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February 25, 2026
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PMLA attachment of a residential asset restricts transfer during investigation, pending adjudicating authority confirmation and possible confiscation.
A provisional attachment under the Prevention of Money Laundering Act has been issued against the Reliance Group residential property 'Abode' to prevent its transfer during an investigation into alleged bank loan fraud linked to Reliance Communications; the agency alleges the property was aggregated into a private family trust to disguise involvement and shield assets from liabilities arising from personal guarantees, and the attachment remains subject to confirmation by the PMLA Adjudicating Authority within 180 days, after which confiscation and vacation orders may follow.
February 25, 2026
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Revenue Intelligence and Economic Offences Directorate expands remit to investigate economic crimes and tax evasion.
The government replaces the State Revenue Intelligence Directorate with a Revenue Intelligence and Economic Offences Directorate empowered to investigate real estate fraud, banking and insurance financial crimes, NBFC and securities offences, multi-level marketing scams, fake insolvency cases, fraudulent recruitment and admission documents, illegal encroachments, stamp and registration irregularities, shell companies and cooperative scams, and to integrate inputs from tax and other revenue departments to check revenue leakages and curb tax evasion.
February 25, 2026
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Asset attachment under PMLA targets luxury property amid alleged bank fraud; further questioning scheduled by investigators.
A provisional order under the Prevention of Money Laundering Act attaches the Mumbai residence 'Abode', a multi storeyed luxury house valued at Rs 3,716.83 crore, in a probe connected to an alleged bank fraud by Reliance Communications; the cumulative attached value in the investigation is about Rs 15,700 crore.
February 25, 2026
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Judicial integrity concerns prompt objection to textbook chapter, with related Supreme Court guidance on public discourse and a trial stay.
The Chief Justice objected to an NCERT Class 8 chapter on judicial corruption, leading to its removal and highlighting protection of judicial integrity. The Supreme Court emphasised that high constitutional office holders must not target communities and stayed trial proceedings by the Enforcement Directorate against a state chief minister. Separately, the US initiated a preliminary countervailing duty on certain Indian solar imports and the UK introduced mandatory electronic travel authorisations and eVisas, reflecting trade remedy and migration procedural changes.
February 25, 2026
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Two-child disqualification removed for local body elections, while discriminatory disease-based bar deleted and a new economic offences directorate established.
The cabinet introduced amendment bills to remove the statutory bar on persons with more than two children contesting local body elections and approved deleting "leprosy" as a disqualifying disease in municipal election law, while replacing the State Revenue Intelligence Directorate with a Revenue Intelligence and Economic Offences Directorate to investigate and prevent financial crimes, real estate fraud, shell companies, forged documents, illegal encroachments and revenue leakages, and coordinating inputs from tax and sectoral departments.
February 25, 2026
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Countervailing duty on Indian solar imports shocks markets; solar stocks plunge while benchmarks remain volatile.
A US preliminary countervailing duty of about 126 percent was imposed on certain Indian solar imports following allegations of unfair manufacturing subsidies; the announcement triggered a sharp sell-off in solar-sector equities and contributed to volatile trading in broader benchmarks, with analysts and flow data citing trade uncertainty, net foreign outflows, and cautious investor positioning as proximate market drivers.
February 25, 2026
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Indo-US trade deal risks farmers as unilateral US tariff actions leave exports vulnerable; India urged to suspend the agreement.
The Indo-US interim trade deal is criticised as one-sided because US imposition of a high duty on Indian solar module imports shows Indian exports are subject to unilateral executive tariff measures, leaving exporters vulnerable; opposition leaders urge India to put the agreement on hold to protect farmers and reassess safeguards for exporters in light of a judicial finding that such presidential tariffs exceeded lawful authority.
February 25, 2026
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Integrated multimodal infrastructure: four projects evaluated to strengthen connectivity, capacity and last mile linkages under national planning.
The Network Planning Group evaluated four projects for conformity with PM GatiShakti principles of integrated multimodal infrastructure, last mile connectivity and a Whole of Government approach. Two third line railway projects (Jalandhar Cantt-Jammu Tawi and Manikpur-Itarsi) aim to augment rail capacity, resilience and operational throughput on strategic corridors. A Greenfield airport at Doloo, Silchar is proposed to relieve airport capacity constraints and stimulate regional socio economic growth. A Surat Metro extension is proposed as a dedicated feeder link to the Mumbai-Ahmedabad HSR corridor to enable seamless last mile and modal integration.
February 25, 2026
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Smartphone exports become top export category as manufacturing scale and premium device production boost overseas shipments.
Smartphone exports have become the country's leading export category, propelled by expanded domestic production and the manufacture of premium devices for high-value overseas markets. The growth in export value is linked to large-scale, export-oriented manufacturing and is expected to be reinforced by the commencement of new semiconductor production capacity, with market observers noting premium-brand assembly and diversified export destinations as key drivers.
February 25, 2026
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Payment assurance: Bank honoured government principal and interest despite an ongoing fraud investigation and reconciliation caveats.
A branch-level fraud involving forged instruments and payment instructions affecting Government of Haryana departments is under investigation, with preliminary findings indicating possible employee collusion with external parties. Despite the ongoing probe, IDFC FIRST Bank has honored 100% of the principal and interest claimed by the affected departments, subject to final reconciliation and any further claims, and states it is cooperating with law enforcement and regulators under the FEMA / RBI framework.
