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    Cabinet approves three multitracking projects covering 19 Districts across the states of Madhya Pradesh, Rajasthan, Uttar Pradesh, Karnataka, Andhra P...
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May 6, 2026
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Railway multitracking projects approved to expand capacity, improve connectivity and strengthen freight movement across multiple states.
Cabinet approval was granted for three railway multitracking projects covering 19 districts across multiple states, with an estimated cost of Rs. 23,437 crore and completion targeted up to 2030-31. The projects comprise the Nagda-Mathura, Guntakal-Wadi and Burhwal-Sitapur third and fourth lines, and are intended to add about 901 km to the rail network. The capacity augmentation is aimed at improving mobility, operational efficiency, service reliability and congestion management, while supporting seamless movement of people, goods and services.
May 6, 2026
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Ship repair facility expansion at Vadinar to strengthen domestic capacity, reduce foreign yard dependence and improve port competitiveness.
Approval was granted for development of a state-of-the-art ship repair facility at Vadinar, Gujarat, as a brownfield project jointly implemented by Deendayal Port Authority and Cochin Shipyard Limited. The facility will include a 650-metre jetty, two floating dry docks, workshops and associated marine infrastructure, and is designed to serve large commercial and foreign-flagged vessels. The project is intended to fill a domestic capacity gap, enable repairs of vessels up to 300 metres within India, reduce dependence on foreign shipyards, improve turnaround times and strengthen repair capability on the western coast.
May 6, 2026
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Fair and Remunerative Price for sugarcane approved for the 2026-27 season with recovery-linked adjustments.
Fair and Remunerative Price (FRP) for sugarcane for Sugar Season 2026-27 has been approved at Rs.365 per quintal for a basic recovery rate of 10.25%, with a premium of Rs.3.56 per quintal for every 0.1% increase in recovery above 10.25% and a corresponding reduction for every 0.1% decrease in recovery. No deduction is to be made where recovery is below 9.5%, and the approved FRP applies to sugarcane purchases by sugar mills from 1 October 2026.
May 6, 2026
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Credit guarantee coverage scheme extends additional liquidity support to MSMEs, non-MSMEs, and airlines affected by West Asia disruption.
Emergency Credit Line Guarantee Scheme 5.0 provides credit guarantee coverage through NCGTC for additional credit support to eligible borrowers affected by the West Asia situation. The scheme grants 100% guarantee coverage for MSMEs and 90% for non-MSMEs and the airline sector, with nil guarantee fee. Additional credit is capped according to borrower category, and the guarantee cover remains co-terminous with the loan tenor.
May 6, 2026
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Regional Rural Bank viability framework strengthens performance monitoring, governance reform, and long-term financial sustainability across banks.
The Department of Financial Services has approved Viability Plan 2.0 for Regional Rural Banks as a revised three-year framework for 2025-26 to 2027-28. The plan institutionalizes performance monitoring, strengthens governance reforms, and supports continued oversight to improve financial sustainability and long-term competitiveness across all Regional Rural Banks. It comprises 30 performance parameters across operational excellence, asset quality, profitability, and growth, including capital adequacy, credit-deposit ratio, digital adoption, non-performing asset levels, recovery performance, profitability ratios, and implementation of Government of India schemes.
May 6, 2026
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Rupee support strategy gains attention as lower oil prices and weaker dollar ease pressure on the currency.
The rupee appreciated against the US dollar as Brent crude prices eased and market sentiment improved after signals of possible progress in negotiations with Iran and a temporary pause in the Strait of Hormuz escort operation. Forex traders indicated that the Reserve Bank of India is pursuing a non-direct support strategy to stabilise the rupee without drawing on forex reserves, including encouraging state-run banks to raise funds through foreign currency bonds.
May 6, 2026
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Services exports drive India's overall export growth as merchandise trade shows modest gains despite global uncertainty.
India's goods and services exports rose in 2025-26 to an all-time high, with merchandise exports showing modest growth and services exports increasing more sharply. The rise in services exports, driven by stronger global demand for IT, business solutions, and professional expertise, underscored the economy's resilience and its contribution to the total export basket.
May 6, 2026
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Startup ecosystem diversification drives innovation across food, design, compliance, education, IP trade and digital platforms in India.
India's startup ecosystem in 2026 is described as a diverse landscape of ventures spanning design, food, IP exchange, wellness, education, compliance, surveillance, gaming, real estate, digital platforms and social impact. The common focus is on solving real-world problems through scalable, future-ready models built on innovation, quality, sustainability, community enablement and purpose. The featured businesses include consumer brands, backend food production, IP trade infrastructure, agri-tourism, AI training, compliance advisory, premium manufacturing, lead generation, property discovery and child-focused medical support.
May 6, 2026
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Defensive Hormuz operations and nuclear pressure define the evolving US stance as conflict with Iran remains unresolved.
The United States said major military operations against Iran are concluded after the stated objectives were met, while treating recent clashes as defensive in nature. The reopening effort in the Strait of Hormuz was described as a way to protect commercial shipping and assist stranded civilian sailors, alongside demands that Iran abandon its nuclear ambitions and restore freedom of navigation through the waterway.
May 6, 2026
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India-US trade deal nears final closure as tariff changes prompt redrafting to protect trade interests.
India and the United States are in the final stage of negotiations on a bilateral trade agreement and are said to be very close to signing it, though one remaining issue still has to be resolved. The talks have continued for months, with the aim of reaching closure and moving ahead on other trade and economic matters. India is also seeking preferential access to the US market as part of the agreement.
