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    GST mop-up grows 8.1 pc to over Rs 1.83 lakh cr in Feb
    Iran Crisis: No immediate oil disruption for India; Russia pivot possible if conflict drags on
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March 1, 2026
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Goods and Services Tax collections rose driven by import revenue growth, with higher refunds and lower cess receipts.
Gross collections under the Goods and Services Tax increased year on year, driven mainly by a stronger rise in import related GST receipts; domestic GST rose more modestly. Total refunds increased, and net GST receipts were higher year on year, while cess receipts declined markedly compared with the prior year period.
March 1, 2026
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Energy supply resilience mitigates immediate oil disruption risk, though prolonged Hormuz closure heightens price and supply concerns.
India's layered inventory buffers - commercial stocks, in-transit crude and strategic petroleum reserves - and full refinery tanks reduce the likelihood of immediate physical disruption from a short-term Strait of Hormuz closure, shifting the principal near-term impact to price, freight and insurance volatility; prolonged closure would more severely affect LNG and LPG due to contract rigidity and transit dependence, prompting reliance on diversified sourcing, Russian optionality, longer transit planning and strategic reserve drawdowns.
March 1, 2026
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Bail parity: Former CMO official released after court found investigation substantially complete and parity with other accused.
The court evaluated bail petitions in parallel Economic Offences Wing and Enforcement Directorate inquiries alleging a syndicate diverted liquor to government shops and laundered proceeds; it found the investigation substantially complete, trial unlikely to conclude soon, and that continued detention would not serve justice. Prosecution relied on asserted digital communications and co-accused statements alleging supervisory role and receipt/handling of proceeds; defence disputed incriminating material, reliance on statements, selective arrests and urged parity and repeated prior incarcerations. The court held evidentiary weight requires trial testing and noted parity with other released accused.
February 28, 2026
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Bail parity principle applied where investigational delay and statement based evidence affect custodial necessity in money laundering cases.
High Court review of bail in concurrent EOW criminal and ED money laundering investigations centred on investigational stage, evidentiary weight of digital material and co accused statements, and parity with released principal accused. The court noted protracted investigation timelines, contested allegations about supervisory involvement and receipt of alleged proceeds, and held that inferential and statement based evidence must be evaluated at trial, making the stage of probe and likelihood of prolonged proceedings relevant to custodial decisions.
February 28, 2026
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AI policy implementation: ensure agricultural AI delivers to farmers via infrastructure, governance and data protection.
Maharashtra's agricultural AI policy promises institutional development, digital public infrastructure, financial support and capacity building, but implementation is lagging: allocated funds remain unspent, innovation centres and leadership appointments are pending, and summit activities have not translated into grassroots adoption. Addressing the rural digital divide, establishing data protection safeguards, auditing the crop insurance scheme, stabilising price support and export policy, and creating a concrete roadmap with oversight are identified as necessary to ensure AI tools benefit ordinary farmers.
February 28, 2026
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Oil supply disruption could trigger sharp global price swings as Middle East strikes raise market uncertainty and transit risks.
Oil supply uncertainty from recent strikes threatens significant market volatility: a contained campaign may cause a short-lived price spike if shipping and infrastructure remain intact, while broader disruption of pipelines, terminals or tanker traffic through the Strait of Hormuz would force buyers-particularly China-to seek alternative supplies, amplifying sustained upward pressure on global oil prices.
February 28, 2026
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Supply chain disruption threatens longer routes and higher shipping and insurance costs for exporters in western markets.
Exporters expect logistical and insurance-cost disruptions from Middle East hostilities: altered air routes and uncertainty through the Red Sea and Gulf straits may force rerouting via the Cape of Good Hope, adding substantial transit time. Heightened geopolitical risk is likely to raise marine insurance premiums and container freight rates, increasing shipping costs; prolonged instability could also push up global energy-related input costs and exert currency pressure, prompting exporters to seek calibrated government support to sustain competitiveness.
February 28, 2026
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Investment fraud: man arrested for allegedly inducing funds via a false export venture and issuing dishonoured cheques.
The accused is alleged to have induced investment by falsely portraying a large meat export venture, obtained funds through bank transfers and arranged foreign payments via associates, and issued cheques despite insufficient funds; he absconded after committing the offence, was later arrested, and investigations aim to trace co accused and recover the cheated amount.
February 28, 2026
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Organic export compliance reinforced to boost traceability and market access following Sikkim supply chain and export readiness roadmap.
APEDA organised an Organic Conclave in Sikkim and released a Knowledge Report proposing a roadmap of infrastructure upgrades, streamlined processes, aggregation, price discovery and strategic positioning to improve export competitiveness while ensuring sustainability and traceability. The event included international buyer engagement and a technical session on the 8th Edition of the NPOP to raise compliance awareness among exporters, FPOs and certification bodies, and featured field visits to certified production clusters to strengthen farm to market linkages and buyer confidence in export readiness.
February 28, 2026
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Critical mineral security: Andhra Pradesh opens coastline to build a domestic rare earth and titanium value chain.
Andhra Pradesh seeks to open its coastline to large-scale beach sand mining to build an integrated domestic value chain for titanium minerals and rare earths. APMDC has identified and secured approvals for multiple ilmenite, rutile, zircon and monazite deposits and plans extraction, separation, refining and downstream manufacturing near ports and industrial corridors to reduce import dependence and supply-chain vulnerability.
