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    India placed in lower 10 pc US tariff bracket; reaffirms commitment to BTA
    Ratnaveer Precision Engineering Reports 20% Revenue Growth and 21% PAT Growth in Q1 FY27
    India placed in lower tariff tier at 10 pc under US Section 301 measures on forced labour: Govt
    ED report says CMRL ex-MD cited Veena’s ties to then Kerala CM for payments
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
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    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
    Sitharaman ask I-T officials to go after tax evaders, ensure convenience for honest taxpayers
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    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
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    Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions
    China slaps export controls on 14 EU entities in retaliation for Russia-related sanctions
    Rupee recovers 18 paise to settle at 96.55 against US dollar
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    July 25, 2026
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    Forced-labour import tariffs place Indian goods under an additional duty while exemptions preserve access for specified exports.
    A 10 per cent Section 301 additional import duty applies to specified Indian goods over and above ordinary most-favoured-nation duty, following a forced-labour-related investigation. Generic pharmaceuticals, smartphones, other specified products, and goods already subject to Section 232 sectoral duties remain outside the additional levy. The textile-specific mechanism has not yet been operationalised for India, while tariff-rate quota concessions using US-origin cotton and fibre were announced for certain other economies. India continues engagement on a bilateral trade agreement and tariff access for garments using American inputs.
    July 25, 2026
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    Copper Clad Laminate expansion advances through policy and rights-issue approvals, supporting domestic electronics manufacturing and strategic growth initiatives.
    The company reported progress on a proposed Copper Clad Laminate manufacturing project, including in-principle approval under the Gujarat Electronics Policy and substantial project completion. The facility is intended to support domestic electronics manufacturing and reduce import dependence. It also reported upgraded credit ratings, enhanced rated bank facilities, and stock-exchange in-principle approvals for a proposed rights issue supporting expansion and strategic growth initiatives.
    July 25, 2026
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    US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
    US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
    July 25, 2026
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    Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
    A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
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    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
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    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
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    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
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    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
    July 24, 2026
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    Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
    Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
    July 24, 2026
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    Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
    Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
    July 24, 2026
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    Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
    Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
    July 24, 2026
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    Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
    Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
    July 24, 2026
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    Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
    China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
    July 24, 2026
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    Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
    Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.

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      Par panel discusses issues related to MGNREGA, ways to adopt G RAM G Act in 6 months

      December 29, 2025

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      New Delhi, Dec 29 (PTI) A parliamentary panel on Monday examined various aspects of the UPA-era rural job guarantee law MGNREGA, which has now been replaced by the Narendra Modi government's VB-G RAM G Act, and how to move ahead in the next six months for a smooth transition to the new legislation.

      Sources said most members of the Parliamentary Standing Committee on Rural Development and Panchayati Raj talked about ways to be adopted in the next six months for smooth transition when the government shifts work policies from MGNREGA to the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) Act (VB-G RAM G), how the payments would be made to beneficiaries during this period and how additional budgetary support would be arranged.

      Committee Chairperson and Congress leader Saptagiri Ulaka said the members discussed various aspects of MGNREGA threadbare and how to go about in the next six months, as the new law will be implemented only when the rules are framed.

      He said that the members intend to discuss MGNERGA in the Budget session too, and for all these, there was a briefing session from the Ministry of Rural Development.

      "We had a good discussion. The new law has been passed but new rules have to be issued. All states will also have to come on board.

      "Today's meeting was on how to go about a smooth transition to the VB-G RAM G Act. Some members have given some suggestions too. We will give a report, then everything will be clear before you," he told reporters after the meeting.

      Ulaka said in a post on X that the meeting took stock of the current and evolving framework of MGNREGS, especially in the context of the new legislative arrangement (VB-G RAM G) and its implications for the scheme and rural livelihoods.

      Ulaka later told PTI that discussions were held in detail about the MGNREGA and VB-G RAM G and mainly about the old law which will lapse and the new legislation will come into effect.

      He said the members also discussed whether MGNREGA was still alive or not. It was said that the law would be in existence for six months, work could be demanded and there would be a budgetary provision.

      "It's not true that members supported the VB-G RAM G. Many issues came up, but everything can't be made public. The meeting was about MGNREGA, what is the stance and what is going to be its future," he said.

      Ulaka said the panel discussed how MGNREGA would work in future and during the transition period.

      "The meeting of the committee would be called again; we will further discuss it," he said.

      According to the sources, some members said it would take at least six months to implement the VB-G RAM G Act, as it will be implemented only after the rules are framed and they discussed what the new system and framework would look like.

      The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was passed by the Congress-led UPA in 2005. The VB-G RAM G Bill was passed in Parliament during the recently concluded Winter session amid vociferous protests by the opposition. The new Act has a provision for 125 days of wage employment for rural workers.

      Several members expressed concern that the enrolment under the old law was only around 50 per cent in many states and no member opposed the VB-G RAM G Act during the meeting, the sources said.

      Some opposition members admitted that there were certain shortcomings in the MGNREGA for which the committee had earlier made certain recommendations like extending the workdays from 100 to 150 days, they said.

      Some members also demanded that whatever recommendations were made by the committee earlier should be considered while preparing the rules for the VB-G RAM G Act, according to the sources.

      BJP MPs said the new legislation was needed since the existing law could not address the current problems of villages and basic infrastructure development in rural areas.

      The sources said that during the meeting, some MPs spoke about the reasons for bringing the VB-G RAM G Act. They suggested that the MGNREGA was brought with the twin objectives of providing rural jobs and developing the rural infrastructure but those objectives were not achieved. That is why the VB-G RAM G Act was brought by the government, they sources said.

      The BJP members also said there were examples from several states where even 50 per cent of the MGNREGA funds could not be utilised by the governments there.

      During the meeting, the secretary of the Ministry of Rural Development gave a presentation on the MGNREGA.

      According to the presentation, the sources said, except for Delhi and Chandigarh, MGNREGA is implemented in 741 districts, covering 2.69 lakh gram panchayats with 12.15 crore active workers.

      Of these, women constitute 57 per cent, SC/ST workers 36 per cent and 4.81 lakh persons with disabilities have also been provided employment. At present, more than 15 crore families with 26 crore beneficiaries are covered under the scheme, the sources said. PTI ACB KSS KSS

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