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    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
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July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
July 31, 2026
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Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
July 31, 2026
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Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
July 31, 2026
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Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
July 31, 2026
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Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
July 31, 2026
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Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
July 31, 2026
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Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
July 31, 2026
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Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
July 31, 2026
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Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
July 31, 2026
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Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
July 31, 2026
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Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
July 31, 2026
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Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
July 31, 2026
Show AI Summary
Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
July 31, 2026
Show AI Summary
Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
July 30, 2026
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Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
July 30, 2026
Show AI Summary
Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
July 30, 2026
Show AI Summary
Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
July 30, 2026
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Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
July 30, 2026
Show AI Summary
Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
July 30, 2026
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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.

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NICDC Holds Workshop on BHAVYA Scheme and NTH–BIS Testing Infrastructure in New Delhi

May 30, 2026

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Consultation Sessions Held on Strengthening Implementation Framework of BHAVYA Scheme

National Industrial Corridor Development Corporation Limited (NICDC), under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), organised a workshop on the BHAVYA Scheme Framework and NTH & BIS Testing Facilities at Vanijya Bhawan, New Delhi.

The workshop was chaired by Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, Shri Amardeep Singh Bhatia, and Secretary, Department of Consumer Affairs (DoCA), Government of India, Smt. Nidhi Khare. More than 100 representatives from 31 States and Union Territories participated in the session. The workshop was also attended by senior officials from DPIIT and DoCA, Industrial Development Corporations, State Special Purpose Vehicles (SPVs), Bureau of Indian Standards (BIS), National Test House (NTH), NICDC and other stakeholder agencies.

Delivering the welcome and context-setting address, Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, highlighted the importance of creating investment-ready industrial ecosystems supported by robust infrastructure, quality assurance mechanisms and efficient institutional frameworks. He noted that initiatives aimed at developing world-class industrial parks and strengthening testing and certification infrastructure would contribute significantly towards the vision of Viksit Bharat@2047, Make in India, PM GatiShakti National Master Plan and the National Logistics Policy.

The workshop was organised in two sessions. The first session focused on quality infrastructure and testing facilities. It included an address by Secretary, Department of Consumer Affairs, Smt. Nidhi Khare, followed by a presentation by Director General, National Test House (NTH), Dr. Alok Srivastav, on commercial testing of products and establishment of NTH laboratories. This was followed by a presentation by Deputy Director General, Bureau of Indian Standards (BIS), Shri Harmohan Jit Singh Pasricha, on the Quality Control framework, including Quality Control Orders (QCOs). The session concluded with an interactive discussion with participating States, Union Territories and stakeholder institutions.

During the session, National Test House showcased its expanding testing and quality assurance ecosystem, including capabilities in emerging areas such as drone certification, EV battery testing, aerospace components, solar equipment and organic food testing. NTH also highlighted its ongoing collaboration with NICDC to establish testing facilities and sample collection centres within industrial corridor projects, enabling industries to access testing and certification services closer to manufacturing locations. Appreciating NICDC’s industrial infrastructure, NTH noted that the industrial nodes provide an enabling environment for deployment of testing and certification facilities.

The Bureau of Indian Standards presented the evolving national quality infrastructure framework and highlighted the growing network of standards, certification systems, Quality Control Orders (QCOs) and laboratory infrastructure supporting industrial development. BIS emphasised that greater adoption of standards and quality compliance would enhance product reliability, facilitate market access, improve export competitiveness and strengthen investor confidence in India’s manufacturing ecosystem.

The second session focused on the BHAVYA Scheme framework and implementation roadmap. The session commenced with an address by Secretary, DPIIT, Shri Amardeep Singh Bhatia, followed by a detailed presentation on the BHAVYA Scheme framework covering scheme objectives, implementation structure, eligibility conditions, land requirements, SPV structures, funding provisions and the role of implementing agencies. The presentation was well received by participants and queries raised during the session were addressed.