February 25, 2026
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Fair trade: Germany seeks balanced, regulated economic partnership with China and support for diplomatic resolution in Ukraine.
Germany seeks a fair economic playing field with China by demanding reduced barriers to foreign companies, remedies for systemic overcapacity and export or access restrictions that distort competition, and cooperation to uphold supply-chain stability. The visit also urges Chinese diplomatic assistance to help negotiate a comprehensive, lasting peace in the Russia-Ukraine conflict, linking trade concerns to multilateral crisis resolution.
February 25, 2026
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Countervailing duties on Indian solar imports after preliminary subsidy finding; investigations and anti dumping probes continue.
The United States Department of Commerce issued preliminary affirmative determinations imposing a preliminary countervailing duty on certain Indian crystalline silicon photovoltaic cells and related solar goods, while announcing different preliminary duties on comparable imports from Indonesia and Laos. Commerce noted increased imports of the Indian products, is conducting concurrent anti dumping investigations of solar cells from the three countries, and has scheduled a final determination in the countervailing duty investigations to follow the preliminary findings.
February 25, 2026
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Free trade agreement negotiations between India and GCC launched to deepen trade ties, provide business predictability and boost investment.
A Joint Statement and prior Terms of Reference have initiated negotiations for a comprehensive Free Trade Agreement between India and the GCC to establish a predictable, broad-based trading framework. The Statement emphasises objectives of expanding and diversifying bilateral trade and investment, enhancing market access in identified export and import sectors, and leveraging historical ties and diaspora links. It frames the FTA negotiations as a mechanism to unlock trade potential, strengthen economic integration, and provide predictability for businesses, with specific tariff and regulatory commitments to be determined through negotiations.
February 25, 2026
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Free Trade Agreement negotiations aim to deepen trade and regulatory cooperation between India and Israel.
First round negotiations for an India Israel Free Trade Agreement began under a signed Terms of Reference, with technical sessions on trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures and trade facilitation, and intellectual property rights, aiming to provide certainty to businesses, strengthen supply chains and expand bilateral economic cooperation.
February 25, 2026
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Preferential trade access expands through high quality FTAs, enabling broader market access and stronger export competitiveness.
India has expanded preferential trade access through a series of high quality free trade agreements, advancing negotiations with multiple partners including a Gulf Cooperation Council bloc, Israel, Chile and Canada. The government connects FTAs to export growth-citing increased merchandise trade with partners-and is supporting MSME integration via an Export Promotion Mission that improves credit access, reduces costs and assists with compliance. A four point roadmap directs grassroots FTA dissemination, a focus on quality and standards, value chain upgrading, and development of local export ecosystems through industry-MSME partnerships.
February 24, 2026
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Wheat export permission allows limited shipments while preserving domestic food security and protecting farmer returns through set modalities.
The government authorised limited wheat exports while maintaining a general prohibition, subject to a capped export allocation and forthcoming operational modalities. Wheat flour and related products remain largely prohibited except for a separate limited allowance and government to government food security permissions. The policy is justified by assessed higher private and central stocks, projected central pool availability and increased acreage supported by MSP and procurement, with aims to stabilise domestic prices, prevent distress sales, improve liquidity and allow exports without endangering domestic supply.
February 24, 2026
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Product contamination probe: forensic and food safety testing underway after suspected coolant leak linked to renal harm.
No urea traces were detected in milk linked to deaths and hospitalisations; ethylene glycol contamination and a suspected coolant leak from a freezer are under investigation. Recognised food safety, veterinary and forensic laboratories have received milk, product and environmental samples for phased testing; results will determine whether adulteration or accidental contamination occurred. The implicated dairy unit was sealed, the vendor detained, extensive household screening and blood testing conducted, and law enforcement indicated criminal proceedings will follow based on forensic and post mortem findings.
February 24, 2026
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Free Trade Agreement negotiations to advance India-GCC cooperation in energy, trade and investment and strategic ties.
India and the Gulf Cooperation Council have initiated negotiations for a Free Trade Agreement alongside a Joint Action Plan under a Strategic Dialogue to deepen cooperation in energy, trade and investment, agriculture, security, and people to people ties, positioning the FTA as the central instrument to structure and expand economic relations between India and the six member GCC bloc.
February 24, 2026
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RTI disclosure: numerical figures for sports arms imports must be released following a wrongful commercial-confidentiality refusal under the Act.
A trade department withheld calibre-wise quantities of sports arms imports citing commercial-confidence exemption under the Right to Information, yet admitted possession of the numerical data and failed to justify the exemption's application to mere quantities; the commission required a revised, point-wise reply limited to numerical figures while preserving legitimately exempt material.
February 24, 2026
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Challenge to benami attachment must be brought before statutory Benami Act authorities, not insolvency or company-law forums.
Attachment orders under the Prohibition of Benami Property Transactions Act, 1988 can be challenged only before the statutory authorities and appellate mechanisms provided within that Act; insolvency and company-law fora lack jurisdiction to entertain such challenges and resorting to them to circumvent Benami Act procedures amounts to an abuse of process.

