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    Gross and Net GST revenue collections for the month of May, 2026
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June 2, 2026
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GST revenue collections showed provisional growth in May 2026, with adjusted figures reflecting the telecom spectrum one-time payment.
Gross and net GST revenue collections for May 2026 were presented as provisional figures, with break-ups for domestic revenue, import revenue, refunds and net collections under CGST, SGST and IGST. The note stated that May 2025 included a one-time telecom spectrum payment, and that adjusted growth is the better indicator of GST performance for May 2026. State-wise tables also showed SGST and IGST settlement figures and domestic GST revenue growth across States and Union Territories.
June 2, 2026
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Seafood export growth: India's frozen shrimp-led shipments hit a record high as the US and China stayed top markets.
India's seafood exports reached a record high in FY 2025-26, with frozen shrimp remaining the dominant export item and contributing the largest share of export earnings and overall quantity. The United States and China continued to be the principal overseas markets, with the United States leading in value terms and China leading in quantity terms. The European Union, Southeast Asia, Japan and the Middle East also remained major export destinations, while Visakhapatnam, Jawaharlal Nehru Port Trust and Kochi were the top ports handling seafood export cargo.
June 2, 2026
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Government accounts highlight revenue receipts, tax devolution to states, and expenditure composition across revenue and capital heads.
Government accounts for financial year 2025-26 were consolidated and published on a provisional, unaudited basis, showing receipts of the Union Government as net tax revenue, non-tax revenue, and non-debt capital receipts. During the period, a substantial amount was transferred to State Governments as devolution of the share of taxes, and total expenditure was recorded on both revenue and capital account, with interest payments and major subsidies forming significant components of revenue expenditure.
June 2, 2026
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Government revenue and expenditure account for April 2026 highlights tax receipts, devolution to states, and major spending heads.
Government of India's monthly account for April 2026 records the consolidated receipt and expenditure position for the month. Receipts comprise tax revenue, non-tax revenue and non-debt capital receipts, with a transfer made to State Governments by way of devolution of taxes. The account also notes the corresponding expenditure split between revenue account and capital account, and identifies interest payments and major subsidies as significant components of revenue expenditure.
June 1, 2026
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Banking sector growth drives priority lending, while emergency credit support scheme implementation gets expedited for eligible borrowers.
Kerala's banking sector showed strong growth in deposits, advances and priority-sector lending, with the credit-deposit ratio above the RBI benchmark. The review meeting also examined implementation of the Emergency Credit Line Guarantee Scheme and directed banks to identify eligible borrowers and deliver benefits expeditiously while supporting broader economic development.
June 1, 2026
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GST revenue growth driven by AI-based compliance and data integration lifted Andhra Pradesh to its best-ever May collections.
Andhra Pradesh recorded its highest-ever May GST revenue since the introduction of GST, with strong year-on-year growth in total collections and net GST receipts despite GST 2.0 rate rationalisation measures. The revenue increase was supported by higher IGST settlement, petroleum VAT, professional tax and liquor VAT collections, along with technology-driven compliance measures. The department also expanded data integration and enforcement through AI-based analytics, scrutiny systems, UPI transaction analytics, Aadhaar integration and inter-departmental data sharing.
June 1, 2026
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Bank loan misuse allegations lead to formal arrest permission and judicial custody in the ongoing fraud investigation.
CBI investigation into alleged misuse and diversion of bank loan funds in relation to Reliance Communications proceeded against a former senior executive, with the court permitting formal arrest in connection with the bank fraud case and remanding him to judicial custody in the meantime. The proceeding arose from allegations that loan funds and credit facilities sanctioned by a consortium of banks were managed and utilised in a manner that caused wrongful loss to the lending banks, while investigation against the accused remained ongoing.
June 1, 2026
