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    Explainer: MoSPI releases new GDP series with base year 2022-23
    Judge who discharged Arvind Kejriwal in excise-policy case dealt with several key matters in past
    NABARD projects priority sector credit potential of Rs 4.99 lakh cr for K'taka in FY 2026-27
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February 27, 2026
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Base year revision updates GDP measurement using new data and methods to better capture household and digital economy activity.
The government implemented a revised national accounts series with a new base year revision to update GDP measurement using contemporary data sources and methods. The revision addresses pandemic and tax system disruptions, will be extended into back series under the new methodology, and incorporates administrative and survey data to improve household sector measurement, private corporate allocation and new economy sectors, plus methodological shifts such as segregation of multi activity corporations and adoption of double deflation where appropriate.
February 27, 2026
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Prima-facie evidence assessment dictates whether complex corruption prosecutions can be sustained on available investigative material.
Prima-facie assessment of available evidence was central to the judge's review of the excise-policy prosecution: the court found the prosecution's material lacked concrete proof and relied on conjecture, and accordingly declined to sustain charges against the accused. The judge's prior decisions emphasize insistence on statutory preconditions for money laundering allegations and close scrutiny of magistrate and summons orders.
February 27, 2026
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Priority sector credit projections guide bank annual plans, prioritising agriculture, MSME lending and rural infrastructure financing.
Projection of priority sector credit potential quantifies exploitable lending needs across agriculture, MSME and other priority segments for the State, with agriculture accounting for the largest share and MSME receiving substantial allocation. Component estimates include crop and term loans, ancillary activities, housing, education, export credit, social infrastructure, renewable energy and agri infrastructure. The assessment is a consultative planning tool to guide banks' Annual Credit Plans and district credit strategies, signalling increased credit absorption capacity and alignment with sectoral priorities and infrastructure requirements to support rural resilience and enterprise development.
February 27, 2026
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Foreign influence allegations challenge political credibility as historic funding and security ties are used to rebut trade criticism.
Allegations claim the Congress accepted funds from the CIA and KGB during Indira Gandhi's tenure, producing policy effects such as an exchange-rate adjustment favoring Soviet imports and the decision not to pursue a proposed covert operation against a foreign nuclear facility; these claims are presented to rebut current criticisms of an interim bilateral trade framework by portraying past governance as compromised by foreign influence.
February 27, 2026
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GDP growth projection revised upward; nominal growth strong and economy expected to expand markedly next fiscal year.
GDP growth for the next fiscal year has been revised upward and nominal GDP outlook strengthened, with officials forecasting the economy will cross the four trillion dollar threshold. The upward revision follows a national accounts base-year update to 2022-23 that integrates new data sources and methodological changes to reflect structural shifts, and it alters nominal GDP levels with consequential effects on fiscal-deficit ratios while leaving key fiscal indicators like primary and revenue deficits and capital expenditure ratios broadly unchanged.
February 27, 2026
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GDP calculation revamp raises official growth estimate and restructures sectoral measurement, affecting fiscal and policy benchmarks.
A methodological overhaul adopting a 2022-23 base year revises GDP computation by introducing double deflation for manufacturing and agriculture, replacing single deflation, and shifting household estimation to regular surveys. The new series integrates administrative sources (GST, PFMS, vehicle data) to better capture informal and fast growing sectors, producing upward revisions to headline real and nominal growth rates, altering sectoral contributions-notably manufacturing and services-and changing fiscal deficit and policy benchmarks that require recalibration of prior forecasts.
February 27, 2026
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Money laundering probe under PMLA progresses as ED seeks statements and attaches assets amid linked bank fraud allegations.
PMLA investigation alleges bank loan fraud by group companies; the ED sought to record the principal individual's statement in a Yes Bank-linked money laundering case but he did not appear and his spouse sought adjournment. The ED has previously questioned the individual, conducted extended interrogation, attached a Mumbai residence under anti-money laundering law, filed multiple money laundering cases against group entities, and formed a Special Investigation Team to probe related instances. A parallel agency registered a fresh criminal case and conducted searches concerning alleged cheating of a public sector bank.
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.

