Import curbs on silver tighten trade controls as import policy shifts from free to restricted with licensing requirements.
Import policy for silver, including silver plated with gold and platinum, was revised from free to restricted with immediate effect, requiring a government licence for imports. The change followed an increase in customs duty on precious metals and reflects tighter controls on silver imports and related precious metal trade.

Cyber fraud through fake social media profiles allegedly targeted victims with gift and customs duty extortion.
Cyber fraud through fake social media profiles involved allegedly impersonating foreign nationals to befriend victims and induce payments on the pretext of expensive gifts and foreign currency. The operation allegedly escalated into posing as customs or income tax officials and demanding money toward customs duty, income tax, GST and related fees after claiming that parcels had been detained at airports. Mobile phones and SIM cards were seized, and a case was registered under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.

Inflation and affordability pressures dominate as tariffs, supply shocks, and rising borrowing costs strain US households.
Rising consumer inflation in the United States is reducing purchasing power as prices outpace wages and are expected to increase further under supply-side pressures, including tariffs, labor constraints, and oil disruptions. The article links higher inflation to increased borrowing costs and notes that trade and foreign-policy claims have produced little concrete relief for domestic affordability concerns. Political debate is focused on whether there is a credible plan to lower costs and address inflation.

Insolvency resolution-driven land acquisition expands real estate portfolio through approved NCLT process and planned development
Acquisition of Township Developers India Pvt. Ltd. through the National Company Law Tribunal resolution process under the Insolvency and Bankruptcy Code, with Aspect Global Ventures emerging as the successful resolution applicant under the approved resolution plan and taking control of the assets for further development activity. The acquired assets include substantial land parcels in Maharashtra, intended for phased development subject to regulatory approvals.

GST and VAT fraud through dummy firms and fund layering led to arrests and custodial interrogation.
Two persons, including a chartered accountant, were arrested in connection with alleged GST and VAT irregularities involving misuse of business credentials, dummy firms and layering of funds through multiple bank accounts. The complaint alleged unauthorised use of firm credentials for suspicious transactions, while investigators found cash withdrawals and electronic transfers without genuine business activity. The probe also pointed to dummy firms, filed GST compliances and rapid fund transfers to conceal beneficiaries and obscure the financial trail.

GST fraud through shell companies and fake invoicing networks allegedly enabled bogus input tax credit claims and concealed fund routing.
Alleged GST fraud and fake invoicing activity involved shell companies, forged documents and fabricated business identities used to generate bogus GST invoices and claim wrongful Input Tax Credit without actual supply of goods or services. The enquiry also concerns accommodation entries, fake returns and concealed fund movements routed through bank accounts and intermediaries, with investigators identifying a syndicate said to have created numerous shell companies using fraudulently obtained documents.

Unregulated deposit schemes and suspected investment fraud trigger action against a private investment firm owner.
Suspected investment fraud and unregulated deposit activity led to action against a private investment firm owner after district and police authorities found prima facie indications that funds had been collected from a large number of investors without valid approval from the RBI or SEBI. A case was registered under the Karnataka Protection of Interest of Depositors in Financial Establishments Act and the Banning of Unregulated Deposit Schemes Act, and the owner was taken into custody for further investigation. Officials also searched the firm's premises, examined records and laptops, and reported alleged collection of unsecured hand loans through informal agreements.

Knowledge contribution framework seeks stakeholder input on measuring knowledge products, traditional knowledge, and economic value.
A framework is being developed to measure the contribution of knowledge and knowledge products to the Indian economy, with expert consultation, a technical advisory group, and a base paper prepared for stakeholder review. The paper covers conceptual issues, available methodologies and metrics, traditional knowledge, and an initial framework for valuing knowledge contribution. A committee has been constituted to prepare an actionable policy paper, and comments from stakeholders and the public are invited.

Supply and Use Tables strengthen national accounts consistency through product-level reconciliation of production, income and expenditure estimates.
The Supply and Use Tables for 2022-23 and 2023-24 integrate annual national accounts with a product-by-industry framework to reconcile production, income and expenditure estimates at current prices. The tables distinguish domestic production, imports, taxes, margins and product uses, including intermediate consumption and final demand, and use product balancing to satisfy the identity between total supply and total use. The compilation covers 155 products and 67 industries and relies on survey and administrative data sources to improve consistency, granularity and comparability.

Windfall tax on petrol exports and lower levies on diesel and ATF reshape petroleum export duties.
Windfall gains tax was imposed on petrol exports, while the levy on diesel exports and aviation turbine fuel exports was reduced, effective 16 May. Road and infrastructure cess was made nil on exports of petrol and diesel, and the existing duty rates on petrol and diesel cleared for domestic consumption remained unchanged. The export-duty revisions were stated to increase domestic availability of petroleum products and discourage exporters from taking undue advantage of price differentials.

