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    US proposes 12.5% tariffs on India, others on concerns over forced labour; India remains engaged in talks
    India remains engaged with the U.S. on Section 301 proceedings and for finalisation of a framework agreement
    Release of Uniform Guideline for Compilation of District Domestic Product (DDP) Estimates with Base Year 2022-23
    Rupee falls 31 paise to close at 95.67 against US dollar
    Cabinet approves Rs 10,000-cr ATF Stabilisation Fund to shield airlines from fuel price surge
    Indo-US deal: Trying to get remaining 1 pc sticking point across finish line, says US envoy
    India's fuel exports fall to lowest since 2022 amid refinery maintenance, domestic demand
    Ambit Institutional Equities highlights that new products can drive upgrades for Venus Pipes, maintains target of Rs 2336
    RBI's rate-setting panel starts deliberations, policy announcement on Friday
    Nearly 44,000 applications filed for re-evaluation: CBSE
    RBI dismisses gold sale rumours; physical reserves stand steady at 880.52 tonnes
    Engaged with US on Sec 301 probe over concerns related to forced labour, excess capacity: Govt
    CBSE says 40,000 students complete re-evaluation process without issues
    Ajay Rajan joins Protean eGov Technologies Ltd. as Managing Director & Chief Executive Officer
    Rupee falls 28 paise to 95.64 against US dollar in early trade
    USTR proposes 12.5% additional duties on India, 53 other countries over forced labour import violations
    India, UK discuss sticking points delaying free trade pact rollout
    Following are the top foreign stories at 2030 hours
    Rupee falls 17 paise to close at 95.36 against US dollar
    At 22 pc, Haryana GST collection growth rate in May highest in country: State govt
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    June 3, 2026
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    Forced labour import concerns drive proposed US tariff action on India amid pending Section 301 proceedings and trade talks
    The United States has proposed additional import duties of 12.5% on goods from 54 economies, including India, and 10% on six others, under pending Section 301 proceedings concerning imports of goods produced with forced labour. The measure remains unfinalised, with hearings, testimony summaries and written comments scheduled before any final decision. India says it remains engaged in the proceedings and in parallel bilateral trade talks, while the proposal also includes a special mechanism for textile and apparel products.
    June 3, 2026
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    Section 301 tariff proposals draw stakeholder hearings as India continues engagement on a framework agreement.
    The United States Trade Representative has proposed additional tariffs under Section 301 after concluding investigations against 60 economies, including India, with exclusions for section 232 products and certain others. A special mechanism is proposed for textile and apparel imports, and stakeholders may participate in hearings and submit written comments before a final decision is taken. India remains engaged in the Section 301 proceedings and in finalising a framework agreement with the United States.
    June 3, 2026
    Show AI Summary
    District Domestic Product standardisation advances uniform district economic estimates through bottom-up methods and consistent data allocation.
    Uniform guidelines for compilation of District Domestic Product estimates with base year 2022-23 have been finalized and released after stakeholder consultation on the draft framework. The guideline provides a standardized approach for preparing district-level economic estimates across States and Union Territories, covering concepts, data sources, estimation procedures and methodologies for Gross District Domestic Product, Net District Domestic Product and per capita income. It prioritizes the bottom-up approach where district-level data are available and recommends top-down methods and allocation indicators where information is insufficient.
    June 3, 2026
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    Foreign exchange pressure and Section 301 trade tensions weigh on the rupee as markets await RBI policy signals.
    The rupee weakened against the US dollar amid strong dollar demand, higher crude oil prices, geopolitical tensions and foreign capital outflows, while markets also watched the Reserve Bank of India's monetary policy meeting. The article further notes that the depreciation followed a proposal for additional duties on Indian imports linked to alleged labour violations and Section 301 investigations concerning forced labour and excess industrial capacity, with India engaging the United States on those issues and on an interim trade agreement framework.
    June 3, 2026
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    Aviation turbine fuel price stabilisation mechanism cushions airlines from fuel volatility and supports stable air connectivity.
    Cabinet approval was given for an aviation turbine fuel price stabilisation mechanism to cushion scheduled Indian airlines from exceptional fuel cost volatility arising from the West Asia crisis. The programme provides interest-free advances to state-owned oil marketing companies so that ATF can be supplied to airlines at a stabilised price for domestic and international operations, with the mechanism intended to support air connectivity and limit fare volatility while airlines face elevated fuel costs. Any amounts advanced are to be recovered when global fuel prices moderate, and the arrangement is stated to continue for up to 36 months, subject to annual review and earlier closure if the support amount is fully recovered and settled.
    June 3, 2026
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    Interim trade agreement talks advance as India and the United States seek to resolve final issues before formal signing.
    India and the United States were close to finalising an interim trade agreement, with negotiators seeking to resolve the remaining issues before formal signing. The agreement's framework had already been completed, and talks were focused on putting the arrangement into force. The article also referred to USTR Section 301 investigations on forced labour and excess industrial capacity, after which the United States proposed additional tariffs on imports from multiple economies as part of broader global trade measures.
    June 3, 2026
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    Refined petroleum exports weakened as refinery maintenance, domestic fuel demand, and export taxes shifted supply toward local markets.
    India's exports of refined petroleum products declined sharply as refinery maintenance, lower throughput, stronger domestic demand, and export taxes reduced overseas shipments. Planned maintenance at a major refining complex limited crude processing and export volumes, while refiners increased liquefied petroleum gas output for domestic supply and reduced petrol and diesel available for export. State-owned refiners also directed more output to local consumption amid energy security concerns and adequate domestic fuel requirements.
    June 3, 2026
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    Capacity expansion and new product launches support Venus Pipes growth visibility amid domestic recovery and export weakness.
    Venus Pipes reported revenue and EBITDA growth broadly in line with estimates, driven by a recovery in domestic demand while exports weakened amid geopolitical disruption. The company said its planned capacity additions are now operational, including fittings, and that utilisation remains high in seamless pipes, with welded pipe capacity also ramping up. The note highlighted the company's entry into spooling solutions for the data centre segment through capital expenditure supported by a large letter of intent, along with a healthy order book and future expansion plans.
