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May 1, 2026
Show AI Summary
GST collections rise to a record high as April revenue shows a strong monthly increase in tax receipts.
Gross GST collections rose by 8.7 per cent in April to a record high, according to government data, reflecting a strong increase in tax revenues during the month. The reported collection level was the highest recorded for the period covered by the update, and the note presents the rise as part of the latest monthly GST revenue position.
May 1, 2026
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GST collections reach record high as domestic receipts, import-linked inflows, and net mop-up all rise in April.
Gross Goods and Services Tax collections rose to a record high in April, with overall receipts increasing year on year. Domestic transaction revenues registered a moderate increase, while collections from imports rose sharply. Refunds also increased during the month, but net GST mop-up remained higher after adjustment for refunds.
May 1, 2026
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Crypto currency frauds and terror financing emerge as new enforcement focus areas for the agency.
The Enforcement Directorate identified crypto currency frauds, terror financing, cyber-enabled crimes and narcotics trafficking as its new focus areas, while noting a decline in bank and real estate frauds after implementation of the Insolvency and Bankruptcy Code and the Real Estate (Regulation and Development) Act. It also reported filing 812 chargesheets and 155 supplementary chargesheets during 2025-26, a 94 per cent conviction rate, pending money laundering trials, and restitution of assets to victims of financial fraud under the Prevention of Money Laundering Act, the Fugitive Economic Offenders Act and the civil provisions of the Foreign Exchange Management Act.
May 1, 2026
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Trade barriers and tariff reduction shape the provisional EU-Mercosur deal, alongside safeguard clauses and legal challenge.
The EU-Mercosur trade agreement has taken provisional effect, beginning a gradual reduction of trade barriers and tariffs and opening wider market access for exporters and businesses on both sides. The deal is subject to a legal challenge before the EU judiciary and may be halted if the court rules against it. It preserves economic safeguard clauses for sensitive sectors such as poultry, beef, sugar and fruit while facing opposition over competition, environmental standards and market disruption.
May 1, 2026
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Windfall gains tax on fuel exports reduced as diesel and aviation turbine fuel duties are revised downward.
Windfall gains tax on exports of diesel and aviation turbine fuel was reduced, with the special additional excise duty on diesel exports cut to Rs 23 per litre and on aviation turbine fuel to Rs 33 per litre. The road and infrastructure cess on diesel exports was made nil for the next fortnight, and the duty on petrol exports remained nil. No change was made in the existing excise duty rates applicable to petrol and diesel for domestic consumption.
April 30, 2026
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FDI automatic route rules are being eased for foreign companies with limited Chinese shareholding, alongside faster processing for key sectors.
Foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent are to be permitted to invest in India under the automatic route in sectors where foreign direct investment is allowed, subject to notification under FEMA. The relaxed regime does not extend to entities registered in China, Hong Kong, or other land-border countries, and earlier mandatory government approval requirements are being revised accordingly. FDI proposals in specified manufacturing-related sectors are to be processed within 60 days, and older proposals under the earlier framework are being reviewed for possible investment on intimation basis.
April 30, 2026
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Reproductive rights and legal administration take centre stage as the Supreme Court flags pregnancy termination, airfare regulation, and tribunal delays.
The Supreme Court highlighted issues concerning reproductive rights, airfare regulation, mediation in a commercial dispute, court strikes, professional misconduct, and insolvency delays. It said a child cannot be forced to bear a pregnancy and urged amendment of the law to permit termination by rape survivors beyond 20 weeks, sought a Centre affidavit on airfare guidelines, appointed a sole mediator in a textile project dispute, and took note of delays and administrative concerns in judicial and quasi-judicial processes.
April 30, 2026
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Fake Aadhaar racket enforcement exposes organised identity document forgery and illegal preparation of forged documents.
Police action against an alleged fake Aadhaar and forged-document racket led to the arrest of three persons operating an illegal setup to prepare identity documents. The search resulted in recovery of a fingerprint scanner, laptops, a hard disk, a scanner, multiple Aadhaar cards and other suspicious documents, indicating organised misuse of identity-document systems. Interrogation suggested that the group had been engaged in preparing fake identity documents for some time and was using the activity to deceive people and earn unlawful gain.
April 30, 2026
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Investment facilitation and manufacturing confidence drive grounded projects, diversified inflows, and large-scale job creation across multiple states.
Invest India facilitated the grounding of 60 projects worth over USD 6.1 billion in Financial Year 2025-26, spanning 14 states and expected to generate more than 31,000 jobs. The investment inflow was led by Europe, with participation from the United States, Japan, South Korea, Australia, and other markets, while emerging source countries reflected diversification in the investment base. The facilitation model covers the full investment lifecycle, supports joint ventures, and builds integrated industrial ecosystems. Chemicals, pharmaceuticals and biotechnology, and food processing accounted for a major share of grounded investments, alongside activity in electronics system design and manufacturing, aerospace and defence, and auto/EV.
April 30, 2026
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Basmati farming training and AI-based crop survey initiatives expand capacity building, varietal assessment and export planning.
A 70-year lease arrangement has been concluded for the development of a Basmati & Organic Training Centre-cum-Demo Farm at Tanda Bijaisi, Pilibhit, involving APEDA, the Department of Agriculture and the Government of Uttar Pradesh. The proposed facility will support capacity building for Basmati and organic farmers and function as a resource centre for agricultural experts and students. India's first AI-based Basmati Paddy Survey project has also been launched for crop assessment, varietal identification, scientific advisory support and export planning.