May 5, 2026
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Cybersecurity risk management for AI tools drives Sebi's advisory, task force, and strengthened market monitoring framework.
Sebi has cautioned regulated entities against cybersecurity risks from advanced AI-based vulnerability detection tools and highlighted concerns over exploitation of weaknesses, data confidentiality and the reliability of outputs. It has constituted the cyber-suraksha.ai task force to examine AI-related risks, develop mitigation strategies, share threat intelligence and best practices, and review third-party cybersecurity posture. Sebi has also advised regular vulnerability assessments, timely patching, enhanced monitoring, stronger API security, zero-trust architecture, vendor coordination and onboarding of the Market Security Operations Centre.
May 5, 2026
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Rupee pressure from crude oil and geopolitical tensions eases slightly as possible RBI support steadies currency trading.
Foreign exchange market conditions reflected pressure on the rupee from heightened geopolitical tensions, elevated crude oil prices, and foreign capital outflows. The currency touched an intra-day low before recovering to close slightly higher against the US dollar, with market participants attributing the support to possible RBI intervention and noting that import demand and broader risk aversion continued to weigh on sentiment. Market commentary linked the rupee's weakness to renewed clashes in the Gulf, concerns around the Strait of Hormuz, and the impact of higher Brent crude on oil-importing economies.
May 5, 2026
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Unclaimed deposits search portal and centralized database issues arise over tracing deceased depositors' funds for legal heirs.
The UDGAM portal enables registered users to search unclaimed deposits across multiple banks through an interactive facility, while the broader dispute concerns a centralised and searchable database for legal heirs to trace dormant bank deposits and related funds. The plea seeks an integrated online system under RBI control to inform heirs of deceased account holders and reduce unnecessary litigation in claims involving bank deposits, insurance and post office funds.
May 5, 2026
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Geopolitical tensions lift silver prices as gold stays under pressure amid inflation and tighter policy expectations.
Silver prices rose in the domestic market in line with firm global cues, supported by continued geopolitical tensions in West Asia and stronger commodity sentiment. Gold prices eased as investors reacted to energy-led inflation concerns, tighter monetary policy expectations, and a shift toward the US dollar and Treasury yields as safe-haven assets.
May 5, 2026
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Insurance penetration strategy focuses on wider coverage, stronger underwriting, digital expansion and improved service delivery.
Operational review of the Vision Strategy documents of LIC, GIC Re and OICL focused on medium-term and long-term planning for improving operational efficiency, financial stability and sustainable growth. Strategic directions were given to strengthen human resource and information technology frameworks to enhance service delivery and to align company policies with broader insurance-sector objectives. Insurance policy direction emphasized increasing insurance penetration and density while preserving market share, with a focus on widening coverage to a larger segment of the population and developing investment and underwriting strategies to reduce loss ratios.
May 5, 2026
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Non-food credit growth accelerated across sectors as banks saw broad-based demand from agriculture, industry, services and personal loans.
Scheduled commercial banks recorded robust non-food credit growth in FY 2025-26, with broad-based expansion across agriculture and allied activities, industry, services, and personal loans. The credit increase was supported by low interest rates, a government-backed capex cycle, structural reforms, and crowding-in of private investment. Agriculture benefited from sustained rural demand and improved formal credit flow, while industrial credit was led by micro and small industries and services growth was driven by non-banking financial companies, trade, and commercial real estate.
May 5, 2026
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AI and blockchain workforce verification strengthens attendance integrity, reduces ghost employee fraud, and supports offline public-sector operations.
Indian Railways has begun deploying DRISHTI, an AI- and blockchain-enabled smart workforce management system, to verify employee attendance through facial recognition and tamper-proof digital records. The system operates offline, can verify multiple workers from a single group photograph, and is intended for both field and office personnel. It creates permanent, unalterable attendance records while also supporting supervisor approvals, real-time reporting dashboards, task allocation, and leave management.
May 5, 2026
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Banking judgment and public purpose shape credit, supervision and financial stability beyond numbers and models.
Banking is presented as a field that must be understood through knowledge, judgment and public purpose, not through numbers, models or regulations alone. Economics supplies concepts such as incentives, information asymmetry, moral hazard, adverse selection and systemic risk, while the banking counter shows how credit appraisal depends on reading signals in cash flows, management quality, borrowing patterns and growth. Supervision is contrasted with the banker's viewpoint and is directed to safety, soundness, governance and the wider public interest.
May 4, 2026
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Direct tax collections rise despite tax cuts, with stronger corporate tax growth and stable non-corporate receipts.
Net direct tax collections increased in FY26 but fell short of the revised fiscal target after income tax relief measures were introduced in the budget. The changes included a higher rebate, revised tax slabs and rates, and a higher standard deduction, with collections showing stronger corporate tax growth, stable non-corporate tax receipts, and slightly lower refund issuance.
May 4, 2026
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Direct tax collections rise with stronger gross receipts and lower refunds, though the revised target remains unmet.
Net direct tax collections for 2025-26 rose 5.12 per cent to over Rs 23.40 lakh crore, but remained below the revised estimate of Rs 24.21 lakh crore. CBDT data showed net corporate tax collections at Rs 10.99 lakh crore and personal income tax, including Securities Transaction Tax, at about Rs 12.41 lakh crore. Gross direct tax collection stood at about Rs 28.12 lakh crore, while refund issuance declined 1.09 per cent to Rs 4.71 lakh crore.

