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    Iran Crisis: No immediate oil disruption for India; Russia pivot possible if conflict drags on
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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
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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.
February 28, 2026
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Wrongful availment of input tax credit exposed; GST practitioner arrested and probe launched under CGST provisions.
A tax enforcement operation exposed an organised network issuing fake invoices and e way bills to wrongfully avail input tax credit through numerous GST registrations and shell entities. A registered GST practitioner was identified as the coordinator, arrested under provisions of the CGST Act, and remanded; investigators are tracing beneficiaries and quantifying the fraudulent input tax credit claims.
February 27, 2026
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Model mediation procedures enable mutually agreed mediation with a mediator and a time bound effort to reach a solution.
An annexure on model mediation procedures permits a Party to request mediation against a measure alleged to adversely affect trade, requires sufficiently detailed requests identifying the measure and effects, and makes mediation subject to mutual agreement. The annexure governs mediator selection, locations and modalities, provides that failure to agree on a mediator within the specified time results in rejection of the request, encourages a time bound endeavour to reach a mutually agreed solution after mediator appointment, and allows consideration of interim solutions.
February 27, 2026
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Tax revenue review urges accelerated compliance measures and AI-driven enforcement to strengthen state tax collection.
The Chief Minister reviewed tax and non-tax receipts, identified a shortfall versus annual tax targets, and directed departments to accelerate collection through transparency, efficiency and innovation. The meeting highlighted strengthened compliance measures-GST 2.0, AI-based risk analysis, extensive taxpayer scrutiny, e-invoicing and e-way bill monitoring-resulting in targeted investigations, control of fake input tax credit claims, and recovery actions; the Chief Minister also ordered enhanced excise vigilance during festivals.
February 27, 2026
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Political accountability: Opposition criticised for AI Summit protest, while government affirms focus on national development and institutional strengthening.
Prime Minister Narendra Modi criticised the opposition for a shirtless protest at an AI summit as evidence of its decline, emphasising that the government will continue its development agenda. He argued that an opposition's democratic role is to offer alternatives rather than reflexive opposition, cited millennials and Gen Z voter shifts as eroding the opposition's support, and linked recent trade deals to strengthened national institutions and reclaimed capability.
February 27, 2026
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Border management measures: intensified vigilance and financial scrutiny to prevent illegal migration and secure identity records.
Directives mandate intensified vigilance, inter-agency coordination and stricter financial scrutiny in India-Nepal border districts to counter illegal migration. Authorities will verify reported migrants and death cases, update or delete identity records upon confirmation, and conduct door-to-door verification while safeguarding genuine voters. A zero-tolerance stance on illegal construction and encroachments is paired with verification of business financing. District magistrates must ensure bank compliance with RBI reporting and PAN linkage, and sub-registrar offices face accountability for defective reporting of high-value property transactions.
February 27, 2026
Show AI Summary
GST reform underscores tax policy's role in inclusive sustainable development and strengthening cooperative federalism and accountability.
Tax policy is described as the foundation for mobilising resources and promoting inclusive, sustainable development through an equitable tax framework. Goods and Services Tax is identified as a historic unifying reform that simplifies the indirect tax regime, strengthens cooperative federal relations, and aligns taxation with trust, accountability and welfare oriented objectives to promote production and shared prosperity.
February 27, 2026
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Creditor-driven decision-making upheld: courts must limit review to statutory confines to preserve insolvency speed and finality.
The IBC privileges creditor-driven decision-making, speed and certainty by confining judicial review to narrow statutory compliance, thereby protecting commercial choices of the Committee of Creditors as matters of commercial wisdom. Expansive judicial scrutiny is value-destructive-lengthening timelines, raising transaction costs, encouraging strategic litigation and undermining predictability and finality-so respect for statutory limits preserves timely reorganisation of viable firms and swift exit of non-viable businesses.
February 27, 2026
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Rupee depreciation driven by foreign outflows and rising oil prices puts pressure on currency and equity markets.
Rupee declined against the US dollar due to large foreign fund outflows, higher global crude oil prices and weakening domestic equity markets; foreign institutional investors sold heavily and forex reserves fell in the reporting week, even as a GDP calculation revision raised the growth estimate, highlighting resilience amid external pressures.
February 27, 2026
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Fugitive economic offender arrested abroad; extradition sought under Fugitive Economic Offenders Act and PMLA measures.
A fugitive alleged to have run an extensive investment fraud was arrested in Dubai after an Interpol Red Notice; the Enforcement Directorate submitted an extradition request and dossier through the Ministry of External Affairs citing a prior declaration under the Fugitive Economic Offenders Act and ongoing PMLA investigations. ED actions include filing two chargesheets, arresting associates, attaching assets, and securing court-ordered confiscation, while coordinating with UAE authorities to effect provisional arrest and repatriation for prosecution.
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.

