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    Govt discusses potential impact of West Asia crisis on trade; ensures all facilitation
    Rupee crashes 42 paise to settle at 91.50 against US dollar
    J&K to import 4 elite foreign breeds of sheep, goat
    Oil prices soar and stock prices fall as US-Israel war with Iran rattles markets
    India's manufacturing sector activity growth jumps to 4-month high in Feb: PMI
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March 2, 2026
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Trade facilitation measures to mitigate West Asia crisis impact on exports, including customs coordination and logistical support.
The consultation assessed risks to EXIM cargo flows from West Asian hostilities and committed a facilitative, coordinated response focused on preserving trade continuity. Agreed measures include real-time monitoring of routing, capacity, surcharges and equipment availability; strengthened port/ICD facilitation to avoid congestion; targeted support for time-sensitive exports such as perishables and pharmaceuticals; procedural flexibility for export authorisations in genuine disruption; Customs coordination for smooth clearance; and engagement with financial and insurance institutions to protect exporter interests, with emphasis on MSMEs and essential imports.
March 2, 2026
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Exchange rate pressure intensified as geopolitical conflict, crude price spikes and capital outflows pushed the currency lower despite central bank support.
Severe exchange rate pressure drove the rupee sharply lower amid geopolitical conflict, FII outflows and rising crude prices, increasing India's import bill vulnerability; the Reserve Bank of India's visible market presence capped deeper intraday depreciation while analysts warned that geopolitical developments, crude trends, capital flows and key US data will determine near term exchange rate direction.
March 2, 2026
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Genetic upgrade initiative boosts local mutton and wool production via import of elite sheep and goat breeds.
Importation of Romanov and Finn sheep and Boer and Swiss Alpine goats aims to implement a genetic upgrade of Jammu and Kashmir's small ruminant population to improve growth rates, carcass yield, reproductive efficiency and overall flock productivity. Imported germplasm will be multiplied at government breeding farms and progeny distributed to farmers in phases, with farmer-level distribution starting in the third quarter of 2026-27, as part of Project 24 under the Holistic Agriculture Development Programme alongside complementary livestock and rural productivity measures.
March 2, 2026
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Oil supply disruption risk drives markets as geopolitical attacks push energy prices up and equities downward.
Attacks on Iran caused equity declines and sharp rises in oil and gold as traders priced in disruption to energy flows through the Strait of Hormuz; sustained interruptions to Iranian exports and regional shipping could tighten global supply, elevate fuel and production costs, affect major importers' sourcing strategies, and influence inflation dynamics and central bank rate decisions.
March 2, 2026
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Manufacturing activity growth driven by stronger domestic demand despite slower export orders, prompting higher input buying and hiring.
Manufacturing activity accelerated to a four-month high as stronger domestic demand supported faster output growth and higher new business intakes; firms increased input purchasing, inventories and hiring. New export orders continued to slow, somewhat constraining employment creation. Cost pressures remained moderate, and forward-looking sentiment was positive with many manufacturers expecting higher output over the year ahead.
March 2, 2026
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Compliance with IS-17900 drives local manufacturing of advanced lift control systems, reducing import dependence and strengthening supply chains.
A Phase 1 manufacturing facility invests in local production of advanced lift electronic control systems designed to comply with IS-17900, reduce import dependency, and enable component to finished product localisation. The plant will operate automated PCB and semi automatic panel lines to produce MR, MRL and Slim Panels, emphasise controlled environment quality, IoT features, and support supply chain resilience and national industrial policy objectives under the Make in India framework.
March 2, 2026
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Reservation policy implementation strengthened across public financial institutions to improve accessibility and uniform compliance measures.
Strengthening institutional capacity for uniform implementation of the Government of India's reservation policy across public financial institutions and enhancing accessibility for Persons with Disabilities were the primary objectives. The programme combined a Sugamya Bharat sensitisation session on accessibility standards and compliance requirements, a roundtable on legal provisions and practical challenges, exchange of best practices, and an interactive question-and-answer session to identify operational measures for inclusivity, accessibility and reservation policy compliance.
March 2, 2026
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Deferred Customs Duty payment enables qualified manufacturers to clear imports and pay duties monthly, subject to compliance and eligibility.
A Deferred Customs Duty payment facility allows Eligible Manufacturer Importers to clear imports without immediate duty payment and to pay applicable customs duties monthly under the Deferred Payment of Import Duty Rules, 2016, subject to prescribed Customs and GST compliance, turnover, financial standing and track record; existing AEO T1 entities meeting eligibility may participate and applications are to be submitted via the AEO portal.
March 2, 2026
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Energy supply disruption risks trigger global market selloff and safe-haven flows, lifting oil and gold while bond yields fall.
Global markets moved to risk-off after US and Israeli attacks on Iran: equities opened lower while gold and government bonds rallied and oil prices surged on fears that strikes and incidents in the Strait of Hormuz could restrict oil and LNG exports, raising the prospect of higher energy and production costs; higher-than-expected wholesale inflation readings were identified as a factor that may affect the central bank's timing for interest-rate cuts.
March 2, 2026
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Rupee depreciation driven by crude price surge, dollar strength and foreign fund outflows pressures local currency lower.