April 30, 2026
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Stressed asset resolution gains pace as NARCL expands acquisitions and accelerates recoveries across large borrower accounts.
National Asset Reconstruction Company Limited (NARCL) has expanded its stressed asset resolution role by acquiring 33 borrower entities with aggregate debt exposure of Rs.1,65,862 crore and participating in resolution processes under the Insolvency and Bankruptcy Code. FY 2025-26 saw accelerated recoveries, with Rs.4,364 crore realised during the year and cumulative recoveries reaching Rs.6,345 crore across 23 accounts, while further recoveries remain underway.
April 30, 2026
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Industry-aligned online MCA programme adds Microsoft certifications and Internshala tie-up to boost employability and career readiness.
Chandigarh University Online has launched its Online MCA programme with embedded Microsoft certifications in AI, cloud computing, software development, data analytics and IT administration to improve employability and career readiness. The university has also partnered with Internshala to give students access to industry-relevant opportunities and practical exposure through internships, jobs, online trainings and placement courses.
April 30, 2026
Show AI Summary
Workforce expansion in public sector banks aims to improve service delivery, financial inclusion, and operational capacity.
Public sector banks have been strengthened through calibrated human resource expansion, with recruitment aligned to manpower requirements and conducted through a centralised and standardised IBPS process intended to support transparency and efficiency. The staffing initiative has led to substantial year-on-year growth in selected candidates and is directed toward improving operational capacity, reducing workload pressures, enhancing customer service, supporting underserved areas, and advancing financial inclusion and credit outreach.
April 30, 2026
Show AI Summary
LPG subsidy targeting tightens as households with PNG connections must surrender domestic gas links.
Government is identifying households with dual LPG and PNG connections under an order that bars PNG consumers from retaining or obtaining subsidised domestic LPG. Such consumers must surrender their domestic LPG connection, while government oil companies and distributors are prohibited from issuing new domestic LPG connections or supplying cylinder refills to them. The measure is aimed at curbing misuse, targeting subsidies better, and prioritising LPG supply for households without piped gas access.
April 30, 2026
Show AI Summary
Resolution plan approval delays under insolvency law draw suo motu attention over backlog and tribunal capacity concerns.
Delay in approval of resolution plans by NCLT benches under the Insolvency and Bankruptcy Code has been taken up by the Supreme Court on a suo motu basis. The Court flagged shortage of manpower and infrastructure in the NCLT system and noted a large backlog of pending approval applications nationwide, with delays extending beyond 700 days. The matter was directed to be placed before the Chief Justice of India for assignment to an appropriate bench.
April 30, 2026
Show AI Summary
Zero-rated exports under GST and IMEC momentum are strengthening Karnataka's trade prospects amid global disruptions.
The India-Middle East-Europe Economic Corridor is described as an alternative trade pathway to traditional maritime choke points amid geopolitical tensions, with the potential to improve connectivity and reduce freight and sailing-time costs. Exporters are also said to benefit from the GST regime because exports are treated as zero-rated supplies, allowing refund of input taxes. Recent measures have accelerated refund processing, reduced documentation and compliance costs, and eased working capital pressure.
April 30, 2026
Show AI Summary
Oil supply independence may pressure prices as the UAE exits OPEC and alters market expectations.
The United Arab Emirates' withdrawal from OPEC and OPEC+ gives it independent control over production and exports, potentially increasing global oil supply outside collective quota agreements. The article explains that any price effect will depend on whether the UAE can raise exports despite shipping disruption through the Strait of Hormuz, and that markets may react immediately to expectations, speculation and uncertainty even before output changes occur.
April 30, 2026
Show AI Summary
Export promotion strategy focuses on MSME support, market access, logistics and monitoring for the export target.
A review of the export promotion strategy focused on achieving India's USD 2 trillion export target by 2030-31 through a structured monitoring framework, inter-departmental coordination and IT-enabled tracking. The Export Promotion Mission was highlighted as a flagship MSME-focused initiative with two sub-schemes covering trade finance and market access, supported by operational components including credit support, testing and certification, warehousing, logistics and trade facilitation. The review emphasised ground-level delivery for exporters, especially MSMEs, agricultural exporters and first-time exporters, alongside stronger Brand India promotion.
April 30, 2026
Show AI Summary
Insurance modernisation through digitalisation, customised products and wider outreach was emphasised to strengthen service delivery and growth.
Strategic review of the vision documents of four public sector insurance companies focused on improving operational efficiency, financial soundness, sustainable growth, human resource and IT strategies, and service delivery. The review emphasized reducing loss ratios, preserving market share, strengthening retail portfolios and rural and semi-urban presence, developing customised products for younger customers and emerging risks, and advancing full digitalisation. It also highlighted cybersecurity compliance, online insurance services, grievance redressal, prompt claims processing, and expansion of distribution networks through outreach and social media.
April 30, 2026
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Financial inclusion drive pushes banks to expand rural access, strengthen digital reach, and serve marginalised communities.
Public and private banks were reviewed on progress under financial inclusion schemes such as PMJDY, PMJJBY, PMSBY, APY and PMMY, along with related livelihood and welfare programmes. The review emphasised expansion of branches in unbanked villages, deployment of banking correspondents, resolution of infrastructure and connectivity issues, and strengthening of digital banking with assisted and vernacular support for last-mile access.

