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    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
    HIGHLIGHTS
    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
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    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.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
    Show AI Summary
    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
    Show AI Summary
    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
    Show AI Summary
    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
    Show AI Summary
    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
    Show AI Summary
    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
    Show AI Summary
    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.

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      About 50 pc turnout in Maharashtra civic polls; ink row leaves 'indelible' mark, SEC orders probe

      January 15, 2026

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      Mumbai, Jan 15 (PTI) Around 50 per cent polling was recorded in Mumbai and 28 other municipal corporations in Maharashtra on Thursday amid sporadic clashes, while a major controversy erupted over claims that the ink applied on voters' fingers could be easily removed.

      The polling day saw clashes among groups, allegations of bogus voting and distribution of cash as well as glitches in EVMs.

      Speaking shortly after voting ended at 5.30 pm, State Election Commissioner Dinesh Waghmare said the turnout in the 29 civic bodies was in the 46 per cent-50 per cent range. The exact polling figures will be declared later, another official said.

      Vote count will begin at 10 am on Friday.

      As per official data, 41.08 per cent of the eligible voters had cast their ballots in Mumbai, which has more than 1 crore electors, till 3.30 pm. The data data showed that ward no 114 in suburban Bhandup recorded the highest turnout at 53.34 per cent, while ward no 227 in Colaba, South Mumbai, reported the lowest turnout of 15.73 per cent till 3.30 pm.

      In the 2017 elections, the polling percentage in Mumbai was 55.53, while the average voting figure in 26 corporations - elections were held for the first time in Jalna and Ichalkaranji municipal corporations – was 56.35 per cent.

      On Thursday, the spotlight was on Mumbai, where the BJP-led Mahayuti alliance was locked in an intense battle with the reunited Thackeray cousins for control of India's largest and richest civic body.

      In the Brihanmumbai Municipal Corporation (BMC), whose annual budget is over Rs 74, 400 crore, there were 1,700 candidates in the arena for 227 seats in the elections held after a four-year delay.

      More than 25,000 police personnel were deployed across Mumbai to oversee elections.

      Polling for 2,869 seats across 893 wards in the 29 civic bodies began at 7.30 am and concluded at 5.30 pm. A total of 3.48 crore voters were eligible to decide the fate of 15,931 candidates, including 1,700 in Mumbai.

      Except for Mumbai, the 28 other urban bodies have multi-member wards.

      The BMC elections faced significant delays due to the COVID-19 pandemic, Supreme Court rulings on OBC reservations, and issues related to ward delimitation.

      The last BMC polls were held in 2017. The term of the corporators ended on 7 March 2022, and subsequent elections could not be held in time, resulting in the civic body being placed under an administrator.

      As voting commenced, social media was flooded with videos of ordinary voters, politicians, and some mediapersons using Acetone to wipe off the ‘indelible’ ink applied on their fingers after voting.

      The State Election Commission (SEC), however, rejected the allegations and warned of acting against those propagating such claims.

      In the evening, the SEC said it would conduct a thorough probe into the quality of the `indelible' ink in marker pens used for the polls, after Opposition leaders alleged that the mark on a voter's finger could be removed easily, enabling bogus voting.

      Speaking to PTI, State Election Commissioner Dinesh Waghmare said in view of the controversy, the SEC will not use marker pens for the Zilla Parishad elections scheduled on February 5.

      Instead, for the ZP polls, the poll panel will revert to the traditional ink -- produced by Mysore Paints and Varnish Ltd, a Karnataka government company -- used in assembly and Lok Sabha elections, said the IAS officer.

      "The SEC has decided to conduct a probe.....it will cover not only the ink quality but also the videos which were circulated throughout the day. The probe into videos is to ascertain whether the ink was applied on the finger while voting or in a mischievous way," Waghmare said.

      Shiv Sena (UBT) chief Uddhav Thackeray claimed irregularities in the civic polls, terming it an attempt to murder democracy, and urged voters to dislodge the “brutal, fraud, corrupt and dictatorial regime “ of the BJP.

      Uddhav and his cousin Raj Thackeray, who heads the Maharashtra Navnirman Sena, targeted the SEC over a range of issues, besides claiming that the ink used on voters' fingers could easily be erased.

      Addressing a news conference, Uddhav demanded the suspension of Waghmare, and alleged collusion between the poll body and the government.

