaded country-made pistol, with four arrests. Poppy straw was recovered from vehicles and premises, including a truck where it was concealed beneath cement bags. Opium and cash were recovered from residential premises, while hydroponic cannabis concealed in an international parcel was recovered at the Foreign Post Office, Jaipur. The seized articles were taken under relevant provisions of the Narcotic Drugs and Psychotropic Substances Act, 1985, and supply-chain investigation continues.
September 28, 2026
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Free trade agreement market access is positioned to expand export opportunities and international investment for local entrepreneurs.
Free Trade Agreement-led market access is positioned to expand international opportunities for entrepreneurs in Uttar Pradesh by supporting exports, investment inflows and access to overseas markets. International trade engagement is supported through direct business access to global markets, buyer-seller meetings and promotion of the State's products, cuisines and services. Export expansion, international investment, tourism and global recognition of State brands form the stated next phase of economic development, supported by coordination between governments and trade and industrial stakeholders.
September 28, 2026
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Multilateral infrastructure cooperation guides annual development bank participation and bilateral engagement on sustainable investment and economic connectivity.
The official visit includes participation, as India's Governor, in the Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, alongside bilateral meetings and engagement with governmental leadership, business leaders and investors. The AIIB focuses on sustainable infrastructure and productive-sector investment in Asia to promote sustainable economic development, wealth creation and infrastructure connectivity.
September 25, 2026
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Reciprocal trade agreement negotiations face tariff and subsidy pressures as both governments pursue lower bilateral trade barriers.
India-US bilateral trade negotiations seek completion of the first-phase Bilateral Trade Agreement through a reciprocal trade arrangement lowering trade barriers and tariffs. Further negotiations are required because of changed US tariff conditions, forced-labour tariffs on Indian goods, a possible investigation into excess industrial capacity and subsidies, and sanctions legislation relating to Russia. Ministerial and bilateral engagements will review progress on the proposed reciprocal arrangement.
September 25, 2026
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Banking strike contingency measures direct customers toward advance transactions and digital channels as branch operations may be disrupted.
Banking-service continuity measures anticipate possible disruption from a three-day employee strike. Customers are advised to complete essential transactions in advance and use ATMs/ADWMs, mobile and internet banking, UPI, business correspondent points and other digital channels. Branch and office operations at participating institutions may be affected, while essential services are to be maintained where possible. Union demands include a five-day banking week, pension improvements and transition options from the National Pension System to the old pension scheme.
September 25, 2026
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Government borrowing calendar: Reduced dated-securities borrowing will use weekly auctions, green bonds, switches and buyback operations.
Second-half dated-security borrowing will be completed through weekly auctions across maturities ranging from 3 years to 50 years, including Sovereign Green Bonds. Switching and buyback operations will continue to smooth the redemption profile, while a greenshoe option may permit retention of additional subscriptions. Treasury Bill borrowing will proceed through 91-day, 182-day and 364-day instruments. Auctions will offer non-competitive bidding for specified retail investors, and flexibility is retained to modify issuance terms or introduce non-standard maturity instruments, floating-rate bonds and inflation-indexed bonds.

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Trump paints Zelenskyy into corner with his new plan to end Russia's war on Ukraine

November 22, 2025

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Washington, Nov 22 (AP) With his new 28-point plan to end Russia's war in Ukraine, President Donald Trump is resurfacing his argument that Ukrainian President Volodymyr Zelenskyy doesn't “have the cards” to continue on the battlefield and must come to a settlement that heavily tilts in Moscow's favour.

Trump, who has demonstrated low regard for Zelenskyy dating back to his first term, said Friday he expects the Ukrainian leader to respond to his administration's new plan to end the war by next Thursday.

“We think we have a way of getting peace,” Trump told reporters in an Oval Office appearance. “He's going to have to approve it.” Buffeted by a corruption scandal in his government, battlefield setbacks and another difficult winter looming as Russia continues to bombard Ukraine's energy grid, Zelenskyy says Ukraine is now facing perhaps the most difficult choice in its history.

Zelenskyy has not spoken with Trump since the plan became public this week, but has said he expects to talk to the Republican president in coming days. It's likely to be another in a series of tough conversations the two leaders have had over the years.

The first time they spoke, in 2019, Trump tried to pressure the then newly minted Ukrainian leader to dig up dirt on Joe Biden ahead of the 2020 election. That phone call sparked Trump's first impeachment.