Rupee depreciation in early trade reflected external pressures-higher crude prices, a stronger US dollar, and escalated Middle East tensions-compounded by negative domestic equity sentiment and significant foreign institutional outflows. Market indicators included a firmer dollar index, rising Brent crude futures, and a recent dip in forex reserves, while analysts warned of increased import bill risk due to India's reliance on fuel imports.
March 2, 2026
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Energy supply disruption threatens global oil flows, driving sharp price increases and straining fuel and goods markets worldwide.
Attacks and retaliatory strikes in the Middle East disrupted flows through the Strait of Hormuz and regional export infrastructure, triggering sharp crude price rises and heightened risk of sustained supply constraints; OPEC+ announced production increases, but analysts stress that constrained export routes limit the immediate effectiveness of added output.
March 2, 2026
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Maritime chokepoint security threatened, risking oil export disruptions and limiting the relief from increased production.
Attacks and military strikes in the Middle East disrupted maritime traffic through the Strait of Hormuz, risking restrictions on regional crude exports and driving upward pressure on oil and gasoline prices. Because the strait is a critical global oil chokepoint, market concerns focus on whether barrels can physically move; consequently, OPEC+ announcements of increased production may provide limited immediate relief if export routes remain constrained.
March 2, 2026
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Oil supply security: production increases meet limited relief when export routes through the Strait of Hormuz are disrupted.
OPEC+ announced an April increase in crude production intended to augment available supply while regional military attacks and disruptions to tanker movements - particularly through the Strait of Hormuz - threaten export routes. The notice underscores that interruptions to transit can limit the relief additional output provides and that access to export channels will be decisive for near-term market stability and price direction.
March 1, 2026
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Energy security measures cushion supply shocks but elevate price volatility and macroeconomic pressures for oil importers.
Escalating tensions around Iran and the Strait of Hormuz create near-term energy security risks for India manifested chiefly as price volatility and macroeconomic pressure rather than immediate physical shortages. Layered inventory buffers - commercial stocks, in transit cargoes and Strategic Petroleum Reserves - combined with diversified sourcing options (including Atlantic suppliers and Russian optionality) reduce the likelihood of sustained supply disruption, though longer transit times and LNG contractual rigidity limit rapid substitution and increase vulnerability to prolonged closures.
March 1, 2026
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GST revenue growth signals strengthened tax receipts driven by import collections and improved domestic sales affecting fiscal enforcement.
A court ordered continued judicial custody for eight alleged Lashkar-e-Taiba operatives accused of illegal entry and procuring forged identity documents while another court directed the immediate release of 14 student protesters arrested after a campus demonstration. Separately, gross Goods and Services Tax collections rose year-on-year, led by higher import receipts and improved domestic sales, reflecting stronger enforcement and compliance dynamics within the indirect tax regime.
March 1, 2026
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SGST growth reflects strengthened tax administration and compliance following GST rate rationalisation, bolstering state revenues.
Haryana reports marked year on year expansion in State Goods and Services Tax (SGST) receipts for 2025-26, attributing the improvement to strengthened tax administration, enhanced compliance stemming from departmental reforms and better tax analysis, facilitation via district GST Suvidha Kendras, and the GST Council's September 2025 rate rationalisation as complementary drivers of revenue growth.
March 1, 2026
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GST revenue growth maintained despite rate reductions; enhanced compliance and AI-driven analytics strengthened state collections effectively.
Andhra Pradesh achieves record net Goods and Services Tax receipts for February, with SGST and IGST growth offsetting marginal gross GST decline. Revenue momentum is supported by higher professional tax and petroleum VAT receipts. The state credits strengthened compliance-targeted audits, stricter return filing, coordinated IGST settlements, and performance based officer deployment-and advanced data analytics and AI oversight that detect evasion and reverse ineligible input tax credit claims for measurable recoveries.
March 1, 2026
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Shipping risk allocation: exporters urged to avoid CIF and prefer FOB as geopolitical risks raise freight and insurance exposure.
Advises exporters to avoid new Cost, Insurance and Freight (CIF) commitments to Iran and Gulf destinations and to conclude sales on Free-On-Board (FOB) terms where feasible so freight, insurance and related risks rest with the buyer. Notes that West Asia instability may sharply increase bunker prices, disrupt vessel availability, raise freight and insurance premiums, and produce price volatility; urges restraint, avoidance of open-ended unhedged positions, and monitoring of consignments in transit or awaiting clearance.
March 1, 2026
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GST rate restructuring boosts revenues as import and domestic consumption support post cut recovery in collections.
GST collections rose year on year following a statutory GST rate restructuring that reduced rates on numerous items and consolidated slabs; import revenue and domestic consumption supported recovery after an initial post cut dip. The pattern includes higher refunds, lower cess receipts, and divergent state level growth, raising considerations for revenue forecasting, state fiscal impacts, and the operational stability of the restructured indirect tax framework.
March 1, 2026
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Export disruptions to Iran risk shipment halts and payment delays for rice exporters amid regional conflict.
Shipments to Iran and consignments to Afghanistan via Bandar Abbas have been held up following military strikes, causing immediate shipment disruptions and likely payment delays until the security situation improves; exporters warn the impact depends on conflict duration and note heightened commercial risk from lack of war-risk insurance for vessels.