      Terming the SEC an anti-constitutional body, Uddhav said, “Never ever such things (alleged irregularities) have happened before”, and said the ink used by the poll commission could be erased using hand sanitisers.

      Raj targeted the SEC over the use of the Printing Auxiliary Display Unit (PADU) in the civic polls.

      The SEC did not even bother to give any clarification on the use of PADU and extended the canvassing time to allow distribution of money (by ruling parties), he alleged.

      Raj Thackeray claimed that the SEC is using a new pen, due to which the markings on the voter's fingers disappeared.

      After casting his vote in the Nagpur Municipal Corporation (NMC) elections, Chief Minister Devendra Fadnavis said, “I have also been marked with a marker, is it erasing? Creating a ruckus on everything and raising questions is wrong.” A host of Bollywood personalities, including Akshay Kumar, Aamir Khan and Salman Khan, stepped out of their homes and voted in the Mumbai civic body polls with the hope that the "right" candidates will win and tackle crucial issues, from infrastructure challenges to pollution.

      Actors Hema Malini, Saira Banu, Shabana Azmi, John Abraham, Ranbir Kapoor, Kareena Kapoor Khan, Saif Ali Khan, Vicky Kaushal, Janhvi Kapoor, Shraddha Kapoor, Kartik Aaryan, Paresh Rawal and screenwriter Salim Khan, also exercised their franchise.

      'Khiladi' actor Kumar, one of the first to arrive at his designated polling booth, underscored the significance of making informed voting choices rather than merely expressing grievances about civic issues. The superstar encouraged Mumbaikars to perceive this day as an opportunity to wield their "remote control" over public representatives.

      "All the people of Mumbai must come out and vote, rather than complaining later about things like 'we don't have water, roads are not proper, and that there's no cleanliness, etc'. So, now it's our turn and we all should step out and vote for the right person. If you want to be the real hero of Mumbai, then instead of (mouthing) dialogues, come and vote, Kumar told reporters after casting his vote.

      Aamir Khan encouraged citizens to partake in the elections and lauded the BMC for making "good arrangements" at polling booths.

      Ranbir Kapoor, too, praised the civic body for providing great facilities to voters during elections and even during festivities like Ganesh Chaturthi.

      "We complain throughout the year saying, 'our city doesn't have this or that, and talk all the time about issues', so this is your time to come and vote, the 43-year-old 'Raajneeti' actor stated.

      Actor-politician and BJP MP Hema Malini emphasised that it's essential to vote for the right candidate to ensure a "cleaner, safer, and pothole-free" Mumbai.

      Cricket icon Sachin Tendulkar arrived with his wife, Anjali Tendulkar, and daughter, Sara Tendulkar, to cast his vote at the Pali-Chimbai Municipal School in Bandra.

      After casting his vote in Nagpur, RSS chief Mohan Bhagwat highlighted the importance of citizen participation in a democratic setup.

      Bhagwat said, "In a democratic setup, voting is needed to elect the government, and hence it is the duty of every citizen to vote.” Sporadic glitches in EVMs were reported during Pune Municipal Corporation (PMC) polls, but election officials said replacement machines were promptly installed as per procedure.

      NCP (SP) leader Rohit Pawar said some incidents of EVMs shutting down were reported at the start of polling in Pune and Pimpri Chinchwad municipal corporations.

      Mumbai Congress president Varsha Gaikwad alleged large-scale misuse of money and power by the ruling BJP-led alliance in the BMC elections.

      Dhule in North Maharashtra witnessed civic poll violence, including two groups scuffling and damaging an EVM and a mob attacking the residence of a Shiv Sena leader, police said.

      The residence of Shiv Sena's Dhule district chief Manoj More at Krushi Colony in Deopur was attacked by 20 persons, an official said.

      The mob barged into More's house, pelted stones and damaged vehicles, allegedly over a dispute between him and BJP's Vilas Shinde on withdrawing candidature, the official added.

      Defying age and inspiring many, a 98-year-old former school teacher cast her vote in Thane, proving that duty to democracy knows no barriers.

      Leela Shrotri, a resident of Parmar House at Tembhi Naka in Thane and the great-grandmother of actor Pushkar Shrotri, left onlookers in awe of her unwavering enthusiasm as she arrived at a polling booth at a school to cast her vote. PTI MR PR ND KK DC SPK CLS AW KKP BNM GK NR KRK VT RSY

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