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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
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    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
    Show AI Summary
    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.

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      From Minneapolis to Venezuela, Trump piles up risks as he faces midterm verdict

      January 14, 2026

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      New York, Jan 14 (AP) It's only two weeks into the new year, and President Donald Trump has already claimed control of Venezuela, escalated threats to seize Greenland and flooded American streets with masked immigration agents.

      And that's not even counting an unprecedented criminal investigation at the Federal Reserve, a cornerstone of the national economy that Trump wants to bend to his will.

      Even for a president who thrives on chaos, Trump is generating a stunning level of turmoil as voters prepare to deliver their verdict on his leadership in the upcoming midterm elections that will determine control of Congress.

      Each decision carries tremendous risks, from the possibility of an overseas quagmire to undermining the country's financial system, but Trump has barreled forward with a ferocity that has rattled even some of his Republican allies.

      “The presidency has gone rogue,” said historian Joanne B. Freeman, a Yale University professor. She said it's something "we haven't seen in this way before.” Trump seems undeterred by the potential blowback. Although he doesn't always follow through, he seems intent on doubling and tripling down whenever possible.

      “Right now I'm feeling pretty good," Trump said Tuesday in Detroit. His speech was ostensibly arranged to refocus attention on the economy, which the president claimed is surging despite lingering concerns about higher prices.

      However, he couldn't resist lashing out at Jerome Powell, who leads the Federal Reserve and has resisted Trump's pressure to lower interest rates.

      "That jerk will be gone soon,” Trump said.

      Federal Reserve probe a step too far -------------------------------------------- Republican leaders have overwhelmingly rallied behind Trump throughout his turbulent second term. But new cracks began to appear this week, immediately after Powell disclosed on Sunday that the Federal Reserve was facing a criminal investigation over his testimony about the central bank's building renovations.

      Over the last year, the Justice Department has already pursued criminal charges against former FBI Director James Comey, New York Attorney General Letitia James and former national security adviser John Bolton, among other Trump adversaries.

      But going after Powell, who helps set the nation's monetary policy, appeared to be a step too far for some conservatives. Fox Business host Maria Bartiromo, a fierce Trump defender, was unusually critical.

      “It just feels like most on Wall Street do not want to see this kind of fight,” she said during her Monday show. “The president has very good points, certainly. But Wall Street doesn't want to see this kind of investigation.” The Federal Reserve plays a key role in the economy by calibrating interest rates, which Trump insists should be lower. However, reducing the institution's independence could backfire and cause borrowing costs to increase instead.

      Trump takes America First's foreign policy in a new direction ---------------------------------------------------------------------- At the same time, Trump has decided to expand the United States' role in complicated foreign entanglements — a seeming departure from the “America First” foreign policy that he promised on the campaign trail.

      No move was more significant than the US military operation earlier this month to remove Venezuelan President Nicolás Maduro and his wife from his country. In the months leading up to the attack, Trump frequently insisted he was targeting Maduro because of his role in the drug trade. He has quickly pivoted to portraying the move as an economic opportunity for the US Trump has said the US will start controlling the sale of some Venezuelan oil, and he declared that the South American nation will be run from Washington. He even posted a meme declaring himself the “acting president of Venezuela.” Trump has also threatened the leadership of Cuba and Iran, while insisting that the US will control Greenland “ one way or the other ” — a position that has raised questions about US relations with European allies. Greenland belongs to Denmark, a NATO member.

      Immigration raids sow chaos ------------------------------------- Meanwhile, Trump's immigration crackdown continues to spark confrontations in American cities. Some have turned deadly, such as when a federal agent shot Renee Good, a 37-year-old mother of three in Minneapolis.

      Administration officials have said the US Immigration and Customs Enforcement officer acted in self-defence, accusing Good of trying to hit him with her car. But that explanation has been widely disputed by local officials and others based on videos circulating online.

      The incident came after Trump dispatched 2,000 immigration agents to Minnesota, responding to reports of fraud involving the state's Somali community.

      On Tuesday, Trump said the administration was targeting “thousands of already convicted murderers, drug dealers and addicts, rapists, violent released and escaped prisoners, dangerous people from foreign mental institutions and insane asylums, and other deadly criminals too dangerous to even mention.” The Trump administration's moves have created “chaos, confusion and uncertainty,” said Cleveland Mayor Justin Bibb, who leads the Democratic Mayors Association.

      “There's so much uncertainty across my city right now. The ICE raids in Minneapolis have really shocked the consciousness of many of my residents, and we're trying to do everything we can to calm those concerns and quell those fears," Bibb said. “But people don't feel like the world is getting better. People don't feel like the economy is getting better.” Midterm elections are a political test -------------------------------------------- Voters across the nation will have their next chance to weigh in on Trump's leadership at the ballot box this November, when Republicans hope to retain control of Congress for the last two years of his presidency.

      Democratic campaign officials in Washington are focused largely on the economy in their early political messaging. Most voters maintain a decidedly negative view on the issue, despite Trump's rosy assessment this week.

      Just 31 per cent of US adults approved of how the president is handling the economy, according to a December poll from The Associated Press-NORC Centre for Public Affairs Research. That marked the lowest economic approval he's registered in an AP-NORC poll in his first or second term.

      “Donald Trump's visit to Michigan puts a glaring, unflattering spotlight on how he and House Republicans have failed to address the affordability crisis," said Rep. Suzan DelBene, who leads the Democrats' House campaign arm.

      But some activists are frustrated that their party's leadership isn't focusing more on Trump's unprecedented power grabs.

      Ezra Levin, co-founder of the leading progressive protest group Indivisible, said he expects Trump's actions to get worse as his second and final term nears its conclusion.

      “Folks at the end of last year who thought he would become a typical lame duck and limp toward a midterm loss have a framework for understanding this moment that is drastically outdated,” Levin said. “Authoritarians don't willingly give up power. When weakened and cornered, they lash out.” Trump has repeatedly insisted he's only doing what voters elected him to do, and his allies in Washington remain overwhelmingly united behind him.

      Republican National Committee spokesperson Kiersten Pels predicted that voters will reward the party this year.

      “Voters elected President Trump to put American lives first — and that's exactly what he's doing," she said. "President Trump is making our country safer, and the American people will remember it in November.” (AP) SKS SKS

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