Secretary, DPIIT, Shri Amardeep Singh Bhatia, emphasised that the success of BHAVYA would be measured not merely by creation of infrastructure but by the extent to which industrial parks attract investors and become operational manufacturing hubs. He urged States and Union Territories to prepare investor-centric proposals, highlighting competitive advantages, ease of doing business measures and supporting ecosystems that would enable industries to commence production within a reasonable timeframe.

He further encouraged States and Union Territories to submit implementation-ready proposals and noted that project evaluation would focus on long-term industrial viability and investment potential. He reiterated that the scheme seeks to create industrial parks where infrastructure readiness translates into rapid investment grounding, manufacturing activity, employment generation and export competitiveness.

Joint Secretary, DPIIT, Smt. Gurneet Tej, highlighted that the scheme has been designed with a strong focus on immediate operability and investment readiness. She encouraged States and Union Territories to identify sector-specific industrial parks, undertake parallel investor outreach activities and align infrastructure planning with the requirements of targeted industries to facilitate faster grounding of investments. She also noted that the flexibility built into the scheme should be leveraged to develop industrial parks based on local strengths, connectivity advantages and existing industrial ecosystems.

Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, made a detailed presentation on the General and Operational Guidelines of the Bharat Audyogik Vikas Yojana (BHAVYA) Scheme. The presentation covered key provisions of the scheme, including eligibility criteria, challenge-mode selection process, implementation framework, funding structure, release of funds, monitoring mechanism, timelines, evaluation matrix, focus on social infrastructure and the framework for private developer-led industrial parks. Detailed clarifications were provided on the scheme guidelines and operational aspects to enable States and Union Territories to prepare quality proposals. States and Union Territories were also requested to examine the guidelines and provide inputs, suggestions and clarifications for consideration.

A separate presentation by NICDC focused on preparation and submission of Detailed Project Reports (DPRs) for projects proposed under BHAVYA. It covered project identification, land readiness, infrastructure planning, multimodal connectivity, utility provision, institutional arrangements, appraisal processes and documentation requirements. The presentation was followed by detailed discussions with stakeholders on practical implementation issues and suggestions for strengthening the scheme guidelines.

Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, also demonstrated the BHAVYA portal and requested States and Union Territories to furnish the requisite information through the portal.

The workshop concluded with a call to State Governments and Union Territories to identify suitable projects, prepare robust DPRs, establish clear institutional mechanisms and ensure timely implementation of projects under BHAVYA.

BHAVYA, notified by the Government of India on 10 April 2026, with operational guidelines issued on 23 May 2026, is a transformative national initiative with an outlay of ₹33,660 crore aimed at developing 100 investment-ready, plug-and-play industrial parks across the country. The scheme seeks to create complete industrial ecosystems with ready infrastructure, multimodal connectivity, reliable utilities, smart services, logistics access, investor facilitation mechanisms and sustainable industrial planning.

A key feature of BHAVYA is its inclusive and partnership-based approach, enabling participation from State Governments, Union Territories, Central Public Sector Undertakings and the private sector. The scheme marks an important step towards broadening industrial infrastructure development in the country while leveraging private sector efficiency, investment capacity and project execution expertise.

NICDC, with its experience in developing integrated industrial corridors and smart industrial cities under the National Industrial Corridor Development Programme, is well positioned to support implementation of BHAVYA. Its work on projects such as Dholera, AURIC, Vikram Udyogpuri, Integrated Industrial Township Greater Noida and other corridor nodes provides a strong foundation in master planning, trunk infrastructure development, multimodal connectivity, SPV-based implementation, investor facilitation and creation of plug-and-play industrial ecosystems.

As BHAVYA is at an early stage of implementation, the workshop provided a valuable platform for stakeholders to share practical inputs on eligibility, land requirements, DPR preparation, institutional structures, appraisal mechanisms and project implementation. The interactions and suggestions received during the workshop are expected to support smooth, effective and time-bound implementation of the scheme.

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