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September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.

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INCREASE IN AGRICULTURAL INPUT QUALITY, FARM MECHANISATION, MARKET SUPPORT, CROP INSURANCE AND CREDIT LEAD TO HUGE POSITIVE OUTCOMES: ECONOMIC SURVEY

January 29, 2026

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6.85 LAKH SEED VILLAGES CREATED AND AROUND 1649.26 LAKH QUINTAL OF QUALITY SEEDS PRODUCED UNDER THE SUB-MISSION ON SEEDS AND PLANTING MATERIALS

GROSS IRRIGATED AREA AS A SHARE OF CROSS CROPPED AREA INCREASED FROM 41.7% IN 2001-02 TO 55.8% IN 2022-23.

OVER 25.55 CRORE SOIL HEALTH CARDS ISSUED

UNDER PM-KISAN, MORE THAN 4.09 LAKH CRORE RUPEES RELEASED TO MORE THAN 11 CRORE ELIGIBLE FARMERS IN 21 INSTALLMENTS

Productivity enhancements are a factor of in situ and post-harvest interventions states the Economic Survey 2025-26 tabled in Parliament today by the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman. Several key initiatives to achieve this have been highlighted in the Economic Survey 2025-26.

QUALITY SEEDS:

The Sub-Mission on Seeds and Planting Materials (SMSP), launched in 2014–15, aims to ensure farmers have access to high-quality seeds by promoting seed production, processing, storage, and certification nationwide. Under this initiative, 6.85 lakh Seed Villages were created, 1649.26 lakh quintals of quality seeds were produced, and 2.85 crore farmers benefited. A National Mission on High-Yielding Seeds has been announced in the Union Budget 2025-26, aimed at strengthening the research ecosystem, targeting the development and propagation of climate-resilient high-yielding varieties, and improving the commercial availability of more than 100 new seed varieties.

IRRIGATION AND WATER-USE EFFICIENCY:

Access to assured water through irrigation is a key driver of agricultural productivity. Effective irrigation systems provide farmers with the certainty of water when needed, improve nutrient uptake, make agriculture more resilient to the vagaries of nature, facilitate crop diversification, and enable multiple cropping.

The government promotes micro-irrigation by providing 55 per cent financial assistance to small and marginal farmers and 45 per cent to other farmers for the installation of Drip and Sprinkler systems under the PDMC program. As a result, the gross irrigated area as a share of the gross cropped area has increased from 41.7 per cent in 2001-02 to 55.8 per cent in 2022-23.

SOIL HEALTH AND BALANCED NUTRIENT MANAGEMENT:

Declining soil health, particularly a decline in soil organic carbon, poses a major challenge to agricultural productivity in India. The Government has taken steps to address this through the Soil Health Management (SHM) and Soil Health Card (SHC) schemes under the National Project on Management of Soil Health & Fertility, promoting integrated nutrient management by combining chemical fertilisers with organic manures and bio-fertilisers. Over 25.55 crore cards have been issued (as of 14 November 2025).

India has already undertaken important steps to improve fertiliser management. Nutrient based pricing, neem-coating of urea, Aadhaar-linked point-of-sale verification, and the Integrated Fertiliser Management System have improved transparency, logistics and control over physical flows.

MECHANISATION AND COLLECTIVE ACCESS:

The Government has made significant efforts to promote farm mechanisation through the Sub-Mission on Agricultural Mechanisation (SMAM), providing assistance to State Governments for training and demonstration of agricultural machinery, establishing Custom Hiring Centres (CHCs), and supporting farmers in procuring farm equipment. Between 2014-15 and 2025-26, a total of 25,689 CHCs have been established under the scheme, including 558 CHCs set up during 2025-26 (as of 30 Oct, 2025).

INFRASTRUCTURE AND MARKETING SUPPORT:

Recognising the need to crowd in private investment for agricultural marketing, the Government has implemented the Agriculture Marketing Infrastructure (AMI) sub-scheme under the Integrated Scheme for Agricultural Marketing (ISAM) since 2014.

As of 31 December 2025, 49,796 storage projects have been sanctioned with ₹4,832.70 crore released, while 25,009 other marketing infrastructure projects received ₹2,193.16 crore in subsidy.

The Agriculture Infrastructure Fund (AIF) was launched with a financing facility of ₹1 lakh crore (FY 21 to FY 26, support extending to FY33), offering medium-term debt for post-harvest management and community farming projects with interest subvention and credit guarantees.

To improve price discovery and competitive access to buyers, the Government launched e-NAM in April 2016 as a pan-India virtual market platform. By 31 December 2025, e-NAM registered around 1.79 crore farmers, 2.72 lakh crore traders, and 4,698 FPOs, covering 1,522 mandis across 23 states and 4 UTs. To strengthen collective marketing, the Government launched a new FPO scheme in 2020 with a budget of ₹6,860 crore through 2027-28, aiming to form 10,000 FPOs. By 31 December 2025, 10,000 FPOs were registered.

PRICE AND INCOME SUPPORT:

Price and Income support policies are essential because farm incomes remain unstable due to weather shocks, market volatility, and rising input costs. Small and marginal farmers have limited resilience and weak bargaining power. Assured income and fair prices provide basic stability, encourage productive investment, and help sustain viable agricultural livelihoods. To ensure remunerative prices for farmers, the government announces Minimum Support Prices (MSP) for 22 mandated crops. The Union Budget for 2018-19 announced the predetermined principle of keeping the MSP at 1.5 times the cost of production.

The government has announced the increase in MSP for all mandated Kharif and Rabi crops for the Kharif Marketing Season (KMS) 2025-26 and for the Rabi Marketing Season (RMS) 2026-27, respectively.

Furthermore, income support through assured prices and schemes, such as the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), has further contributed to strengthening farm incomes, sustaining investments and growth in the agricultural sector. Since its inception, under PM-KISAN, more than ₹4.09 lakh crore has been released to more than 11 crore eligible farmers in 21 instalments.

AGRICULTURAL CREDIT:

Agricultural credit flows from both formal sources, such as commercial banks, Regional rural banks (RRBs), cooperatives, small finance banks, and Microfinance Institutions (MFIs), and informal sources, including moneylenders, traders, and personal networks. Key frameworks, such as the Lead Bank Scheme and Priority Sector Lending, aim to ensure timely and targeted credit delivery to priority farm households and the rural economy.

Ground Level Credit (GLC) disbursement stood at ₹28.69 lakh crore, which includes ₹15.93 lakh crore under short term loans and ₹12.77 lakh crore under term loans, surpassing the ₹27.5 lakh crore target in FY 25. The KCC scheme, which had 7.72 crore operative accounts with outstanding balances of ₹10.20 lakh crore as of 31st March 2025, was further strengthened by the Modified Interest Subvention Scheme (MISS), which offered loans at a subsidised interest rate of 7 per cent with a 3 per cent prompt repayment incentive. Between FY15 and FY26, a total of ₹ 1.77 lakh crore was disbursed as a subsidy under MISS.

 

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