Fuel price hike protests intensify as opposition demands rollback and calls for petrol and diesel under GST.
Opposition parties in Odisha demanded an immediate rollback of the fuel price hike and protested the increase in petrol and diesel prices, alleging inconsistency in the ruling party's position on bringing petrol and diesel under the GST regime. The criticism also targeted the call to withdraw VAT, claims about oil company profits, and the broader burden of rising fuel costs, including commercial LPG and CNG prices.

Foreign investment approval for Emirates NBD's majority stake in RBL Bank advances a banking acquisition subject to regulatory conditions.
Foreign investment approval was granted for Emirates NBD Bank to acquire up to 74 per cent of the paid-up equity share capital of RBL Bank through a preferential issue, subject to customary conditions, applicable foreign ownership limits and the mandatory open offer process. The transaction contemplates Emirates NBD becoming the promoter and RBL Bank operating as a foreign bank subsidiary under the Reserve Bank of India framework, with the eventual amalgamation of Emirates NBD's India branch operations subject to further regulatory clearances.

Rupee depreciation under pressure from crude prices, inflation worries and dollar strength, with intervention offering support.
The Indian rupee weakened to a record intraday low and an all-time closing low against the US dollar amid elevated crude oil prices, inflation concerns, global uncertainty, a stronger dollar, and weak net FDI inflows. Likely RBI intervention helped limit further losses, while analysts said the rupee was expected to remain under pressure from crude oil, inflation, and dollar strength, with support possible from intervention and higher import duty on gold and silver.

Energy security and defence cooperation deepen as India-UAE sign strategic pacts and expand trade and technology ties.
India and the UAE concluded agreements on strategic petroleum reserves, long-term LPG supply, defence industrial collaboration, shipping, trade facilitation and advanced technology, alongside a USD 5 billion UAE investment commitment in India. The energy arrangements aim to strengthen energy security and stable fuel supplies, while the defence framework covers technology sharing, innovation, training, exercises, maritime security, cyber defence, secure communications and possible joint development of military hardware.

Onion procurement support price announced as growers reject the rate as below production cost and seek higher compensation.
Centre announced onion procurement from farmers at Rs 12.35 per kg through NAFED after export disruption and falling prices. Maharashtra onion growers' association said the rate was below production cost, sought a higher support price, compensation for past distress sales, direct procurement through market committees, and measures to boost exports.

Fuel price revision reflects higher crude costs, partial loss recovery, and likely inflationary pressure across transport and logistics.
Petrol, diesel and CNG prices were raised after a prolonged freeze, while piped natural gas and domestic LPG stayed unchanged. The revision was driven by higher global crude costs and the need for state-run fuel retailers to partly pass on accumulated losses. Industry sources said the increase was calibrated and still left oil marketing companies with under-recoveries if crude prices remain elevated, with likely inflationary spillovers through transport, logistics and input costs.

Value Added Tax cut on aviation turbine fuel in Maharashtra lowers airline fuel costs under a six-month concession.
Reduced Value Added Tax on Aviation Turbine Fuel in Maharashtra from 18 per cent to 7 per cent for six months under a notification issued pursuant to the Maharashtra Value Added Tax Act, 2002. The amendment substitutes the existing tax rate in Entry 6 of Schedule B, and the concessional rate remains in force until November 14 unless extended or modified by the government, after which the previous rate would apply.

International Financial Services Centre ecosystem showcased as BRICS delegation explores cross-border finance and fintech opportunities at GIFT City.
A BRICS delegation visited GIFT City in Gujarat and was briefed on India's evolving International Financial Services Centre ecosystem, including cross-border finance, fintech, trade and global business services. The delegation was informed that GIFT City functions as India's maiden IFSC and a gateway for international financial services, global capital flows and foreign currency transactions from within India. The visit also covered the city's regulatory ecosystem, infrastructure and sectoral opportunities across banking, capital markets, fund management, insurance, reinsurance, aircraft leasing, fintech and Global Capability Centres.

Gold and silver import surge meets higher customs duty as precious metal inflows weigh on trade balance and current account.
Gold and silver imports rose sharply in April, with gold reaching USD 5.62 billion and silver USD 411 million, while higher customs duty on precious metals is expected to reduce imports. The article notes that the UAE CEPA tariff rate quota for gold bullion had limited impact on overall imports, with Switzerland remaining the largest source of gold and imports continuing to affect the trade and current account deficit.

Trade growth in April 2026 as merchandise and services exports rise while the overall trade deficit narrows.
India's external trade for April 2026 is estimated to have recorded higher overall activity, with total exports of merchandise and services showing growth over April 2025 and total imports also rising. The trade balance remained in deficit, though the gap was smaller than in the corresponding month of the previous year. Merchandise exports increased over April 2025, supported by stronger shipments in petroleum products, electronic goods, engineering goods, meat, dairy and poultry products, and drugs and pharmaceuticals. Services exports were also estimated to have increased, while services imports were marginally lower than the previous year.