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    Andhra records 21 per cent growth in net GST collections till July
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    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
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August 1, 2026
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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
Show AI Summary
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.
August 1, 2026
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
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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
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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.

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Customs & Trade

Iran, US hold indirect talks in Oman; America's military leader in Mideast joins talks

February 7, 2026

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Muscat, Feb 7 (AP) Iran and the US have held indirect talks in Oman, in negotiations that appeared to return to the starting point on how to approach discussions over Tehran's nuclear programme. But for the first time, America brought its top military commander in the Middle East to the table.

The presence of US Navy Adm Brad Cooper, head of the military's Central Command, in his dress uniform at the talks in Muscat, the Omani capital, on Friday served as a reminder that the aircraft carrier USS Abraham Lincoln and other warships were now off the coast of Iran in the Arabian Sea.

President Donald Trump said the United States had “very good” talks on Iran and said more were planned for early next week. But he kept up the pressure, warning that if the country didn't make a deal over its nuclear programme, “the consequences are very steep”.

“Iran looks like they want to make a deal very badly — as they should,” Trump told reporters aboard Air Force One as he headed to his Florida golf club late Friday. He suggested Iran was willing to “do more” than in previous talks but did not give details.

Asked how long he was willing to wait for a deal, Trump said: “We have plenty of time. If you remember Venezuela, we waited around for a while. We're in no rush." The Trump administration built up a huge military presence in the Caribbean Sea in the months before a US raid captured then-Venezuelan President Nicolas Maduro in January.

Trump has repeatedly threatened to use force to compel Iran to reach a deal on the programme after earlier sending the carrier to the region amid Tehran's bloody crackdown on nationwide protests that killed thousands and saw tens of thousands of others detained in the Islamic Republic.

Gulf Arab nations fear an attack could spark a regional war that would drag them in as well.

That threat is real — US forces shot down an Iranian drone near the Lincoln and Iran attempted to stop a US-flagged ship in the Strait of Hormuz just days before Friday's talks in this sultanate on the eastern edge of the Arabian Peninsula.

“We did note that nuclear talks and the resolution of the main issues must take place in a calm atmosphere, without tension and without threats,” Iranian Foreign Minister Abbas Araghchi later told journalists.

“The prerequisite for any dialogue is refraining from threats and pressure,” he added.

Araghchi said diplomats would return to their capitals, signalling this round of negotiations was over. The US was represented by Mideast special envoy Steve Witkoff and Jared Kushner, Trump's son-in-law.

In a display of force, the US military published photos on X of the Lincoln carrier group sailing in the Arabian Sea with aircraft flying overhead, with the message “Peace through Strength!” Araghchi offered cautious optimism as he spoke in a live interview from Muscat on Iranian state television. He said Friday's talks were focused primarily on finding a framework for further negotiations.

“We will hold consultations with our capitals regarding the next steps, and the results will be conveyed to Oman's foreign minister,” Araghchi said.

“The mistrust that has developed is a serious challenge facing the negotiations,” Araghchi said. “We must first address this issue, and then enter into the next level of negotiations.” Omani Foreign Minister Badr al-Busaidi, who oversaw multiple rounds of negotiations before Israel launched its 12-day war on Iran in June, called the talks “useful to clarify both the Iranian and American thinking and identify areas for possible progress.” The talks had initially been expected to take place in Turkey in a format that would have included regional countries as well, and would have included topics like Tehran's ballistic missile programme — something Iran apparently rejected in favour of focusing only on its nuclear programme.

Before the June war, Iran had been enriching uranium up to 60% purity, a short, technical step away from weapons-grade levels. The UN nuclear watchdog — the International Atomic Energy Agency — had said Iran was the only country in the world to enrich to that level that wasn't armed with the bomb.

Iran has been refusing requests by the IAEA to inspect the sites bombed in the June war, raising the concerns of nonproliferation experts. Even before that, Iran has restricted IAEA inspections since Trump's decision in 2018 to unilaterally withdraw America from Iran's 2015 nuclear deal with world powers.

Friday's talks saw in-person meetings at a palace near Muscat's international airport, used by Oman in earlier talks Iran-US talks in 2025. Associated Press journalists saw Iranian officials first at the palace and later returning to their hotel before the Americans came separately.

It remains unclear just what terms Iran is willing to negotiate at the talks. Tehran has maintained that these talks will only be on its nuclear programme. However, the Al Jazeera satellite news network reported that diplomats from Egypt, Turkey and Qatar offered Iran a proposal in which Tehran would halt enrichment for three years, send its highly enriched uranium out of the country and pledge “not initiate the use of ballistic missiles”.

Russia had signalled it would take the uranium, but Iran has said ending the programme or shipping out the uranium were nonstarters.

US Secretary of State Marco Rubio said Wednesday that the talks needed to include all those issues.

Shortly after Friday's talks, the US Treasury and the State Department announced a new round of sanctions on Iran targeting its energy sector, imposing penalties, including freezes on assets in US jurisdictions, on 14 oil tankers in a so-called “shadow fleet” that the US says are used to try to evade sanctions, as well as on 15 trading firms and two business executives.

Trump also signed an executive order that says an import tax of potentially 25% “may” be imposed on goods from countries that buy oil from Iran. The order does not specifically impose tariffs so much as give the president the legal basis for levying them starting Saturday.

It says the potential tariffs can be removed if Iran or the foreign buyers of its oil align themselves with US interests on national security, foreign policy and economic issues.

In the past month, the US also has sanctioned Iran's interior minister, the secretary of the Supreme Council for National Security, and several other leaders involved in Iran's deadly crackdown against last month's protests. (AP) SCY SCY

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