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    Govt hikes windfall tax on diesel, ATF exports
    ED interrogates TMC MP Abhishek for over 11 hours in primary school jobs scam case
    Electricity tariffs in Chhattisgarh hiked by 6.23 per cent, Congress calls it 'loot'
    India's engineering exports jump 24 pc to USD 12.31bn in May: EEPC
    Homebuyers 'fraud' case: ED attaches fresh assets worth Rs 503 crore of Raheja Developers
    Gujarat govt unveils new industrial policy, targets Rs 10 lakh crore investment over 5 years
    Rupee rises 60 paise to settle at 94.58 against US dollar
    Exports rise to 6-month high of 18 pc in May; trade deficit widens to USD 28.21 bn
    Rs 500-cr crypto fraud: ED carries out raids, arrests one for laundering investor funds
    India and Slovakia elevate ties to comprehensive partnership, sign 11 pacts
    Soybean meal exports fall 63 percent in May due to high prices, West Asia crisis
    India records USD 4.7 bn current account surplus in April: RBI data
    India, Slovakia upgrade ties to comprehensive partnership; ink 11 pacts
    The cumulative exports (merchandise & services) during April-May 2026-27 is estimated at US$ 162.69 Billion, as compared to US$ 141.89 Billion in Apri...
    IICA Hosts National Conference on “Redefining India’s Restructuring Ecosystem” to Mark a Decade of IBC and Celebrates Convocation of PGIP 6th Ba...
    BCBA to Host India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai
    Sasken Technologies-Backed Team Clinches First-Ever Gold for India at European Girls Olympiad in Informatics 2026
    India aims to reach 155 GW of installed wind energy capacity by 2035: Union minister
    Exports register 6-month high growth of 18 pc in May; trade deficit widens to USD 28.21 bn
    Horizon: Pioneering the Future of Elevated Residential Hospitality
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    June 15, 2026
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    Windfall gains tax on petroleum exports is revised to curb export incentives and protect domestic fuel availability.
    Windfall gains tax on exports of petroleum products has been revised for the fortnight beginning 16 June 2026, with the special additional excise duty on diesel exports increased and the duty on aviation turbine fuel exports also raised. The levy on petrol exports remains unchanged, and the existing duty rates on petrol and diesel cleared for domestic consumption are unchanged. The stated purpose of the windfall tax is to support domestic availability of petroleum products by discouraging exports when international crude prices and geopolitical conditions create a price advantage for exporters.
    June 15, 2026
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    Money laundering probe over teacher recruitment irregularities focuses on fund trail, layered transactions, and intermediary entities.
    Enforcement Directorate questioned a Trinamool Congress MP for over 11 hours in a money laundering probe linked to alleged irregularities in primary teacher recruitment. The agency focused on the money trail, financial documents, digital records, bank records and communication data to identify who handled the funds, how they moved through accounts and entities, and whether the transactions were layered to conceal their origin. The examination also covered intermediaries, beneficiary entities and inconsistencies between earlier submissions and recovered materials.
    June 15, 2026
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    Electricity tariff revision retains consumer concessions while raising rates across categories and adjusting rebates and surcharge terms.
    Electricity tariffs in Chhattisgarh were revised upward by an average of 6.23 per cent across consumer categories from 1 July 2026, with the regulator stating that the revised tariff was approved to meet the estimated revenue requirement for the year. Several concessional and protective measures were continued for women's self-help groups, hospitals, tribal regions, agricultural pump connections, and other specified consumer classes, while the advance payment rebate and delayed payment surcharge were also revised.
    June 15, 2026
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    Engineering exports growth reflects resilience, trade facilitation and product diversification amid external market disruptions.
    India's engineering goods exports showed strong growth in May 2026 and during April-May 2026-27, despite trade disruptions linked to the West Asia conflict. The sector's resilience was attributed to adaptability, government support and trade facilitation measures, while continued momentum was said to require focus on market conditions and product diversification.
    June 15, 2026
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    Money-laundering probe over homebuyer fraud leads to provisional attachment of developer and promoter properties.
    Provisional attachment under the Prevention of Money Laundering Act was issued in a money-laundering investigation concerning alleged fraud against homebuyers by a real estate developer and its promoter. The attachment covered immovable properties of the company, the promoter, and family members, following multiple FIRs based on complaints by homebuyers. The investigation concerned funds collected from homebuyers for residential projects and alleged diversion of those funds to purposes other than development and completion of the promised projects.
    June 15, 2026
