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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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August 4, 2026
Show AI Summary
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
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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
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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
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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
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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
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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
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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.
August 4, 2026
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MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
August 4, 2026
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Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
August 4, 2026
Show AI Summary
Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
August 4, 2026
Show AI Summary
WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
August 4, 2026
Show AI Summary
Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
August 4, 2026
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Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
August 4, 2026
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Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
August 4, 2026
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Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
August 4, 2026
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Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
August 3, 2026
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Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.

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Customs & Trade

HIGHLIGHTS AT 5 PM

December 12, 2025

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New Delhi, Dec 12 (PTI) Following are the top stories at 5 PM: NATION DEL53 CAB-CENSUS (4.45 PM)

Cabinet nod for Census 2027; Rs 11,718 crore sanctioned New Delhi: Union minister Ashwini Vaishnaw on Friday said the government has approved Rs 11,718 crore for the conduct of the Census of India 2027.

BOM15 MH-4THLD SHIVRAJ PATIL (2.46 PM)

Congress stalwart and Ex-Union minister Shivraj Patil passes away at 90; funeral on Saturday Latur: Veteran Congressman Shivraj Patil, who served as the Lok Sabha Speaker and was Union Home Minister during the 26/11 attacks, passed away at his hometown Latur in Maharashtra on Friday morning, family sources said.

PAR11 LS-LD RAHUL (2.27 PM)

Rahul Gandhi flags issue of air pollution, seeks discussion in LS New Delhi: Leader of the Opposition Rahul Gandhi on Friday said major cities across the country were living under a blanket of poisonous air, and sought a discussion on the issue of air pollution in Lok Sabha.

DEL38 AVI-INDIGO-EXPERT-PROBE (3.48 PM)

IndiGo board ropes in external aviation expert for flight disruption probe Mumbai: IndiGo's board on Friday announced the appointment of an external aviation expert to carry out a root-cause analysis of recent flight disruptions.

CAL13 MN-PRESIDENT-SPEECH (1. 45 PM)

President Murmu urges all communities in Manipur to support efforts for peace, reconciliation Imphal: President Droupadi Murmu on Friday called on all the communities of Manipur to continue the efforts for peace, understanding, and reconciliation and said that the Union government is committed to the well-being and progress of the people of the state.

DEL41 LSQ-MEA-MIDDLE EAST (4.03 PM)

5,945 Indians evacuated from Middle East during last 3 years in view of their safety: Govt New Delhi: Keeping in view their safety and security, the government has evacuated 5,945 Indian nationals from Israel, Iran, Syria and Iraq in the Middle East during the last three years, the Centre informed the Parliament on Friday.

CAL18 AS-ZUBEEN-CHARGESHEET-MURDER (3.10 PM)

Zubeen Garg death: 4 accused charged with murder in SIT chargesheet Guwahati: A Special Investigation Team (SIT), probing into the death of singer Zubeen Garg, on Friday charged four accused with murder in its chargesheet filed in a Guwahati court.

PAR13 LS-ISSUES (3.56 PM)

LS: BJP's Anurag Thakur accuses DMK-led TN govt of 'crushing' sentiments of Hindus New Delhi: BJP leader Anurag Thakur on Friday accused the Tamil Nadu government of contempt of court for cane-charging Hindu devotees taking out a procession at Thiruparankundram temple near Madurai.

DEL25 GOVT-CIC (1.14 PM)

CIC appointments: Govt sources counter Rahul, say 5 of 8 shortlisted names from disadvantaged groups New Delhi: A high-level panel has recommended the names of five people belonging to disadvantaged sections for filling vacancies in the CIC, sources said, dismissing opposition leader Rahul Gandhi's reported claim that the finalised list lacked names from SC, ST, OBC and minority communities.

CAL20 AN-SHAH-BHAGWAT-STATUE (4.02 PM)

Shah, Bhagwat unveil statue of Savarkar in Andamans Sri Vijaya Puram: Union Home Minister Amit Shah and RSS chief Mohan Bhagwat on Friday unveiled a statue of Vinayak Damodar Savarkar at Beodnabad in the Andaman and Nicobar Islands.

CAL10 AS-ACCIDENT-LD SURVIVOR (1.11 PM)

Lone Arunachal accident survivor admitted to Assam hospital in critical condition Dibrugarh/Tinsukia: The lone survivor of the Arunachal Pradesh road accident in which 18 people died, has been admitted to Assam Medical College and Hospital (AMCH) in Dibrugarh in a critical condition, officials said on Friday.

DEL32 RSQ-MGNREGS-DAYS (3.17 PM)

Average 50 days of employment per household provided under MGNREGS in last five years: Govt New Delhi: An average 50 days of employment per household was provided to workers under the Mahatma Gandhi National Employment Guarantee Scheme (MGNREGS) in the last five years, Minister of State for Rural Development Kamlesh Paswan informed the Rajya Sabha on Friday.

BOM16 MH-ASSEMBLY-SCUFFLE-REPORT (3.21 PM)

2 BJP, NCP (SP) supporters get civil custody, barred from entering Vidhan Bhavan over scuffle Nagpur: The Maharashtra legislature's privileges committee on Friday recommended two-day 'civil custody' for two supporters of rival BJP and NCP (SP) MLAs and a ban on their entry in Vidhan Bhavan premises for their involvement in a scuffle during the monsoon session.