February 28, 2026
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Government bank oversight reforms: standardized manual and real time dashboard to strengthen compliance and accountability.
Launch of a regulatory framework comprising the Government Bank Manual and Government Bank Dashboard to standardize bank handling of government transactions. The Manual prescribes operational procedures, reporting obligations, reconciliation timelines, and compliance requirements to reduce risk and strengthen accountability. The Dashboard provides real time monitoring of remittance timelines, scroll compliance, reconciliation status, transaction success rates, and service level adherence, enabling proactive oversight and performance management while supporting further digital integration and cybersecurity enhancements.
February 28, 2026
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Wrongful availment of input tax credit exposed; GST practitioner arrested and probe launched under CGST provisions.
A tax enforcement operation exposed an organised network issuing fake invoices and e way bills to wrongfully avail input tax credit through numerous GST registrations and shell entities. A registered GST practitioner was identified as the coordinator, arrested under provisions of the CGST Act, and remanded; investigators are tracing beneficiaries and quantifying the fraudulent input tax credit claims.
February 27, 2026
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Model mediation procedures enable mutually agreed mediation with a mediator and a time bound effort to reach a solution.
An annexure on model mediation procedures permits a Party to request mediation against a measure alleged to adversely affect trade, requires sufficiently detailed requests identifying the measure and effects, and makes mediation subject to mutual agreement. The annexure governs mediator selection, locations and modalities, provides that failure to agree on a mediator within the specified time results in rejection of the request, encourages a time bound endeavour to reach a mutually agreed solution after mediator appointment, and allows consideration of interim solutions.
February 27, 2026
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Tax revenue review urges accelerated compliance measures and AI-driven enforcement to strengthen state tax collection.
The Chief Minister reviewed tax and non-tax receipts, identified a shortfall versus annual tax targets, and directed departments to accelerate collection through transparency, efficiency and innovation. The meeting highlighted strengthened compliance measures-GST 2.0, AI-based risk analysis, extensive taxpayer scrutiny, e-invoicing and e-way bill monitoring-resulting in targeted investigations, control of fake input tax credit claims, and recovery actions; the Chief Minister also ordered enhanced excise vigilance during festivals.
February 27, 2026
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Political accountability: Opposition criticised for AI Summit protest, while government affirms focus on national development and institutional strengthening.
Prime Minister Narendra Modi criticised the opposition for a shirtless protest at an AI summit as evidence of its decline, emphasising that the government will continue its development agenda. He argued that an opposition's democratic role is to offer alternatives rather than reflexive opposition, cited millennials and Gen Z voter shifts as eroding the opposition's support, and linked recent trade deals to strengthened national institutions and reclaimed capability.
February 27, 2026
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Border management measures: intensified vigilance and financial scrutiny to prevent illegal migration and secure identity records.
Directives mandate intensified vigilance, inter-agency coordination and stricter financial scrutiny in India-Nepal border districts to counter illegal migration. Authorities will verify reported migrants and death cases, update or delete identity records upon confirmation, and conduct door-to-door verification while safeguarding genuine voters. A zero-tolerance stance on illegal construction and encroachments is paired with verification of business financing. District magistrates must ensure bank compliance with RBI reporting and PAN linkage, and sub-registrar offices face accountability for defective reporting of high-value property transactions.
February 27, 2026
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GST reform underscores tax policy's role in inclusive sustainable development and strengthening cooperative federalism and accountability.
Tax policy is described as the foundation for mobilising resources and promoting inclusive, sustainable development through an equitable tax framework. Goods and Services Tax is identified as a historic unifying reform that simplifies the indirect tax regime, strengthens cooperative federal relations, and aligns taxation with trust, accountability and welfare oriented objectives to promote production and shared prosperity.
February 27, 2026
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Creditor-driven decision-making upheld: courts must limit review to statutory confines to preserve insolvency speed and finality.
The IBC privileges creditor-driven decision-making, speed and certainty by confining judicial review to narrow statutory compliance, thereby protecting commercial choices of the Committee of Creditors as matters of commercial wisdom. Expansive judicial scrutiny is value-destructive-lengthening timelines, raising transaction costs, encouraging strategic litigation and undermining predictability and finality-so respect for statutory limits preserves timely reorganisation of viable firms and swift exit of non-viable businesses.
February 27, 2026
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Rupee depreciation driven by foreign outflows and rising oil prices puts pressure on currency and equity markets.
Rupee declined against the US dollar due to large foreign fund outflows, higher global crude oil prices and weakening domestic equity markets; foreign institutional investors sold heavily and forex reserves fell in the reporting week, even as a GDP calculation revision raised the growth estimate, highlighting resilience amid external pressures.
February 27, 2026
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Fugitive economic offender arrested abroad; extradition sought under Fugitive Economic Offenders Act and PMLA measures.
A fugitive alleged to have run an extensive investment fraud was arrested in Dubai after an Interpol Red Notice; the Enforcement Directorate submitted an extradition request and dossier through the Ministry of External Affairs citing a prior declaration under the Fugitive Economic Offenders Act and ongoing PMLA investigations. ED actions include filing two chargesheets, arresting associates, attaching assets, and securing court-ordered confiscation, while coordinating with UAE authorities to effect provisional arrest and repatriation for prosecution.

