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    Oil prices rise sharply in market trading after attacks in Middle East disrupt global energy supply
    OPEC+ boosts oil production after attacks on Iran and throughout region
    Iran crisis: No immediate oil disruption for India; price volatility, macro impact seen
    HIGHLIGHTS
    Haryana records 22 pc growth in gross SGST collection in FY 2025-26, beats all states, UTs
    Andhra records highest GST collection in February at Rs 3,061 cr
    Rice exporters cautioned against CIF contracts to Iran, Gulf countries amid West Asia conflict
    GST collection grows 8.1 pc to over Rs 1.83 lakh cr in Feb
    Iran crisis: Rice exporters stare at shipment disruptions, payment delays
    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
    HC grants bail to ex-CMO official in 2 cases of Chhattisgarh liquor 'scam'
    Chhattisgarh liquor 'scam': HC grants bail to former CMO official Chaurasia in ED, EOW cases
    Maharashtra AI policy for agriculture laudable but implementation weak, says NCP (SP) leader
    Oil prices set for swings next week as US-Israel strikes raise supply uncertainty
    Middle East conflict: Exporters fear rise in logistics, insurance costs, impact on shipments
    Delhi Police arrests man for Rs 1.37 crore investment fraud in meat export business
    APEDA Organises Sikkim Organic Conclave-cum-International Buyer Seller Meet in Gangtok
    Andhra to open coastline for rare earth mining, eyes China import cut
    CGA launches Government Bank Dashboard and Government Bank Manual to Strengthen Compliance, Reduce Risk, and Enhance Accountability in handling govern...
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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.
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
Show AI Summary
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.

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UP presents record Rs 9.12 lakh cr budget for 2026-27 ahead of assembly polls next year

February 11, 2026

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Lucknow, Feb 11 (PTI) The Uttar Pradesh government on Wednesday presented a record Budget of Rs 9.12 lakh crore for the financial year 2026-27, the largest in the state's history, with a focus on employment, infrastructure development and healthcare.

The Budget, tabled by Finance Minister Suresh Kumar Khanna in the state Assembly is being seen as the last full Budget ahead of the Assembly elections scheduled early next year.

Khanna said the outlay of Rs 9,12,696.35 crore is about 12.2 per cent higher than that of the previous financial year, making it the "biggest Budget ever" presented in the state.

He said Chief Minister Yogi Adityanath has been working for the development of every section and every region of the state.

The minister said capital expenditure accounts for 19.5 per cent of the total Budget. In line with the recommendations of the 16th Central Finance Commission, accepted by the Centre, the fiscal deficit limit for 2026-27 has been fixed at three per cent, which will remain applicable till 2030-31.

He asserted that the state government remains fully committed to prudent financial management and debt control.

The allocations for education and health stood at 12.4 per cent and six per cent of the total Budget, respectively. Agriculture and allied services have been allocated nine per cent of the total outlay.

Stressing that strengthening law and order remains a top priority, Khanna said Rs 1,374 crore has been proposed for the construction of non-residential police buildings and Rs 1,243 crore for residential buildings.

For medical education, an allocation of Rs 14,997 crore has been proposed. At present, the state has 81 medical colleges, of which 45 are run by the state government and 36 by the private sector. An amount of Rs 1,023 crore has been proposed for the establishment of 14 new medical colleges.

Additionally, Rs 315 crore has been earmarked for the Cancer Institute in Lucknow and Rs 130 crore for providing free treatment for incurable diseases.

Khanna said Rs 37,956 crore has been proposed for medical, health and family welfare, which is 15 per cent higher than the previous year. About Rs 8,641 crore has been allocated for the National Rural Health Mission, Rs 2,000 crore for the Ayushman Bharat National Health Protection Scheme, and around Rs 2,867 crore for AYUSH services.

For infrastructure and industrial development, Rs 27,103 crore has been proposed, 13 per cent higher than 2025-26. A provision of Rs 5,000 crore has been made for the Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme.

Under the Swami Vivekananda Yuva Sashaktikaran Yojana, distribution of tablets and smartphones is underway, for which Rs 2,374 crore has been proposed. An allocation of Rs 2,000 crore has been made under the Atal Infrastructure Mission for infrastructure development.

The government has also provided Rs 1,000 crore for the implementation of the Incentive Policy 2023 aimed at attracting foreign direct investment and investments from Fortune 500 companies.

On the Defence Industrial Corridor project, the minister said MoUs have so far been signed for setting up 200 defence industries, entailing a proposed investment of Rs 35,280 crore and generating an estimated 53,263 direct jobs.

For micro, small and medium enterprises (MSMEs), Rs 3,822 crore has been provided, 19 per cent higher than the previous year. A new Sardar Vallabhbhai Patel Employment and Industrial Zone scheme has been proposed with an outlay of Rs 575 crore. An allocation of Rs 75 crore has been proposed for a new 'One District, One Dish' scheme.

For the handloom and textile sector, about Rs 541 crore has been proposed — more than five times the previous year's allocation. The government has set a target of generating 30,000 jobs in the textile sector in 2026-27.

A new scheme has been proposed for the modernisation of the blanket production centre in Gorakhpur with a provision of Rs 7.5 crore.

Khanna said Rs 2,059 crore has been allocated for IT and electronics schemes, 76 per cent higher than the previous year. The state will launch the Uttar Pradesh AI Mission for development in the field of artificial intelligence, for which Rs 225 crore has been proposed.

Khanna, during his speech, emphasised that capital investment and infrastructure development play a vital role in strengthening the economy and said providing employment opportunities to the state's youth and equipping them with the necessary skills is equally important.

He noted that individuals possessing technical skills or proficiency in any trade are unlikely to remain unemployed. To this end, large-scale employment-oriented training and skill enhancement programmes will be run in mission mode on a priority basis. Alongside formal education, arrangements will be made to strengthen the skill base of the youth.

The capacity of existing skill development training centres will be enhanced, and new centres will be set up across the state. Private sector participation will also be ensured in this campaign.

Skill development and job placement centres will be established in various districts under the public-private partnership (PPP) mode, he said. Separate centres will be set up for women to increase their participation in the workforce, the minister added. PTI KIS MAN DRR

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