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Customs & Trade

From Pilibhit’s Flutes to Global Trade: Union Minister Shri Jitin Prasada ji Highlights India’s Packaging Vision at IIP Diamond Jubilee Celebrations

May 15, 2026

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The Indian Institute of Packaging (IIP) marked the beginning of its Diamond Jubilee Year celebrations on 14th May 2026 in Mumbai, commemorating 60 years of pioneering contribution towards packaging innovation, sustainability, education, research and industrial development in India. Established under the Ministry of Commerce & Industry, Government of India, IIP has played a vital role in strengthening India’s packaging ecosystem through scientific packaging practices, sustainable solutions, export competitiveness, skill development and technological advancement across industries.

The landmark celebration reflected on IIP’s rich six-decade journey while reinforcing its commitment towards building future-ready and environmentally responsible packaging solutions aligned with the vision of Viksit Bharat.

Hon’ble Union Minister of State for Commerce and Industry and Ministry of Electronics & Information Technology, Government of India, Shri Jitin Prasada ji graced the occasion as Chief Guest and delivered a powerful address on India’s growth story being driven by the twin engines of technology and trade.

Speaking at the event, Shri Jitin Prasada ji emphasized that under the visionary leadership of Prime Minister Shri Narendra Modi ji, India today is no longer viewed merely as a population of 1.4 billion people, but as a trusted global partner and one of the world’s largest aspirational markets.

He highlighted the growing importance of AI, machine learning, sustainable technologies and innovation-driven manufacturing in strengthening India’s packaging ecosystem and global competitiveness.