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GeM Celebrates Seven Years of SWAYATT Initiative to Promote Inclusive Public Procurement.

March 6, 2026

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SWAYATT Expands Access to Government Procurement for Startups, Women Entrepreneurs and SHGs through GeM

Women Entrepreneurs Register ₹83,323 Crore Orders on GeM; Startups Cross ₹54,000 Crore under SWAYATT

Government e-Marketplace (GeM) today celebrated the seven-year journey of its flagship initiative, SWAYATT – Startups, Women and Youth Advantage through e-Transactions – reaffirming its commitment to making public procurement more inclusive for startups, women entrepreneurs and youth across India.

Launched on 19 February 2019, SWAYATT was conceptualised with the vision of democratising government procurement by enabling startups, women entrepreneurs, youth, Micro and Small Enterprises (MSEs), Self Help Groups (SHGs) and last-mile sellers to directly participate in the public procurement ecosystem through Government e-Marketplace.

Rooted in GeM’s foundational pillar of social inclusion, SWAYATT focuses on addressing three critical challenges often faced by emerging enterprises—access to markets, access to finance and access to value addition. By leveraging the digital procurement infrastructure of GeM, the initiative enables enterprises from across the country to connect directly with government buyers, thereby reducing barriers to entry and expanding opportunities.

The commemorative programme marking the seven-year journey of SWAYATT was organised at the GeM office, bringing together policymakers, startup founders, women entrepreneurs and ecosystem partners to reflect on the initiative’s impact and future roadmap.

The programme began with a perspective on SWAYATT by Additional CEO, GeM, Shri Ajit B. Chavan. The event also featured special addresses by distinguished guests including Co-Founder and Director, NEDAR Foundation, Shri K. V. Rajendran; Director, Ministry of Micro, Small and Medium Enterprises, Shri Md. Salik Parwaiz; and Deputy Director, Department for Promotion of Industry and Internal Trade, Shri Md. Alam Ansari.

Entrepreneurs from across sectors also shared their experiences of participating in public procurement through GeM. Founder, Club First Robotics, Smt. Neelima Mishra, and Founder, Surprise Someone, Ms. Pinky Maheshwari highlighted how GeM has enabled their enterprises to access government markets and scale their businesses.

A short film capturing the seven-year journey of SWAYATT was also screened, showcasing how the initiative has expanded opportunities for startups, women entrepreneurs and youth across the country.

Delivering the keynote address, CEO, GeM, Shri Mihir Kumar said that SWAYATT embodies GeM’s vision of making public procurement more inclusive by enabling startups, women entrepreneurs and youth to access government markets directly. He noted that by leveraging digital technology and partnerships across the ecosystem, GeM is helping transform emerging enterprises into active participants in the country’s economic growth.

Since its inception, SWAYATT has become a key pillar of GeM’s inclusive public procurement ecosystem, enabling startups, women entrepreneurs and MSEs to access government markets with greater visibility and opportunity. Dedicated storefronts such as Startup Runway and Womaniya further strengthen this ecosystem by enhancing discoverability among lakhs of government buyers across the country.

The initiative’s impact is reflected in the significant growth in participation and transaction value across these seller segments on GeM.

Women entrepreneurs have recorded strong growth on GeM, with cumulative order values rising from ₹1,265.62 crore in FY 2018–19 to ₹83,323 crore by FY 2025–26. During the same period, order volumes increased from 1,01,530 to 44,48,894, reflecting the expanding participation of women-led enterprises in public procurement over the seven-year journey of SWAYATT.

Participation of startups has also witnessed strong momentum on the GeM platform, with cumulative order values increasing from ₹497.24 crore in FY 2018–19 to ₹54,005.8 crore by FY 2025–26. During the same period, order volumes expanded from 17,434 to 5,30,578, highlighting the growing role of startups in public procurement through the SWAYATT initiative.

These outcomes highlight how SWAYATT has enabled emerging enterprises to scale their participation in government procurement through digital access, transparent processes and direct market linkages. Through sustained capacity building and outreach, GeM continues to expand opportunities at the grassroots level.

Over the past seven years, SWAYATT has demonstrated how technology-driven procurement can expand equitable access, truly making the invisible invincible in public procurement.

***

Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

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Acts Income Tax