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    Industrial policy incentives drive manufacturing, innovation, start-up support and green growth under Gujarat's five-year development roadmap.
    Gujarat's new industrial policy sets a five-year roadmap to attract investment, strengthen advanced manufacturing and innovation, and support inclusive industrial growth through differentiated incentives. It provides a flexible incentive framework for MSMEs, large projects, thrust sectors, start-ups and R&D centres, while also encouraging industrial relocation, green production and infrastructure support for housing, skill centres and modern industrial parks.
    June 15, 2026
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    Rupee gains on lower crude prices and weaker dollar as improved global risk sentiment supports the currency.
    The rupee strengthened against the US dollar amid improved global risk sentiment following a reported US-Iran deal, a sharp fall in Brent crude prices, a weaker dollar and lower US Treasury yields. Market participants linked the currency move to reduced oil-import pressure, easing inflation concerns and a revival in domestic equity markets.
    June 15, 2026
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    Trade deficit widens as exports hit a six-month high, with petroleum imports, West Asia tensions and rupee depreciation shaping flows.
    India's merchandise exports rose to a six-month high in May, while the trade deficit widened as import growth outpaced export growth, largely due to higher petroleum and gold imports and elevated crude prices. Export gains were led by electronic goods, petroleum products, engineering items and pharmaceuticals, while several sectors recorded negative growth. The report notes that exports to West Asia remained close to the previous year's level despite regional disruptions, and that easing geopolitical tensions and any reopening of the Strait of Hormuz would be positive for trade, shipping, freight stability and supply chains.
    June 15, 2026
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    Money laundering probe targets cryptocurrency Ponzi scheme using layered transfers, token manipulation and concealed property purchases.
    Money laundering investigation under the Prevention of Money Laundering Act arose from an alleged cryptocurrency-based multi-level marketing scheme said to have induced public investment in Korvio Coin through assured returns, promotional events, token-value manipulation and a Ponzi-style repayment structure. The alleged operation used online platforms and foreign servers, with funds routed through bank accounts, fictitious firms and intermediaries, and a portion converted into cryptocurrency to obscure the trail.
    June 15, 2026
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    Comprehensive Partnership between India and Slovakia expands trade, mobility, defence and counterterrorism cooperation.
    India and Slovakia elevated their bilateral relationship to a Comprehensive Partnership and agreed to deepen cooperation in migration, digital technology, defence, higher education, quantum communication, energy, and labour mobility. They also supported the early implementation of the India-European Union free trade agreement, welcomed a memorandum on labour migration, and agreed to work towards an early Social Security Agreement. The two sides further reaffirmed support for multilateral reform and strengthened counterterrorism cooperation.
    June 15, 2026
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    Soybean meal exports weakened as high prices and the West Asia crisis disrupted shipments to key markets.
    Soybean meal exports declined sharply in May because Indian prices remained higher than those in major exporting countries and the West Asia crisis disrupted shipments. The reduction was attributed to weakened export competitiveness and the halt in supplies to Iran and the UAE, with exports to Kuwait and Oman also severely affected.
    June 15, 2026
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    Current account surplus rises on stronger services exports and transfer receipts, even as capital account shows net outflow.
    India recorded a current account surplus in April, driven by higher services exports and increased net transfer receipts, even though the merchandise trade deficit remained elevated and imports exceeded exports. Preliminary balance of payments data showed a wider import bill, stronger export receipts, higher net services receipts, and a rise in net transfers compared with the corresponding month of the previous year. On the capital account, the month saw a net outflow, with foreign direct investment showing an increase and foreign portfolio investment recording a net outflow. The overall balance of payments consequently reflected a deficit for the month, while the preceding January-March quarter had shown a current account surplus measured as a share of GDP compared with the year-ago quarter.
    June 15, 2026
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    Comprehensive Partnership deepens India-Slovakia cooperation across trade, defence, labour migration and energy security.
    India and Slovakia elevated their bilateral ties to a Comprehensive Partnership and finalised agreements covering labour migration, defence, digital technologies, higher education and quantum communication. The talks also focused on energy security, strategic cooperation and support for the earliest implementation of the India-European Union free trade agreement. Both sides endorsed orderly, safe and legal mobility of skilled professionals and agreed to work towards an early Social Security Agreement to support welfare and social protection for mobile workers.