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First leg of Budget session witnessing uproar over India-US trade deal, Naravane's book ends

February 13, 2026

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New Delhi, Feb 13 (PTI) The stormy first leg of the Budget session of Parliament that saw heated exchanges between the opposition and the treasury benches over the India-US interim trade deal and unpublished memoir of former Army chief M M Naravane concluded on Friday.

The Lok Sabha and the Rajya Sabha will both reassemble on March 9 and the session will conclude on April 2.

The first part of the session also saw the opposition give a notice to remove Speaker Om Birla from his chair after expressing no-confidence in him and accusing him of abusing his position.

This is the fourth such notice to remove the speaker so far, with the earlier ones either being defeated or not being taken up due to lack of numbers. The notice would now be taken up during the second part of the session.

Meanwhile, the speaker also said that he will not occupy the chair on moral grounds until the notice for his removal is disposed of.

The three-week recess period will allow the standing committees of Parliament to examine allocations made in the Union Budget to various central ministries.

While the Lok Sabha saw lower productivity, that of the Rajya Sabha was nearly 100 per cent, as members participated in the discussion on both the Motion of Thanks to the President's Address and the Union Budget.

The Lok Sabha witnessed acrimonious exchanges from both sides after Leader of Opposition Rahul Gandhi was not allowed to quote excerpts from Narawane's unpublished memoir. Its fallout was that the prime minister could not reply to the discussion on the Motion of Thanks.

The Lok Sabha witnessed dramatic scenes and repeated adjournments from February 2 afternoon after the chair disallowed Gandhi to quote excerpts from Naravane's unpublished memoir relating to the India-China conflict of 2020.

This led to the suspension of eight MPs, including seven of the Congress and one of the CPI(M), for the remainder of the Budget session for unruly behaviour.

The opposition finally moved a notice to move a resolution against Birla for removing him from his chair.

An anguished Birla said he had "concrete information" that many Congress members might move towards the PM'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.

In an unprecedented development, the Lok Sabha passed the Motion of Thanks on February 5 without the prime minister's customary reply in the face of relentless sloganeering by opposition members.

In the Rajya Sabha, Prime Minister Modi, in his nearly 100-minute reply to the debate on the Motion of Thanks on February 5, took on the opposition and accused them of insulting not just a tribal woman President Droupadi Murmu but also the high office of the President of India as well as the Constitution. He said the opposition has no right to talk about the Constitution anymore.

He also launched a scathing attack on the Congress saying the opposition party is unable to digest its successive electoral defeats and his rise, and asserted that it will never be able to "dig his grave" as the blessings of crores of Indians are his "protective shield". He also accused the Congress' "first family" of "stealing" Mahatma Gandhi's surname, alleging that stealing was their ancestral profession.

The Motion of Thanks was adopted by the Rajya Sabha by a voice vote in the absence of opposition members, who staged a walkout.

Later, the discussion on the Union Budget took place and Finance Minister Nirmala Sitharaman replied to the discussion in both Houses.

Participating in the debate in the Lok Sabha, Rahul Gandhi accused the government of failing to protect India's interests while signing an interim trade agreement with the United States, a charge that Sitharaman countered, saying it was the Congress government that sold the country at the World Trade Organisation (WTO).

A Bill to amend the Industrial Relations Code aiming to bring legal clarity was passed by Parliament in the first part of the session.

In the Rajya Sabha, Sitharaman asserted that India is on a robust growth trajectory with low unemployment, dismissing concerns of "jobless growth" as a relic of the UPA era. She said the middle class is expanding, not being suppressed, and emphasised that higher taxes paid by individuals compared to corporates do not mean they are being burdened.

According to PRS Legislative, while the productivity of the Lok Sabha was only 43 per cent, that of the Rajya Sabha was 97 per cent. It also said that the Lok Sabha functioned for 26.6 hours while the Rajya Sabha functioned for 58.2 hours.

On Friday, Rajya Sabha proceedings were also adjourned at 1 pm after Zero Hour and Question Hour.

On Friday, Leader of Opposition in Rajya Sabha Mallikarjun Kharge raised the issue of large portions of his speech during the debate on Motion of Thanks being expunged and demanded that they be restored. He urged the chair to reconsider his decision, saying otherwise, he will release them to the public.

Chairman C P Radhakrishnan, however, said Kharge cannot question the chair, and what he was saying was not correct as whatever has been expunged from the records cannot be released outside.

The Lok Sabha saw adjournments before the House was adjourned till March 9. Earlier, the House was adjourned for one hour after opposition members raised slogans demanding the resignation of Union minister Hardeep Puri. The opposition members were also protesting against the India-US interim trade agreement. PTI SKC GJS NAB SKC KSS KSS

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