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From Chennai Super Kings (CSK) to Clean Mobility and ZGolf: Zaggle Broadens its Enterprise and Ecosystem Strategy

March 5, 2026

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MUMBAI, India, March 5, 2026 /PRNewswire/ -- Zaggle, one of India's leading listed spend management companies, is accelerating its evolution into a scalable, compliance-first fintech infrastructure platform with a series of strategic initiatives spanning enterprise governance, sustainable mobility and leadership engagement. Over the past few weeks, the company has announced three distinct yet strategically aligned developments: • A marquee enterprise partnership with Chennai Super Kings (via Superking Ventures Private Limited) • A closed-loop CNG fleet solution with Adani Total Gas Limited and Hyundai Motor India • Its signature leadership platform, ZGolf by Zaggle Together, these initiatives reinforce Zaggle's broader ambition to build a multi-dimensional, governance-led transaction ecosystem beyond traditional spend management. At the heart of this evolution is Zaggle's deepening engagement with marquee enterprises that demand scale, transparency and governance-led financial infrastructure. Superking Ventures Private Limited, owner of the Chennai Super Kings, has partnered with Zaggle to deploy its Corporate Expense Cards integrated with Zaggle's Spend Management Platform. The partnership underscores Zaggle's growing traction among professionally managed, high-performance organisations seeking real-time visibility, structured controls and technology-driven compliance architecture. For Zaggle, such engagements are not one-off transactions but recurring, platform-led integrations designed to strengthen enterprise wallet share and drive long-term lifetime value. Complementing this infrastructure-led expansion, Zaggle is also investing in strategic relationship capital through 'ZGolf by Zaggle,' an invite-only leadership engagement platform hosted at the Classic Golf & Country Club, Gurugram. The curated golf learning session brought together senior corporate leaders for peer interaction, leadership dialogue and experiential networking. Through its acquisition of GreenEdge, which curates premium golf experiences for leading institutions including the National Payments Corporation of India, Zaggle has further strengthened its presence within India's growing golf ecosystem, positioning itself as an end-to-end enabler of premium engagement platforms that combine hospitality, structured execution and measurable outcomes. The collaboration with Adani Total Gas Limited further strengthens Zaggle's presence in high-frequency, compliance-sensitive sectors, aligning with India's clean mobility transition and regulatory-driven fuel ecosystem. By integrating payment infrastructure with sector-specific regulatory and operational requirements, Zaggle is building scalable, ecosystem-driven models that enhance recurring revenue visibility and long-term enterprise value. Commenting on the company's evolving strategy, Dr. Raj P. Narayanam, Founder & Executive Chairman, Zaggle, said: "At Zaggle, our vision has always been to build a governance-first, technology-led financial ecosystem that enables enterprises to operate with greater transparency, efficiency and control. Our approach is centred on increasing enterprise wallet share through platform-led integrations rather than standalone solutions. Each initiative whether in sports-led enterprise engagement, clean mobility ecosystems, or curated leadership platforms, strengthens Zaggle's positioning as a trusted, compliance-first fintech infrastructure partner." Viewed together, these initiatives underscore a coherent strategic direction, delivering enterprise-grade financial governance solutions to marquee organisations. Operating in the B2B2C segment, Zaggle is among India's leading prepaid card issuers, collaborating with 19 banking partners. As of December 31, 2025, the company has issued more than 50 million prepaid cards and serves over 3.7 million users across banking, financial services, technology, healthcare, manufacturing, FMCG, infrastructure and automobiles. About Zaggle Prepaid Ocean Services Limited (Zaggle) Founded in 2011, Zaggle (NSE: ZAGGLE) (BSE: 543985) is a category-leading spend management company with a strong technology-led value proposition and a diversified user base. Operating in the business-to-business-to-customer (B2B2C) segment, Zaggle is among a select group of players with a comprehensive suite of financial technology products and services. Zaggle is one of India's top issuers of prepaid cards, collaborating with 19 banking partners to drive its card offerings. The company also boasts a diverse portfolio of SaaS products and an extensive network of touchpoints. As of December 31, 2025, the company has issued more than 50 million prepaid cards, serving more than 3.7 million users across industries. Zaggle's enterprise network spans banking and financial services, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles. For more information, please visit: https://www.zaggle.in/ Media Contact: Haarmeet Arrora Vice President - Corporate Communication | Public Relations | Events +91-9820183489 | [email protected] Logo: https://mma.prnewswire.com/media/2927020/Zaggle_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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