“The future belongs to nations that embrace innovation, quality and sustainability. The packaging sector will play a defining role in shaping India’s global competitiveness. We must make in India, package in India and design in India — not only for ourselves, but for the entire world,” Shri Jitin Prasada ji said.

The Minister stressed that Indian consumers today are highly aspirational and quality conscious, adding that the era where “export quality” was considered separate from domestic quality is now over.

“There can be absolutely no compromise on quality. Prime Minister Narendra Modi ji always emphasizes three things — quality, quality and quality,” he remarked.

Reflecting emotionally upon his own constituency Pilibhit, Shri Jitin Prasada ji shared that nearly 95 percent of the flutes used across the world are produced there, though very few people are aware of it globally.

“But with strong packaging, branding and visibility, even a traditional product like the Pilibhit flute can reach every corner of the world. That is the power of quality packaging and presentation,” he added.

The Minister also spoke extensively about the opportunities emerging through Free Trade Agreements and India’s evolving role as a preferred destination for manufacturing and investment.

Addressing students, innovators and MSMEs, he highlighted the importance of future-ready technologies, research, sustainable packaging, biodegradable materials and testing infrastructure to help Indian industries compete globally.

He also reiterated the Government of India’s commitment towards ease of doing business, mentioning landmark reforms like the Jan Vishwas Bill which significantly reduced outdated compliances and regulatory hurdles for entrepreneurs and investors.

“India wants to roll out the red carpet for investors, not red tape,” Shri Jitin Prasada ji said, urging global investors to view India not merely as a market, but as a long-term strategic partner.

The Minister also encouraged the packaging industry to embrace sustainability as a responsibility rather than a compliance burden, stressing the importance of biodegradable materials, recycling and green packaging solutions in the years ahead.

The event also witnessed the presence of Guest of Honour Shri Raju Desai, Vice President, Plastindia Foundation, along with senior government officials, policymakers, industry leaders, academicians, exporters, manufacturers, alumni and stakeholders from across the country.

Held under the leadership of Shri R K Mishra, IRS, Director, IIP, and Shri Prabhakar Bantwal, Chairman, IIP, along with the Governing Body Members and Team IIP, the Diamond Jubilee celebrations highlighted the growing importance of innovation, sustainability and collaborative growth within India’s packaging sector.

Adding further significance to the occasion, Amitabh Singh, Chief Postmaster General, Maharashtra Circle, released a special commemorative postal stamp honouring the Indian Institute of Packaging’s 60-year legacy. Shekhar Amberkar, Deputy Director & Head – International Packaging Centre, Indian Institute of Packaging, also played a key role in the celebrations and the institute’s international outreach initiatives.

The event also witnessed the unveiling of the official Diamond Jubilee logo, release of the Diamond Jubilee souvenir and signing of an MoU with FDDI, marking a new phase of collaborative growth and institutional development.

A special presentation on Bharat Packaging Expo 2027 was also showcased during the event, highlighting India’s growing global positioning in the packaging and manufacturing ecosystem and reinforcing the country’s vision towards innovation-led industrial growth.

The celebrations further served as a platform for discussions around smart packaging, circular economy practices, sustainable materials, innovation-driven manufacturing and the evolving future of packaging in an increasingly competitive global marketplace.

Speaking on the milestone, Shekhar Amberkar, Deputy Director & Head – International Packaging Centre, Indian Institute of Packaging, said: “For six decades, the Indian Institute of Packaging has stood as a catalyst for innovation, education and sustainability within India’s packaging sector. As we enter our Diamond Jubilee Year, we reaffirm our commitment towards building globally competitive, sustainable and future-focused packaging solutions that contribute meaningfully towards the vision of Viksit Bharat.” Amitabh Singh, Chief Postmaster General, Maharashtra Circle, said: “The commemorative postal stamp celebrating the Indian Institute of Packaging is a tribute to an institution that has contributed immensely towards industrial development, innovation and nation-building. Packaging today is not merely about protection and logistics, but also about sustainability, communication and economic growth.” The Diamond Jubilee Year celebrations are expected to continue through a series of conferences, industry engagements, academic initiatives, innovation-driven collaborations and sustainability-focused discussions across the year, highlighting the evolving role of packaging in India’s growth story.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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