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    New GDP series projects higher growth rate at 7.6 pc in FY26, 7.8 pc in Oct-Dec
    India's forex reserves drop USD 2.119 bn to USD 723.608 bn
    Monthly review of accounts of Government of India upto January 2026 (FY 2025-26)
    Indian NRIs Are Quietly Redirecting Wealth to Gift City — Moving Away From Singapore and Mauritius Structures
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February 27, 2026
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Base-year revision of GDP raises growth estimates and updates methodology using tax and administrative data.
The national accounts have been rebased to 2022-23 and revised by incorporating GST, PFMS and vehicular-registration data to refine GDP measurement. The methodology now uses double deflation for manufacturing and agriculture, more granular deflators elsewhere, and compiles household-sector levels from annual enterprise and labour-force surveys instead of inter-survey proxies, producing revised quarterly and annual real and nominal GDP estimates and altered growth profiles across recent periods.
February 27, 2026
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Foreign exchange reserves dip, driven by declines in currency assets, gold holdings, SDRs and IMF reserve position.
India's foreign exchange reserves fell by USD 2.119 billion for the week ended February 20, lowering total reserves to USD 723.608 billion. The decline was driven by decreases in foreign currency assets (down USD 1.039 billion to USD 572.564 billion), gold reserves (down USD 977 million to USD 127.489 billion), Special Drawing Rights (down USD 84 million to USD 18.84 billion), and the reserve position with the IMF (down USD 18 million to USD 4.716 billion).
February 27, 2026
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Fiscal receipts and expenditure review reports major tax receipts, state tax devolution and primary outlays through January.
Consolidated monthly accounts to January 2026 report Centre receipts at 79.5% of revised estimates-mainly Tax Revenue with Non Tax and Non Debt Capital Receipts-and an increased transfer to States as Devolution of Share of Taxes. Total expenditure is 74.3% of estimates, split between Revenue and Capital Expenditure, with Interest Payments and Major Subsidies forming the principal components of Revenue Expenditure.
February 27, 2026
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DTAA narrowing prompts NRIs to move from traditional offshore structures to IFSCA regulated Gift City USD fund structures.
Tightening of treaty shopping rules under foreign exchange regulation, expanded beneficial ownership disclosure and increased tax authority scrutiny have eroded the cost benefit of Singapore and Mauritius structures, prompting NRIs to consider IFSCA regulated Gift City USD denominated funds. Gift City offers open ended equity funds, Category II AIFs with multi year lock ins and Category III AIFs for active equity strategies; advisers emphasise modelling embedded gains, consulting tax advisors on DTAA applicability, and assessing currency risk, liquidity profiles and the distinction between MOIC and IRR before restructuring.
February 27, 2026
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Pre-trial detention under the PMLA risks indefinite incarceration unless predicate offences and proceeds are judicially established.
The PMLA should not be deployed to permit coercive arrest and prolonged pre-trial detention based on provisional allegations before the foundational facts of the predicate offence and the status of alleged proceeds of crime are judicially established; provisional attachment may be justified to preserve investigation, but arrest and onerous bail conditions must not operate mechanically absent a crystallised, judicially cognisable predicate offence, and statutory powers must be harmonised with constitutional safeguards protecting personal liberty.
February 27, 2026
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Tariff rebalancing: joint statement allows modification of commitments if tariff changes affect the bilateral trade pact.
The joint statement accompanying the interim bilateral trade agreement provides for tariff rebalancing, permitting either party to modify its commitments if the other changes agreed tariff measures, thereby preserving reciprocal balance. This mechanism functions as an operative safeguard to adjust negotiated tariff concessions in response to unilateral tariff actions while the parties finalise the legal text.
February 27, 2026
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Basic salary threshold changes require employers to restructure pay and update payroll systems under new laws.
New labour codes and the Income Tax Act 2025 require employers to reconfigure compensation structures so Basic Pay meets the prescribed threshold, increasing provident fund, social security, gratuity and leave liabilities; update payroll systems and TDS reporting to new rules and forms; effect prompt final wage settlement on separation via automated HRMS workflows; maintain fully digitized statutory records for real time inspections; and extend proportionate statutory benefits to fixed term employees, prompting reassessment of project and seasonal workforce liabilities.
February 26, 2026
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Free trade agreement strengthens market access and builds on earlier economic reforms enabling sustained growth potential.
Economic reforms liberalised foreign exchange, dismantled bureaucratic restrictions and opened the Indian market to foreign investors, stabilising public finances and enabling prolonged economic growth. The recently concluded free trade agreement with the European Union is presented as a further deepening of market integration that builds on those reforms and enhances bilateral market access.
February 26, 2026
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Executive tariff authority struck down; bilateral trade negotiations paused pending legal text to implement tariff reductions.
Presidential tariff authority was found invalid, prompting immediate temporary tariff adjustments and delaying bilateral trade negotiations because the interim framework reducing duties must be converted into a legally binding text before implementation. Chief negotiators' meetings were postponed pending clarity on tariff legality and future orders, and India indicated it will resume talks once tariff treatment is clarified.
February 26, 2026
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Money laundering probe prompts extended questioning and attachment of assets in alleged bank fraud matter.
Allegations of large scale bank fraud and resultant money laundering underpin the probe: extended questioning under the Prevention of Money Laundering Act concerns alleged diversion of funds through foreign subsidiaries and offshore entities tied to a group company. Investigative measures include constitution of a specialized investigation team, attachment of assets under anti money laundering provisions, searches, arrests of former executives, and parallel criminal case registrations alleging bank cheating in separate loan transactions.
February 26, 2026