CAL19 NL-DZUKOU-FIRE (3.14 PM)

Major wildfire breaks out in Nagaland's Western Dzukou Valley Kohima: A major wildfire broke out in Nagaland's Western Dzukou Valley in Kohima district on Friday, officials said.

CAL14 MN-BIREN-MLAs (2.14 PM)

BJP central leadership has asked party MLAs to reach Delhi for discussion: Biren Singh Imphal: Former Manipur chief minister N Biren Singh on Friday said the BJP central leadership has asked the party MLAs to come to Delhi to discuss issues related to the state.

MDS8 KL-JUSTICE-COURTS-CPIM (12.51 PM)

Some Kerala courts not showing sense of justice expected of them: CPI(M) gen secy Thiruvananthapuram: CPI(M) general secretary M A Baby on Friday said that some courts in Kerala are unable to show the "sense of justice" expected of them by the public in certain cases and termed it as "unfortunate".

MDS12 TN-THIRUPPARANKUNDRAM-BJP(R) (1.59 PM)

Doesn’t augur well for democracy if TN govt aims to appease minorities: BJP chief Chennai: Tamil Nadu BJP chief Nainar Nagenthran has said that it does not augur well for democracy when the state government challenges the authority of the judiciary to appease minorities but accepts judgment only when they are delivered in its favour.

MDS19 KA-ASSEMBLY-AEROSPACE-DEFENCE (4.07 PM)

Dropping land acquisition will not be setback to Aerospace & Defence Park: Minister Belagavi (Karnataka): Karnataka Industries Minister MB Patil on Friday told the Assembly that the state government's decision to drop acquisition of 1,777 acres in Devanahalli near Bengaluru, following farmers' protests, will not be a setback to the Aerospace & Defence Park project there.

BUSINESS DEL33 BIZ-INDIA-RUSSIAN-OIL (3.22 PM)

India's Russian crude imports hit five-month high in Nov; fuel exports to Australia soar New Delhi: India's imports of Russian crude oil rose 4 per cent in November to a five-month high of Euro 2.6 billion, with a large part of the refined fuels produced from it being exported to Australia, a European think tank said.

DEL26 BIZ-CCI-INDIGO (1.15 PM)

Regulator CCI examining whether IndiGo violated competition norms: Official New Delhi: Fair trade watchdog CCI is examining whether the country's largest airline, IndiGo, violated competition norms, a senior official said on Friday amid the carrier facing regulatory scrutiny over significant flight disruptions.

DEL34 CAB-INSURANCE-BILL (3.30 PM)

Cabinet approves bill to hike FDI in insurance sector to 100 pc New Delhi: The Union Cabinet on Friday approved a bill to raise foreign direct investment in the insurance sector to 100 per cent, according to sources.

LEGAL LGD12 SC-KL-MUNAMBAM (3.52 PM)

SC stays Kerala HC order on Munambam land, orders status quo on disputed property New Delhi: The Supreme Court on Friday stayed the Kerala High Court order that said notifying the Munambam land as waqf was a "land-grabbing tactic of the Kerala Waqf Board" and ordered status quo over the property in dispute.

LGD13 SC-KARUR STAMPEDE (4.14 PM)

Karur stampede: SC refuses to modify its direction on suspension of enquiry commission New Delhi: The Supreme Court on Friday turned down Tamil Nadu government's plea to modify its order suspending a one-man enquiry commission and the SIT to look into the Karur stampede in which 41 people were killed saying, "We want everything to be fair and impartial."

LGD10 SC-DEPORTATION-COMMENTARY (2.09 PM)

We are completely immune, says SC, flags half-baked running commentary on pending cases New Delhi: Observing that half-baked truth and ill-informed running commentary on sub-judice cases affects public perception, the Supreme Court on Friday asserted that it is "completely immune" from reporting of cases for the sake of publicity or narrative building.

LGD9 SC-JUDICIARY (1.38 PM)

Don't bring down judiciary by filing such cases: SC on plea challenging its decision on RTE Act New Delhi: Don't bring down the judiciary by filing such cases, the Supreme Court on Friday remarked while expressing strong displeasure over a plea challenging its earlier decision granting exemption to minority schools from the provisions of the Right to Education Act.

FOREIGN FGN35 RUSSIA-FROZEN ASSETS (3.59 PM)

Russia's central bank to approach court amid EU plans to confiscate frozen assets Moscow: Russia's central bank on Friday described the European Union’s decision to freeze its assets as “illegal actions” and threatened to file lawsuits to recover damages. By Vinay Shukla

FGN34 PAK-CM-LD IMRAN (3.08 PM)

Pakistan’s KPK CM alleges Imran Khan subjected to mistreatment in jail Peshawar: Pakistan’s Khyber Pakhtunkhwa province Chief Minister Muhammad Sohaib Afridi on Friday alleged that former prime minister Imran Khan and his wife Bushra Bibi are being subjected to mistreatment in jail.

FES26 SINGAPORE-INDIA-WOMEN (1.33 PM)

High Commission sets up centre in Singapore to help Indian women in distress Singapore: The High Commission in Singapore has opened a One Stop Centre (OSC) as part of the government’s scheme to support Indian women in distress overseas.

* PTI PRK

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