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Customs & Trade

West Bengal rice industry seeks infra push, faster clearances from new BJP govt

May 17, 2026

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Kolkata, May 17 (PTI) The rice industry in West Bengal, the country's largest rice-producing state, has sought better infrastructure, faster approvals and stronger export promotion from the new BJP government in the state to boost growth and investments in the sector.

Ricevilla Foods CEO Suraj Agarwal said the industry was looking for improvement in infrastructure for rice mills and warehouses, particularly in rural areas where poor roads, drainage systems and delayed electricity connections continue to affect operations.

"In many rural districts, electricity connections for new rice mills take months, causing delays, higher project costs and harassment. The industry expects faster services and proper infrastructure support from the government," Agarwal said.

He said modern storage and logistics infrastructure has become increasingly important as India's annual rice production crossed 1,500 lakh tonnes and government rice stocks exceeded 590 lakh tonnes.

The industry has also demanded a single-window clearance mechanism for licenses and approvals to reduce delays and paperwork.

Agarwal said the sector was also pushing for the formation of a dedicated Rice Industry Development Board to facilitate coordination among farmers, mill owners, exporters and government agencies for the overall development of the industry.

The demand has gained momentum after India's rice exports rose nearly 19 per cent in 2025 to around 215 lakh tonnes following the easing of export restrictions, industry officials said.

India is currently the world's largest rice exporter, accounting for nearly 40 per cent of global rice trade. Of the estimated 550 lakh tonnes of global rice trade annually, India exports over 200 lakh tonnes.

The industry also stressed the need for better rail and port connectivity to improve exports from eastern India.

West Bengal's premium rice varieties, such as Gobindo Bhog and Tulai Panji, both of which enjoy GI-tag recognition, have been witnessing rising demand in domestic and international markets.

"Government support for branding and promotion of Bengal's premium rice varieties in national and international markets can significantly increase exports and strengthen the global identity of Bengal rice," Agarwal said.

Meanwhile, West Bengal Rice Mills Owners Association chairman Sushil K Choudhury said the condition of rice mills in the state was "not in good shape" due to large-scale free rice distribution under both central and state government schemes.

"About 3.5 crore beneficiaries receive rice under the state pool in addition to 6.5 crore beneficiaries under the central pool. According to us this 3.5 crore state pool beneficiaries are above BPL category and do not deserve this free rice. If this is stopped, it will directly have a positive impact on rice mill owners in terms of viabililty," Choudhury said.

He said there are around 1,500 rice mills in West Bengal, of which nearly 550 are engaged in government procurement, while the remaining units are involved in private marketing and exports. A large number of rice mills are already closed due to losses, he said.

Industry estimates suggest that despite West Bengal contributing nearly 150 lakh tonnes to India’s total rice production, only a limited portion currently reaches export markets directly. Stakeholders believe focused branding and export promotion can help the state secure a larger share in India’s over Rs 90,000 crore rice export industry. PTI BSM RG

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