    June 15, 2026
    Show AI Summary
    India's external trade growth trends show higher exports, rising imports, and expanding services surplus in May 2026.
    India's external trade for May 2026 and April-May 2026-27 showed growth in merchandise and services exports, but imports also rose and trade deficits persisted. Total exports were estimated at US$ 81.96 billion in May 2026 and US$ 162.69 billion for April-May 2026-27, while imports were estimated at US$ 92.47 billion and US$ 182.83 billion respectively. Services exports, non-petroleum exports, and several commodity categories recorded positive growth, with petroleum products, engineering goods, chemicals, electronic goods, and gems and jewellery identified as major drivers of merchandise export growth.
    June 15, 2026
    Show AI Summary
    Insolvency and Bankruptcy Code reform advances focus on cross-border insolvency, creditor-led resolution, and technology-driven restructuring.
    A national conference on India's restructuring ecosystem marked a decade of the Insolvency and Bankruptcy Code and highlighted institutional capacity building through the convocation of insolvency professionals. The discussions stressed coordinated judicial, regulatory and institutional action for timely and value-maximising resolution, with cross-border insolvency, the UNCITRAL Model Law, the Creditor-Initiated Insolvency Resolution Process, pre-packaged insolvency, ADR, distressed asset markets, rescue financing and technology-driven reforms identified as key areas of future development.
    June 15, 2026
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    Logistics modernisation drives the India Logistics Conclave 2026, spotlighting digital customs, infrastructure, and trade facilitation.
    The Brihanmumbai Custom Brokers' Association will host the India Logistics Conclave 2026 in Mumbai on 17 June 2026 as its second flagship policy forum, bringing together government, ports, customs and industry leadership under the theme of logistics-led national development. The programme is positioned as a dialogue on India's trade-and-logistics ecosystem, including the Viksit Bharat 2047 roadmap, digital customs, geopolitical realignments, infrastructure delivery and the evolving role of licensed intermediaries. The conclave presents customs brokers and freight forwarders as front-line partners in trade facilitation and focuses on trade policy, infrastructure and logistics modernisation.
    June 15, 2026
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    Algorithmic excellence and STEM inclusion drive India's first-ever gold at the European Girls Olympiad in Informatics.
    Sasken Technologies announced support for the Indian team that won India's first-ever gold medal at the European Girls Olympiad in Informatics 2026. The release links the achievement to the Indian Computing Olympiad ecosystem and highlights long-term support for algorithmic excellence, foundational computing skills, deep-tech talent, and the participation of young women in STEM.
    June 15, 2026
    Show AI Summary
    Wind energy capacity expansion and supply chain transparency drive India's domestic manufacturing and export competitiveness.
    India's wind energy sector is being positioned for rapid capacity expansion, with the stated target of reaching 100 GW of installed wind capacity by 2030 and 155 GW by 2035. The sector has already crossed 56.1 GW of installed capacity and added a record 6.1 GW in FY 2025-26, while stakeholders have identified more than 100 GW as necessary for an affordable and sustainable energy transition. The industry is also described as supporting the broader Atmanirbhar Bharat objective through a resilient domestic supply chain and increasing manufacturing capability.
    June 15, 2026
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    Exports and imports data show higher trade deficit amid strong export growth and rising petroleum-driven imports.
    Exports rose to a six-month high in May, while imports also increased, causing the trade deficit to widen on a year-on-year basis even though it eased slightly from April. Export growth was driven by electronic goods, petroleum products, engineering items and pharmaceuticals. For April-May 2026-27, exports and imports both recorded double-digit growth, leaving a larger cumulative trade deficit. Gold and crude oil imports rose sharply during the period, while exports to West Asia remained close to the previous year's level despite regional disruption.
    June 15, 2026
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    Luxury residential hospitality redefined through a private rooftop restobar, resident-exclusive experiences, and integrated lifestyle ecosystems.
    Luxury residential development is being repositioned around experience-led amenities rather than apartment size alone, with Horizon introduced as a private rooftop restobar at the crown of Raheja Imperia-I in Worli. The concept is presented as a resident-exclusive social destination on the 60th floor, designed to enhance privacy, prestige and lifestyle value within a residential address. The project is also described as part of a broader portfolio strategy centred on integrated lifestyle ecosystems and collaboration with a hospitality operator.