Trump made Biden's support for Ukraine a central issue in his successful 2024 campaign, saying the conflict had cost US taxpayers too much money and vowing he would quickly bring the war to an end.

Then early this year in a disastrous Oval Office meeting, Trump and Vice President JD Vance tore into Zelenskyy for what they said was insufficient gratitude for the more than $180 billion the US had appropriated for military aid and other assistance to Kyiv since the start of the war. That episode led to a temporary suspension of US assistance to Ukraine.

And now with the new proposal, Trump is pressing Zelenskyy to agree to concessions of land to Moscow, a massive reduction in the size of Ukraine's army, and agreement from Europe to assert that Ukraine will never be admitted into the NATO military alliance.

“Now Ukraine may find itself facing a very difficult choice: either loss of dignity, or the risk of losing a key partner,” Zelenskyy said in a video address Friday.

At the centre of Trump's plan is the call on Ukraine to concede the entirety of its eastern Donbas region, even though a vast swath of that land remains in Ukrainian control.

Analysts at the independent Institute for the Study of War have estimated it would take several years for the Russian military to completely seize the territory, based on its current rate of advances.

Trump, nevertheless, insists that the loss of the region — which includes cities that are vital defence, industrial and logistics hubs for Ukrainian forces — is a fait accompli.

“They will lose in a short period of time. You know so,” Trump said Friday when asked during a Fox News Radio interview about his push on Ukraine to give up the territory. “They're losing land. They're losing land.” The Trump proposal was formally presented to Zelenskyy in Kyiv on Thursday by Dan Driscoll, the US Army secretary. The plan itself was a surprise to Driscoll's staffers, who were not aware as late as Wednesday that their boss would be going to Ukraine as part of a team to present the plan to the Ukrainians.

Army officials walked away from that meeting with the impression that the Ukrainians were viewing the proposal as a starting point that would evolve as negotiations progressed, according to a US official, who spoke on condition of anonymity to discuss the sensitive talks.

It's unclear how much patience Trump has for further negotiation. White House press secretary Karoline Leavitt said Thursday that Trump's new plan reflects “the realities of the situation” and offers the “best win-win scenario, where both parties gain more than they must give.” Asked about Zelenskyy's initial hesitant response to the proposal, Trump recalled the February Oval Office blow-up with Zelenskyy: “You remember, right in the Oval Office, not so long ago, I said, You don't have the cards.'” The mounting pressure from Trump comes as Zelenskyy is dealing with fallout over $100 million in kickbacks for contracts with the state-owned nuclear energy company. The scandal led to resignations of top Cabinet ministers and implicated other Zelenskyy associates.

Konstantin Sonin, a political economist and Russia expert at the University of Chicago, said “what Donald Trump is certainly extremely good at is spotting weak spots of people.” One of the 28 elements of Trump's proposal calls for elections to be held within 100 days of enactment of the agreement.

“I think it's a rationalistic assessment that there is more leverage over Zelenskyy than over Putin,” Sonin said. He added, “Zelenskyy's back is against the wall” and “his government could collapse if he agrees” to the US proposal.

All the while, Ukraine is increasingly showing signs of strain on the battlefield after years of war against a vastly larger and better equipped Russian military. Ukraine is desperately trying to fend off relentless Russian aerial attacks that have brought rolling blackouts across the country on the brink of winter.

Kyiv is also grappling with doubts about the way ahead. A European plan to finance next year's budget for Ukraine through loans linked to frozen Russian funds is now in question.

The Trump proposal in its current form also includes several elements that would cut deeply into Ukrainian pride, said David Silbey, a military historian at Cornell University.

One provision calls on Russia and Ukraine to abolish “all discriminatory measures and guarantee the rights of Ukrainian and Russian media and education,” and “all Nazi ideology and activities must be rejected and prohibited.” That element could be seen by the Ukrainian side as giving credence to Putin's airing of distorted historical narratives to legitimize the 2022 invasion.

Putin has said the war is in part an effort to “denazify” Ukraine and complained of the country's “neo-Nazi regime” as a justification for Russia's invasion. In fact, in Ukraine's last parliamentary election in 2019, support for far-right candidates was 2%, significantly lower than in many other European countries.

The plan's provision is “very clearly an attempt to build up Putin's claim to Russian cultural identity within Ukraine,” Silbey said. He added, “From territory loss to the substantial reduction of the Ukrainian military to cultural concessions that have been demanded, I just don't think Zelenskyy could do this deal and look his public in the eye again.” (AP) SCY SCY

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