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Oppn moves to oust Birla as LS speaker; he steps away from House duties

February 10, 2026

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New Delhi, Feb 10 (PTI) Opposition parties on Tuesday put in motion the process to oust Om Birla as Lok Sabha speaker, alleging that he had acted in a "blatantly partisan" manner in the House and prompting him to step aside from chairing the proceedings till the matter is settled.

Congress' deputy leader in the Lok Sabha Gaurav Gogoi, chief whip K Suresh and whip Mohamed Jawed submitted the notice under Article 94C of the Constitution to Lok Sabha Secretary General Utpal Kumar Singh on behalf of several opposition parties, including the Congress, Samajwadi Party and the DMK.

The opposition also accused the speaker of making certain false claims against the Congress members when he spoke of some "unexpected action" in the Lok Sabha and asked Prime Minister Narendra Modi not to come to the House to reply to the debate in the Motion of Thanks on the President's Address.

Lok Sabha secretariat officials said Birla, upholding the highest standards of morality, has decided not to sit in the Speaker's chair until the no-confidence motion moved against him is settled.

The officials said the no-confidence motion against the speaker was likely to be taken up on March 9, when the House reassembles after the recess to examine budgetary proposals.

Article 94C of the Constitution deals with provisions for the removal of the speaker or the deputy speaker of the Lok Sabha.

Article 96 of the Constitution gives the speaker an opportunity to defend himself or herself in the House.

The speaker can cast his vote when the motion for his removal is moved in the House. But he cannot cast his vote in case of a tie.

The Lok Sabha functioned smoothly on Tuesday after a week full of repeated disruptions. The House took up the discussion on the General Budget, with the proceedings being conducted by the panel of chairpersons.

Opposition leaders said the notice to move the no-confidence motion was signed by at least 118 MPs, including those of the Congress, DMK, Samajwadi Party, Left parties and the RJD. Shiv Sena-UBT and NCP-SP have also extended their support to the notice against the speaker but their MPs could not sign it.

West Bengal Chief Minister Mamata Banerjee-led Trinamool Congress (TMC) is not a signatory to the notice. Leader of Opposition in Lok Sabha Rahul Gandhi has also not signed the notice, sources said.

The notice was submitted soon after 1 pm, after the opposition members held a last meeting with Parliamentary Affairs Minister Kiren Rijiju but their issues remained unresolved.

"We, the undersigned, hereby give notice of a resolution for the removal of Shri Om Birla from the office of Speaker Lok Sabha, in terms of the provisions of Article 94(c) of the Constitution of India, because of the blatantly partisan manner in which he has been conducting the business of the Lok Sabha," the notice said.

The BJP slammed the opposition for submitting a notice to remove Birla from office.

BJP national spokesman Sambit Patra said the time has come for India to "impeach" Rahul Gandhi and the Congress from politics.

"Those who have been impeached of their consciousness are the ones who want to impeach all the constitutional posts of India," Patra told reporters when asked about the opposition's move.

Article 96 of the Constitution bars a speaker or a deputy speaker from presiding over the House sitting while a resolution for his removal from office is under consideration.

Three Lok Sabha speakers – G V Mavlankar (1954), Hukam Singh (1966) and Balram Jakhar (1987) – had faced no-confidence motions in the past, which were rejected.

On several occasions, leaders of opposition parties have just not been allowed to speak, which is their basic democratic right in Parliament, the notice said.

The notice said that on February 2, Rahul Gandhi was not allowed to complete his speech on the Motion of Thanks to the President's Address. This is not an isolated instance. The leader of the opposition in the Lok Sabha is almost invariably not allowed to speak, it claimed.

On February 3, eight opposition MPs were "arbitrarily suspended" for the entire Budget session and are being penalised merely for exercising their democratic rights, the notice said.

On February 4, a BJP MP was permitted to make "wholly objectionable and personalised attacks" on two former prime ministers without being reprimanded even once for disregarding established conventions and norms of propriety, it said, in an apparent reference to Nishikant Dubey's remarks.

"In spite of our request, no action has been taken against this particular MP, who is a habitual offender," they said.

The notice also referred to Birla's remarks that he had "concrete information" that many Congress members might move towards Prime Minister Modi's seat and carry out "some unexpected act" as a result of which he had requested him not to come to the House to reply to the discussion on the Motion of Thanks on the President's Address.

The BJP also released a video of the happenings inside the Lok Sabha on February 4, when women MPs of the Congress had surrounded the prime minister's seat, raising slogans and carrying banners on the issue of former Army chief M M Naravane's unpublished book. PTI ASK SKC ACB NAB SKU SKU KSS KSS

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