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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.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.

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News and Press Release

Statistical Modelling for District-Level Development Planning

December 10, 2025

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The Steering Committee for National Sample Surveys (NSS) constituted by the National Statistical Commission (NSC) recommended that MoSPI should undertake a pilot study on the feasibility for generating the model-based district-level estimates based on the Household Consumption Expenditure Survey (HCES): 2022-23 data. To explore the possibility of generation of district level estimates of Monthly Per Capita Consumption Expenditure (MPCE), a committee was formed under the Chairpersonship of Dr. Mausumi Bose, former Professor, Indian Statistical Institute (ISI), Kolkata with members from the NSS and DES, Uttar Pradesh. The Committee was mandated to estimate MPCE figures for the districts of Uttar Pradesh utilizing model-based techniques, more specifically, Small Area Estimation (SAE) methods. The district-wise MPCE Estimates (in Rs.) of Uttar Pradesh (U.P.) using Model-based Small Area Estimation (SAE) Approach for Rural and Urban Sector are given in Annexure.

Model-based techniques, adopting the Fay–Herriot (FH) and Spatial Fay–Herriot (SFH) models under the Small Area Estimation framework to borrow strength from covariate data and neighboring districts was used to generate reliable estimates of MPCE for the districts of Uttar Pradesh. The detailed estimation methodology along with its benefits and use cases to other identical scenarios have been mentioned in the report available on the website of MoSPI at

https://new.mospi.gov.in/uploads/publications_reports/publications_reports1761641209612_6875c53f-d8eb-4458-be3e-1e12a9e528c9_Compiled_Report_final17092025.pdf

Using the methodology as adopted by the Committee, estimates of MPCE values at sub-state level for the state of Uttar Pradesh, including Baghpat District, have been generated. These estimates of MPCE figures, in turn, would provide an idea of the economic conditions of the households and thereby, facilitating policy decisions for implementation of developmental programmes.

The approach adopted in this study can be extended to other States and other socio-economic indicators. States have been encouraged to adopt similar approaches to fill data gaps and generate district-level estimates, especially where direct survey estimates are weak due to small sample sizes or are not available.

The report has been placed in public domain through MoSPI’s website and is freely accessible by Ministries/Departments and other users.

Annexure

Table: District-wise MPCE Estimates (in Rs.) of Uttar Pradesh (U.P.) using Model-based Small Area Estimation (SAE) Approach for Rural and Urban Sector

District

MPCE (Rural)

MPCE (Urban)

FH

SFH

FH

SFH

Saharanpur

3692

4056

4935

5025

Muzaffarnagar

3967

4020

6081

6136

Bijnor

3892

3930

3581

3585

Moradabad

3572

3582

4096

4086

Rampur

3750

3478

4153

4144

Amroha

3661

3722

3052

3056

Meerut

4279

4272

5482

5484

Bagpat

4347

4306

6995

6999

Ghaziabad

4044

4092

5597

5631

Gb Nagar

4454

4353

9705

9477

Bulandshahr

3922

3962

4272

4287

Aligarh

3614

3626

4238

4254

Hathras

3559

3561

4447

4426

Mathura

3531

3578

4135

4125

Agra

3590

3566

4808

4809

Firozabad

3105

3182

4187

4190

Mainpuri

3509

3415

4161

4185

Badaun

2899

2955

4183

4179

Bareilly

3633

3545

4628

4624

Pilibhit

3135

3147

3915

3918

Shahjahanpur

3327

3275

4341

4279

Kheri

3087

3081

4416

4406

Sitapur

3099

3097

3698

3714

Hardoi

2831

2841

3864

3877

Unnao

3049

3032

4476

4462

Lucknow

3248

3206

6622

6593

Rae Bareli

2926

2931

3979

3981

Farrukhabad

3146

3144

4473

4458

Kannauj

2597

2667

3449

3456

Etawah

3310

3228

5440

5295

Auraiya

2884

2883

3581

3583

Kanpur Dehat

3094

3077

3823

3831

Kanpur Nagar

2929

2907

4934

4937

Jalaun

3464

3393

4305

4315

Jhansi

3777

3690

4644

4765

Lalitpur

3133

3186

4288

4300

Hamirpur

2896

2994

5053

5074

Mahoba

3999

3868

4832

4850

Banda

2865

2876

4335

4322

Chitrakoot

3510

3314

3924

3921

Fatehpur

2936

2935

3922

3941

Pratapgarh

2847

2853

3716

3698

Kaushambi

2971

2975

3568

3557

Prayagraj

2967

2948

5048

5034

Barabanki

3041

3050

5155

5180

Faizabad

2609

2639

4827

4859

Ambedkar Nagar

3019

2980

2653

2649

Sultanpur

2904

2893

3636

3618

Behraich

3340

3375

4761

4782

Shrawasti

4462

4118

4182

4089

Balrampur

3559

3572

5087

5211

Gonda

3636

3622

8133

7861

Siddharth Nagar

2666

2706

3060

3124

Basti

2961

2959

3371

3397

Sk Nagar

2943

2922

4505

4417

Maharajganj

2778

2770

4170

4142

Gorakhpur

2878

2883

5777

5763

Kushinagar

2739

2746

3545

3550

Deoria

3105

3079

3883

3877

Azamgarh

2885

2891

3163

3156

Mau

2814

2808

2937

2930

Balliya

2753

2765

2581

2575

Jaunpur

2713

2718

3429

3413

Ghazipur

2579

2579

2771

2738

Chandauli

2367

2353

3401

3398

Varanasi

2755

2697

4171

4148

Bhadohi

2446

2444

3499

3479

Mirzapur

2409

2393

3909

3910

Sonbhadra

2357

2337

5524

5094

Etah

3833

3776

4354

4351

Kasganj

3372

3366

4001

3993

Shamli

3976

4026

6021

6137

Sambhal

3569

3557

4087

4074

Hapur

4043

4065

5578

5582

Amethi

2916

2906

3828

3826

Note: FH denotes Fay–Herriot (FH) model and SFH denotes Spatial FH

This information was given by the Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation; Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Culture Rao Inderjit Singh in Lok Sabha today.

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