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Rupee depreciation reflects geopolitical tensions, crude price gains and a stronger dollar, with RBI policy now in focus.
The rupee weakened against the US dollar amid renewed geopolitical tensions, higher crude oil prices, a stronger dollar, and softer global risk sentiment. Forex traders noted intraday volatility in the interbank foreign exchange market and said the currency was under pressure from external market conditions, while any continued peace talks could limit further downside. Market attention shifted to the upcoming RBI Monetary Policy Committee meeting and the central bank's policy signal.
June 1, 2026
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PMLA investigation dispute over scheduled offence timing and natural justice challenge in CMRL appeal
Appeal against a single-judge order permitting the Enforcement Directorate to continue a PMLA investigation was admitted, with no precipitative action to be taken until judgment. The dispute centres on whether a later SFIO complaint could justify an investigation that had allegedly begun before any scheduled offence existed, and whether additional affidavits filed after reservation violated natural justice. The company also challenged the ECIR, summons and related proceedings on jurisdictional grounds.
June 1, 2026
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Money laundering probe in alleged Chhattisgarh liquor scam leads to major asset attachments and four fresh accused
Properties worth more than Rs 1,000 crore were provisionally attached under the Prevention of Money Laundering Act in connection with the alleged Chhattisgarh liquor scam, on the basis that the probe had identified proceeds of crime exceeding Rs 2,883 crore. The investigation alleged manipulation of the excise system through inflated procurement rates, unaccounted liquor manufacture and commission extraction through FL-10A licences. The attachment orders covered properties linked to Vikas Agrawal and alleged benami properties of Dhebar, Hotel Westinn Goa, and financial assets of three FL-10A licence-holder companies. A fresh supplementary prosecution complaint named four additional accused.
June 1, 2026
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Money laundering investigation under the Prevention of Money Laundering Act turns on alleged layering and concealment of public funds.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged embezzlement of public funds from bank accounts linked to government departments and private schools. The investigation records an arrest for allegedly receiving proceeds of crime and participating in the generation, layering and concealment of laundered funds. It also alleges use of shell entities, jewellers and linked accounts to route, distribute and invest the proceeds, while the money trail and related assets are being traced.
June 1, 2026
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Steel safeguard and carbon border adjustment issues are emerging as key sticking points in India-UK trade pact implementation.
India and the United Kingdom are expected to discuss Britain's steel safeguard measure and proposed carbon border adjustment mechanism as implementation issues under the bilateral trade pact. The reported concern is that UK restrictions on tariff-free steel imports and the planned carbon pricing on carbon-intensive goods have become sticking points, prompting India to consider re-balancing duty concessions, including those on Scotch whisky, if the matters are not addressed.
June 1, 2026
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Duty-free market access expands under India-Oman trade pact, boosting exports, services commitments and skilled professional mobility.
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June 1, 2026
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Bilateral trade agreement talks focus on final drafting, tariff recalibration, and broader market access negotiations.
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June 1, 2026
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Export levies on petrol, diesel and ATF are revised fortnightly to support domestic fuel availability.
Export levies in the form of Special Additional Excise Duty and Road and Infrastructure Cess are imposed on exports of petrol, diesel and aviation turbine fuel to support domestic availability of petroleum products by discouraging exports. The levy rates are reviewed and revised on a fortnightly basis according to average international prices of crude oil and petroleum products prevailing since the last review. No change is made to the existing excise duty rates on petrol and diesel cleared for domestic consumption.
June 1, 2026
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June 1, 2026
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India-Oman CEPA expands duty-free access, services commitments and trade facilitation across goods, investment and professional mobility.
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June 1, 2026
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No interim order for Gymkhana: HC after Centre says won't take forceful possession by June 5