    June 3, 2026
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    Monetary policy stance stays in focus as the repo rate is expected to remain unchanged amid inflation and growth pressures.
    The Monetary Policy Committee began its three-day policy deliberations ahead of the scheduled announcement, with market expectations centred on the repo rate remaining unchanged at 5.25 per cent. The reported policy setting is being assessed against a backdrop of external uncertainty, including West Asia conflict, higher energy prices, supply-chain pressures and a weaker rupee, all of which may affect inflation and growth projections. Commentary in the report indicates that the Reserve Bank of India may keep policy rates steady while adopting a cautious or mildly hawkish communication stance, including possible revisions to inflation and GDP growth forecasts.
    June 3, 2026
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    Answer sheet verification and re-evaluation process moves online with Aadhaar-based access, digital payment, and strict submission deadlines.
    CBSE has activated an online portal for verification of issues in scanned answer books and re-evaluation of answers, limited to students with scanned copies of their evaluated sheets. The process must be completed online within the prescribed window, with Aadhaar-based login, digital payment, and locked submissions after the freeze-and-proceed step. Students may report specific discrepancies in scanned copies, use designated payment gateways, and rely on Aadhaar details of parents, relatives, or guardians where the student does not have Aadhaar.
    June 3, 2026
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    Gold reserve clarification: central bank denies sale reports and confirms physical stock remains unchanged.
    The Reserve Bank of India clarified that reports of a gold sale were incorrect and that its physical gold stock remains unchanged at 880.52 tonnes. It advised the public to rely on official information and noted that gold's share in India's foreign exchange reserves had increased over the relevant period.
    June 3, 2026
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    Section 301 trade probe over forced labour and excess capacity keeps India engaged as tariff proposal remains unfinalised.
    India remains engaged with the United States in Section 301 proceedings concerning allegations of forced labour and excess industrial capacity, while also pursuing finalisation of an interim trade agreement framework. The United States Trade Representative has issued findings in the forced labour investigation and proposed additional tariffs on imports from multiple economies, including India, but the measure remains only a proposal and is not yet final.
    June 3, 2026
    Show AI Summary
    Online re-evaluation and verification portal opens with Aadhaar-based login, digital payment and strict submission limits.
    CBSE has opened an online portal for verification of issues in scanned answer books and re-evaluation of answers, available only to students who have obtained scanned copies of evaluated answer books. Applications must be filed online within the prescribed window using Aadhaar-based login, with payment completed digitally through designated gateways. The board permits only one application each for verification and re-evaluation, and details become locked once submitted for payment.
    June 3, 2026
    Show AI Summary
    Digital Public Infrastructure drives Protean eGov Technologies' appointment of Ajay Rajan as Managing Director and Chief Executive Officer.
    Protean eGov Technologies Ltd. appointed Mr. Ajay Rajan as Managing Director and Chief Executive Officer, effective 1 June 2026, to support its next phase of growth. The appointment aligns with the company's focus on Digital Public Infrastructure, AI-enabled enterprise solutions, and international expansion. Mr. Rajan's background spans banking, fintech, and digital transformation, and the company says his leadership will reinforce governance, execution, and sustainable value creation.
    June 3, 2026
    Show AI Summary
    Forced labour trade duties pressure rupee as proposed US action and broader risk sentiment weigh on markets.
    The rupee weakened in early trade against the US dollar amid concern over a proposed US Trade Representative move to impose additional duties on India and other countries for alleged failures to prevent imports of goods produced with forced labour. India denied the allegations and said the issue should be addressed through ongoing bilateral trade negotiations. The currency was also pressured by broader global risk factors, including geopolitical tensions, a firmer dollar, higher crude oil prices and weakness in domestic equity markets.
    June 3, 2026
    Show AI Summary
    Forced labour import prohibitions drive proposed additional duties and a differentiated tariff framework for affected economies.
    The US Trade Representative has proposed additional duties on 54 countries, including India, over alleged failures to prohibit imports made with forced labour. The proposal follows investigations into 60 countries and applies a differentiated tariff framework: 10 per cent additional duty for economies with existing or committed forced-labour import prohibitions, and 12.5 per cent for all other economies. A textile mechanism would permit a specified volume of apparel and textile imports from certain economies at a reduced tariff rate.
    June 2, 2026
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    Trade pact implementation faces delays as India and the UK address steel safeguards and carbon border measures.
    India and the UK discussed implementation issues delaying rollout of CETA, with particular concern over Britain's steel safeguard restrictions and proposed carbon border adjustment mechanism (CBAM). The talks focused on identifying the remaining sticking points and examining pathways for effective implementation of the trade pact. Britain's limits on tariff-free steel imports and the introduction of CBAM from 2027 are central to the market access concerns.
    June 2, 2026
    Show AI Summary
    International developments span parliamentary disruptions, anti-corruption action, UN recognition, and immigration enforcement across several countries.
    Parliamentary proceedings in Nepal were adjourned after protests over border remarks, while other reported developments covered defence trade, anti-corruption action, UN appointments, peacekeeping recognition, online testimony in a disappearance case, condemnation of Hinduphobia and temple attacks, and immigration enforcement against Indian nationals working illegally as truck drivers.
    June 2, 2026
    Show AI Summary
    Rupee depreciation against the dollar reflects oil price pressure, dollar strength and foreign fund outflows amid RBI policy watch.
    The rupee depreciated against the US dollar amid higher global crude oil prices, a firm dollar, safe-haven inflows and foreign fund outflows. Market participants expected continued pressure from geopolitical tensions and elevated oil prices, while noting that peace talks could moderate the decline. Investors also watched the Reserve Bank of India monetary policy meeting for cues on currency movement, alongside broader market and macroeconomic developments.
    June 2, 2026
    Show AI Summary
    State GST collections in Haryana lead the country, driven by strong revenue growth and efficient tax administration.
    Haryana reported the highest growth rate among states in state GST collections for May 2026, with a year-on-year increase of 22 per cent against the national average of 6 per cent. The state also ranked first in cumulative growth in state GST revenue for the first two months of 2026-27, with growth of 40 per cent over the comparable period of the previous financial year. The statement attributed the sustained increase to the growing economy of the state and efficient tax administration.