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Unlike Cong, BJP does not do votebank politics, says Haryana CM

February 10, 2026

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Chandigarh, Feb 10 (PTI) Haryana Chief Minister Nayab Singh Saini on Tuesday asserted that unlike the Congress, the BJP government does not do votebank politics.

He hit out at the opposition party over its "misleading" claims regarding the cancellation of the old-age pension of several beneficiaries.

Saini refuted the Congress' claims regarding the alleged cancellation of old-age pensions in the state, calling them baseless, misleading and politically motivated.

Saini was speaking to reporters here on Tuesday evening after digitally disbursing Rs 1,431 crore to over 56.34 lakh beneficiaries under 18 public welfare schemes.

Saini asserted that the double-engine government under Prime Minister Narendra Modi's leadership is committed to giving the benefits of old age pension to all the eligible beneficiaries. At the same time, it is being ensured that no ineligible person draws a pension, he said.

"Our government is working with full transparency and ensuring that the benefits of our schemes reach the common people and eligible beneficiaries," he said.

During the past few days, Saini said, the opposition has been trying to mislead the people and they have been claiming that the old-age pension of two lakh people has been discontinued.

Saini alleged that the Congress has opened a shop of lies.

"They wake up every morning and start spreading misinformation," the chief minister said, adding that the Haryana government is working continuously and without pause for public welfare.

He said unlike the Congress, the BJP never does votebank politics. "We are concerned with benefits reaching the beneficiaries, whereas they always did votebank politics and used the elderly as a votebank," he said, hitting out at the Congress.

Referring to the claim made by the Congress that the pensions of two lakh people had been cut, the chief minister said it was necessary to place facts before the people of Haryana.

He said that according to the rules, pension benefits are automatically discontinued after the death of a beneficiary.

Out of the two lakh cases cited by the opposition, more than 1.03 lakh cases pertain to beneficiaries who had already passed away.

He said that due to a technical issue on the Registrar General of India portal, data regarding deaths in Haryana was not available from October 2024. Once the data was received in November 2025, pensions in these cases had to be discontinued in one consolidated exercise, he said.

He further said that in nearly 37,000 cases, beneficiaries were found to be below 60 years of age. These individuals had manipulated their age in Aadhaar records to fraudulently obtain pension benefits. Their pensions have been discontinued and action has been initiated against those involved in tampering with government databases, he said.

However, he clarified that if any of these beneficiaries submit valid proof showing they are above 60 years of age, their pensions will be immediately restored.

The chief minister further shared that in 39,000 cases, income-based eligibility had not been verified by the local and sector-level committees.

He emphasised that these pensions too have not been cancelled but only temporarily discontinued and assured that once income certificates are submitted, verification will be completed promptly and pensions will be restored if eligibility is confirmed.

Saini said that he came to know that some opposition leaders are claiming that there was never any annual income slab for old age pension when they were in power and said the criteria was introduced when the Congress was in power.

He said between 1992 and 2012, the annual income limit for old age pension by both the Congress and the INLD governments was kept at Rs 10,000 with the aim to restrict a larger number of beneficiaries from becoming eligible.

Also, he said, there was a meagre increase in old age pension during the INLD and the Congress' time.

"Be it the Congress or the INLD governments, their thinking was that fewer beneficiaries should get the benefit of old age pension. That is why the income limit was maintained at Rs 10,000 from 1991 to 2012. The then Congress government increased the annual income limit to Rs 2 lakh in 2012 with 12.89 lakh beneficiaries coming under its ambit," he said.

He said with an eye on the Haryana polls in 2014, the then Congress government announced an increase in old-age pension from Rs 500 to Rs 1,000 per month.

Saini said that on April 5, 2023, the BJP government headed by Manohar Lal Khattar increased the annual income limit for old-age pension to Rs 3 lakh.

When this announcement was made, 17.98 lakh beneficiaries were covered. Now, this figure of old age pension beneficiaries is 20,31,367, he said.

"During the INLD government's time, old-age pension increased by just Rs 200 and by Rs 700 during the Bhupinder Hooda government's time. During the BJP government's time, the old-age pension being given at present is Rs 3,200 per month, an increase of Rs 2,200 during our time," Saini said. PTI SUN KSS KSS

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