May 26, 2026

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New Delhi, May 26 (PTI) Giving Delhi Gymkhana Club members a breather, the Delhi High Court on Tuesday took note of the Centre's submission that it would not take forceful possession of the colonial era club by June 5 and said no interim order was needed at the moment.

Justice Avneesh Jhingan also refused to interfere at this stage with the Centre's decision to terminate the perpetual lease of the 27.3 acre plot of the club in the heart of Lutyens' Delhi and posted the matter for end of July.

The court proceedings have given Gymkhana members a reprieve at least till July end -- when the Centre will file its response to the petition and the petitioner the rejoinder to the government's reply.

Solicitor General Tushar Mehta, who appeared for the Central government, said eviction proceedings will only be initiated in accordance with law and after giving due notice.

"June 5 is the date of which we have given an option to the lessee to vacate on its own. Unlike the popular belief, which is going rounds in media circles, it not that the police will rush in and forcible possession will be taken over. It will have to be taken over in accordance with the procedure established by law," he submitted.

Mehta added that compensation in this case can either be in terms of money or the government can offer an alternative land.

On May 22, an order issued by the Land and Development Office (L&DO) under the Union Housing and Urban Affairs Ministry asked DGC to return its land by June 5 on grounds of "strengthening and securing defence infrastructure".

The court observed on Tuesday that at this stage, there was nothing on record to suggest that authorities had initiated legal action for eviction and therefore no interim order was required on the lawsuits by Gymkhana members and staff.

"The issue (of eviction) is premature and presumptive. If need so arises, the plaintiffs can avail their remedies in accordance with the law," Justice Jhingan stated.

"Taking into account the summons issued and the statement made by the solicitor general, no further interim directions are called for. The statement is to the effect that for eviction, if so to be done, will be in accordance with law with prior notice," he added.

The court also issued summons to the Centre and the club's management on the lawsuits by the Gymkhana members, the staff as well as the last elected governing body, and sought written statements from the defendants within eight weeks.

It dispelled the plaintiffs' apprehension that DGC's governing body, which comprises nominees of the Centre, might be "hand-in-glove" with the authorities and could, therefore, hand over possession.

The apprehension appeared contrary to the solicitor general's assertion that the governing body has already written to the authorities to raise their grievances, the judge said.

The court said in its order that issues of locus of plaintiffs to file the lawsuits and the requirement to give prior notice for termination of lease deed would be considered at an appropriate stage.

Senior advocate Abhishek Singhvi, appearing for Gymkhana members, urged the court to pass an order to restrain authorities from taking any further action in the matter.

He contended that the Centre's decision to terminate the perpetual lease deed -- executed in 1928 -- lacked a real or genuine "public purpose", was against Article 300A of the Constitution and was silent on the issue of compensation.

Article 300A states, "Persons not to be deprived of property save by authority of law." Singhvi added that since the club is presently being run by nominees of the Central government, the members were constrained to approach the high court for relief.

Senior advocate Kapil Sibal, appearing for the club's last elected body, said it was not a case of unauthorised occupation. Show-cause notice for eviction cannot be given after the government has already re-entered the premises, he argued.

Mehta accused the plaintiffs of "creating a ghost".

He said there cannot be any eviction by force, and any action must be as per the process prescribed in law.

Vijay Khurana, a Gymkhana member and one of the plaintiffs, said in his plea that the "vague and generalized reasons" of defence infrastructure and security given by the Centre were just a "sham". The move, he said, was an "attempt to effect forced eviction" instead of following the due process of law.

His lawsuit is stated to be supported by over 500 other members of the Delhi Gymkhana Club.

The plea seeks to restrain the Central government from "illegally determining" the Gymkhana Club's perpetual leasehold rights and to prevent any forced dispossession from the historic premises situated at 2, Safdarjung Road.

DGC is adjacent to the prime minister's residence on Lok Kalyan Marg on one of the city's most valuable and strategically important land parcels, within the high-security administrative zone that also houses several key central government and defence establishments.

Originally founded on July 3, 1913, as the Imperial Delhi Gymkhana Club, the institution was established to serve colonial administrators and military officers.

The word 'Imperial' was dropped after India gained Independence in 1947, while the existing structures were constructed in the 1930s.

In 2022, the National Company Law Tribunal (NCLT) permitted the appointment of 15 government-nominated directors on the club's general committee after the Ministry of Corporate Affairs filed a plea alleging oppression and mismanagement in its affairs. PTI ADS SJK MIN MIN

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