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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
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    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
    Currently nine trade disputes pending against India under WTO rules: Govt
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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
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    August 4, 2026
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    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
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    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
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    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
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    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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      What to know about fatal shooting of woman by ICE officer in Minneapolis

      January 10, 2026

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      Minneapolis (US), Jan 10 (AP) Protesters confronted federal officers in Minneapolis on Thursday, a day after a woman was fatally shot by an Immigration and Customs Enforcement officer.

      The demonstrations came amid heightened tensions after President Donald Trump’s administration dispatched 2,000 officers and agents to Minnesota for its latest immigration crackdown.

      Across the country, another city was reeling after federal immigration officers shot and wounded two people in a vehicle outside a hospital in Portland, Oregon.

      The killing of 37-year-old Renee Good in Minneapolis on Wednesday set off a clash between federal and state officials over whether the shooting appeared justified and whether a Minnesota law enforcement agency had jurisdiction to investigate.

      Here’s what is known about the shooting: How it unfolded --------------------- The woman was shot in her SUV in a residential neighbourhood south of downtown Minneapolis, about a mile (1.6 kilometres) from where police killed George Floyd in 2020. Videos taken by bystanders and posted online show an officer approaching a vehicle stopped in the middle of the road, demanding the driver open the door and grabbing the handle.

      The Honda Pilot begins to pull forward, and a different ICE officer standing in front of the vehicle draws his gun and immediately fires at least two shots at close range, jumping back as the vehicle moves toward him.

      It is not clear from the videos if the officer gets struck by the SUV, which speeds into two cars parked on a curb before stopping.

      It’s also not clear what happened in the lead-up to the shooting.

      Homeland Security Secretary Kristi Noem said the SUV was part of a group of protesters that had been harassing agents and “impeding operations” that morning. She said agents had freed one of their vehicles that was stuck in the snow and were leaving the area when the confrontation and shooting occurred.

      No video has emerged to corroborate Noem’s account. A bystander video from the shooting scene shows a sobbing woman who says the person shot was her wife. That woman hasn’t spoken publicly to give her version of events.

      The victim was a ‘wife and mom’ --------------------------------------- Good died of gunshot wounds to the head.

      A US citizen born in Colorado, Good described herself on social media as a “poet and writer and wife and mom.” Her ex-husband said Good had just dropped off her 6-year-old son at school on Wednesday and was driving home when she encountered ICE agents on a residential street.

      He said Good and her current partner moved to Minneapolis last year from Kansas City, Missouri.

      Good’s killing is at least the fifth death to result from the aggressive US immigration crackdown the Trump administration launched last year.

      Noem says the officer followed training ----------------------------------------------- Noem said Thursday that there would be a federal investigation into the shooting, though she again called the woman’s actions “domestic terrorism.” “This vehicle was used to hit this officer,” Noem said. “It was used as a weapon, and the officer feels as though his life was in jeopardy.” Vice President JD Vance said the shooting was justified and referred to Good’s death as “a tragedy of her own making.” Minneapolis Police Chief Brian O’Hara gave no indication that the driver was trying to harm anyone when he described the shooting to reporters on Wednesday. Minneapolis Mayor Jacob Frey said he had watched videos of the shooting that show it was avoidable.

      The officer has been an ICE deportation agent since 2015 ------------------------------------------------------------------- The agent who shot Good is an Iraq War veteran who has served for nearly two decades in the Border Patrol and US Immigration and Customs Enforcement, according to records obtained by The Associated Press.

      Jonathan Ross has been a deportation officer with ICE since 2015, records show. He was seriously injured this summer when he was dragged by the vehicle of a fleeing suspect whom he shot with a stun gun.

      Federal officials have not named the officer. But Noem said he was dragged by a vehicle in June, and a department spokesperson confirmed Noem was referring to the Bloomington, Minnesota, case in which documents identified the injured officer as Ross.

      Court documents say Ross got his arm stuck in the window as a driver fled arrest in that incident. Ross was dragged 100 yards (91 metres), and cuts to his arm required 50 stitches.

      A man and a woman were wounded in Portland ------------------------------------------------------- According to police, officers initially responded to a report of a shooting outside a hospital on Thursday afternoon.

      Minutes later, police heard that a man who had been shot was asking for help in a residential area a couple of miles away. Officers went there and found a man and a woman with gunshot wounds. Officers determined they were wounded in a shooting with federal agents.

      Police Chief Bob Day said the FBI was leading the investigation, and he had no details about events that led to the shooting.

      The Department of Homeland Security said the vehicle’s passenger was “a Venezuelan illegal alien affiliated with the transnational Tren de Aragua prostitution ring” who was involved in a recent shooting. When agents identified themselves to the occupants during a “targeted vehicle stop,” the driver tried to run them over, the department said. An agent fired in self-defence, it said.

      There was no immediate independent corroboration of that account or of any gang affiliation of the vehicle’s occupants.

      Trump and his allies have consistently blamed Tren de Aragua for being at the root of violence and illicit drug dealing in some US cities.

      Federal and Minnesota leaders dispute jurisdiction to investigate -------------------------------------------------------------------------- Drew Evans, head of the Minnesota Bureau of Criminal Apprehension, said Thursday that federal authorities have denied the state agency access to evidence in the Good case, barring the state from investigating the shooting alongside the FBI.

      Minnesota Gov. Tim Walz demanded that state investigators be given a role, telling reporters that residents would otherwise have difficulty accepting the findings of federal law enforcement.

      “And I say that only because people in positions of power have already passed judgment from the president to the vice president to Kristi Noem,” Walz said.

      Noem denied that Minnesota authorities were being shut out, saying: “They don’t have any jurisdiction in this investigation.” Protesters met with pepper spray and tear gas ------------------------------------------------------ Dozens of protesters gathered Thursday morning outside a Minneapolis federal building being used as a base for the immigration crackdown. Border Patrol officers fired tear gas and doused demonstrators with pepper spray to push them back from the gate.

      Area schools were closed as a safety precaution.

      Protests were also planned across the US in cities including New York, New Orleans and Seattle. (AP) SKS SKS

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