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Simultaneous insolvency proceedings allowed against principal debtor and guarantor, enabling creditors to pursue parallel recovery routes.
There is no statutory bar under the Insolvency and Bankruptcy Code to initiating concurrent CIRP proceedings against a principal debtor and its corporate guarantor for the same debt; a creditor's right to realize a guarantee must not be frustrated by requiring sequential insolvency processes, the IBC does not exempt guarantors during pendency of another process, and adjudicating authorities must examine such applications independently, consistent with the principle that a surety's liability is co-extensive with the principal debtor.
February 26, 2026
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Prosecution sanction requirement in PMLA cases accelerates trial after agency files requisite approvals before the special court.
Enforcement Directorate placed competent prosecution sanction and an equivalent CrPC sanction order before the Special PMLA Court to remedy procedural defects identified by the Supreme Court and to expedite trial in two money laundering prosecutions arising from the Aircel Maxis and INX Media matters. The agency's action validates earlier ED chargesheets and aims to overcome delays caused by challenges to PMLA sanction requirements.
February 26, 2026
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Free Trade Agreement negotiations between India and Israel progress, covering goods, services, rules of origin, and digital trade.
Negotiations commenced under a signed Terms of Reference to establish a structured framework for an ambitious Free Trade Agreement between India and Israel, with the first round of talks addressing core chapters-trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers, customs procedures, intellectual property rights and digital trade-and agreeing continued virtual engagements and a further in person round in Israel.
February 26, 2026
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Recovery of real estate regulatory dues intensified, with stricter property-tracing and revenue recovery measures to enforce orders.
The government will intensify recovery of unpaid dues under the Real Estate Regulatory framework by directing district collectors to expedite recoveries, identify and attach defaulting developers' properties across districts, and trace assets using land records, stamp and registration data, property tax rolls, company registrations, vehicle registration records and, where necessary, tax authority assistance; recovery will be pursued through statutory revenue-recovery mechanisms and overseen via periodic reviews by senior administrators.
February 26, 2026
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Tribunal accountability undermined as technical members outsource judgments, prompting urgent tenure and vacancy reforms and oversight action.
Tribunal functioning and accountability are the central concerns: tribunals have become a "no-man's land" lacking accountability and producing questionable orders. Structural defects in the appointment and tenure regime allow technical members to assume chairpersonship and, in some instances, outsource drafting of judgments. The court directed the executive to expedite vacancy-filling mechanisms and granted interim tenure extensions for chairpersons while urging reforms to appointment, training, and accountability processes.
February 26, 2026
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Consumer financing enables AC purchases on Easy EMI, improving affordability but requires checking eligibility and costs.
Guidance advises matching AC capacity and inverter technology to room conditions to avoid high bills and uneven cooling, factoring installation and maintenance costs into total ownership, and prioritising warranty, spare parts, and after sales support. Easy EMI financing options with online eligibility checks, Insta EMI card facilitation, zero down payment offers, and variable promotional terms are available, but buyers must verify precise loan limits, service availability, and partner store conditions before purchase.
February 26, 2026
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Bank fraud allegations prompt fresh probe into diversion of loan funds and related money laundering inquiries.
A central investigative agency registered a fresh criminal case alleging that the promoter and his telecom group diverted and misutilised sanctioned loan funds, created fictitious related party transactions, manipulated accounts, and layered funds to conceal true flows, leading to the account's NPA classification; the bank's complaint and forensic findings allege systematic diversion through group entities and liquidation of investments to effect payments inconsistent with sanction terms.
February 26, 2026
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Unsecured personal loans: flexible repayment and competitive rates available, subject to credit score, income, and eligibility.
Bajaj Finance markets unsecured personal loans with competitive, credit based interest pricing, flexible repayment tenures chosen to manage EMI burden, minimal documentation, online application and expedited disbursal. Loan amounts cover a range of consumer needs and eligibility is determined by nationality, age limits, employment status and a minimum credit score, with rates and approval conditioned on income, employment type, credit profile and repayment capacity. The lender is a deposit taking institution registered with the Reserve Bank and classified as an NBFC D and NBFC ICC.
February 26, 2026
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Regulatory approval for stake acquisition with holding cap and time bound conditions, and prior approval required for increases.
RBI approved SBI Mutual Fund's acquisition of up to 9.99 per cent of Bandhan Bank's paid-up share capital or voting rights, subject to compliance with the Banking Regulation Act, 1949, RBI Directions 2025, FEMA, and SEBI regulations. The approval expires if the specified major shareholding is not acquired within one year, the aggregate holding must not exceed the approved cap at any time, and any increase to or beyond 5 per cent after falling below that level requires prior RBI approval.
February 26, 2026
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Trade facilitation advances India's digital customs reforms and TFA Plus measures, enhancing MSME integration into global value chains.
India has implemented comprehensive trade facilitation reforms to fulfil and extend WTO Trade Facilitation Agreement commitments by advancing TFA Plus measures under the National Trade Facilitation Action Plan 3.0. Core elements include a Single Window Interface, Customs Automated System, Risk Management System, pre-arrival processing, electronic exchange of origin data, electronic cargo tracking and coordinated border management. Capacity building through recognised institutions and partnerships supports other countries' implementation, while measures such as advance rulings, an Authorised Economic Operator programme and trust-based processes aim to reduce compliance burdens for MSMEs and facilitate e commerce exports.