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      Maharashtra cabinet clears administrative restructuring; 10 new departments to be added

      June 9, 2026

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      Mumbai, Jun 9 (PTI) The Maharashtra cabinet on Tuesday approved a major restructuring of the state administration, increasing the number of departments from 33 to 43 to improve efficiency and speed up decision‑making, officials said.

      The decision involves the reorganisation of 13 ministerial departments, under which sub-divisions currently functioning within the same department will be converted into independent departments.

      The state government, however, clarified that no new posts will be created as part of the restructuring exercise. Instead, functions and responsibilities will be redistributed to enable departments to function more effectively and facilitate quicker decision-making.

      In another key decision, the cabinet approved amendments to the Maharashtra Public Universities Act, 2016, to streamline the process of granting final approval to new colleges as well as proposals for expansion through new faculties, courses, subjects and additional divisions.

      The cabinet also cleared amendments to the Maharashtra Goods and Services Tax Act, 2017, to align it with provisions of the Central GST Act, 2017. It further approved changes to the Maharashtra Goods and Services Tax (Amendment) Bill, 2026.

      The state government additionally approved an ordinance and amendments to the Maharashtra Industrial Development Act, 1961, to enhance the borrowing powers of the Maharashtra Industrial Development Corporation (MIDC), enabling it to raise additional funds for industrial development activities.

      The decisions were taken at a cabinet meeting chaired by Chief Minister Devendra Fadnavis and were announced by the CM's secretariat. PTI MR GK KRK

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