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Customs, DGFT & SEZ

Department of Commerce convenes Stakeholder Consultation to ensure trade continuity amid evolving geopolitical developments

March 2, 2026

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The Department of Commerce, Ministry of Commerce & Industry, held a stakeholder consultation with all stakeholder ministries, key logistics and trade facilitation partners to review the emerging geo-political situation and its potential impact on India’s export-import (EXIM) cargo flows, including the export ecosystem.

The meeting was chaired by Special Secretary, Department of Commerce, Shri Suchindra Misra and Shri Lav Agarwal, Director General of Foreign Trade (DGFT). The meeting was attended by representatives from logistics operators and shipping lines/forwarders, Central Board of Indirect Taxes & Customs, Department of Financial Services, Ministry of Petroleum & Natural Gas, Ministry of Ports, Shipping and Waterways, the Reserve Bank of India, export promotion ecosystem and other concerned agencies.

Stakeholders presented an assessment of the evolving operational environment, including routing and transit-time changes, vessel scheduling adjustments, container/equipment availability, freight and insurance cost trends, and implications for time-sensitive exports. The discussions covered the need to maintain predictability in cargo movement, minimise avoidable delays, and ensure seamless documentation and payment processes for exporters and importers.

The Department reiterated the Government of India’s priority of ensuring continuity of EXIM logistics and mitigating any disruptions to India’s trade flows. It was emphasised that the approach will remain facilitative and coordinated, with a focus on maintaining supply chain resilience, protecting the interests of exporters—particularly MSMEs—with a view that essential imports required for domestic production and consumption are not adversely affected.

During the meeting it was agreed amongst the stakeholders to maintain close, real-time coordination for monitoring route and capacity developments, surcharges, and equipment availability. Mechanisms for facilitation of time-sensitive export segments such as perishables, pharmaceuticals, and high-value manufactured exports were also discussed. The meeting emphasised strengthening facilitation at ports/ICDs and ensuring smooth cargo evacuation to avoid congestion and extended dwell times.

The Government reiterated its readiness to facilitate trade operations, including:

  • Procedural flexibility in export-related authorisations in cases of genuine disruption;
  • Coordination with Customs authorities to ensure smooth clearance;
  • Engagement with financial and insurance institutions to support exporter interests;
  • Continued inter-ministerial coordination.

The Department reaffirmed that it will continue to engage closely with all stakeholders and relevant Ministries/Departments to ensure that India’s trade continues to move efficiently and that any emerging issues are addressed in a timely manner.

India’s Trade Resilience

India has successfully navigated multiple global disruptions in recent years and continues to strengthen supply chain resilience. The Government remains committed to ensuring that India remains a stable and reliable trading partner.

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Acts Income Tax