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      Customs & Trade

      Electricity tariffs in Chhattisgarh hiked by 6.23 per cent, Congress calls it 'loot'

      June 15, 2026

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      Raipur, Jun 15 (PTI) The Chhattisgarh State Electricity Regulatory Commission (CSERC) on Monday approved an average increase of 6.23 per cent in electricity tariffs across all consumer categories from July 1, while retaining several concessions for women's self-help groups, hospitals, and tribal regions.

      The opposition Congress criticised the move, accusing the BJP government of "looting" consumers.

      The hike is significantly lower than the 24 per cent increase sought by the state power distribution company for the 2026-27 financial year, an official statement said.

      The Commission said the revised tariff was approved to meet the estimated revenue requirement for the year.

      While the distribution company had proposed an average cost of supply of Rs 8.40 per unit, the regulator approved Rs 7.13 per unit after detailed analysis. The average billing rate for 2026-27 has been estimated at Rs 6.71 per unit, which is 42 paise lower than the approved average cost of supply, it said.

      Electricity tariffs for domestic consumers have been increased by 30-50 paise per unit, impacting around 60 lakh consumers in the state.

      Rates for non-domestic consumers have been raised by 20-40 paise per unit, while tariffs for agricultural pump connections have gone up by 40 paise per unit.

      The Commission retained a 10 per cent concession in energy charges for industrial and commercial activities operated by registered women's self-help groups.

      Similar concessions have been retained for hospitals, nursing homes and diagnostic centres functioning in rural areas and in the Bastar and Surguja tribal development authority regions, it said.

      A 25 per cent rebate on energy charges for mobile towers located in the Bastar and Surguja tribal authority regions has been continued. To encourage electric mobility, the tariff for electric vehicle charging stations has been fixed at Rs 7.13 per unit, equivalent to the approved average cost of supply.

      The energy charge rebate for non-subsidised agricultural pump connections has been increased from 30 per cent to 40 per cent. Farmers will continue to be allowed to use up to 100 watts of power for lights and fans near agricultural pump installations, according to the statement.

      The Commission also continued a 10 per cent concession in energy charges for poha and puffed rice mills under the LV-5 category.

      The advance payment rebate has been reduced from 1.25 per cent to 0.75 per cent and will now be available only to consumers sourcing their entire electricity requirement from the distribution company.

      The delayed payment surcharge has been revised from 1.5 per cent per month to 0.04 per cent per day, it said.

      State Power Distribution Company Managing Director Bhim Singh Kanwar said the Chhattisgarh State Electricity Regulatory Commission, while announcing electricity rates for the year 2026-27, has kept many provisions providing relief to consumers intact.

      He stated that beneficiaries of the M-URJA (Mukhyamantri Urja Rahat Jan Abhiyan) scheme would continue to receive relief, and the impact of the tariff hike on low-income households would remain limited.

      Consumers using up to 400 units of electricity and availing the half-bill benefit on 200 units would see an average increase of only 15-20 paise per unit, he said.

      Kanwar further said the tariff increase would not affect farmers because the additional burden on agricultural pump connections would be borne by the state government through subsidies.

      He also claimed that power tariffs in Chhattisgarh remain lower than those in neighbouring states such as Jharkhand, Madhya Pradesh and Maharashtra.

      Student hostels, both government-run and private, located in the Bastar and Surguja tribal development authority regions, would now be billed under the domestic category instead of the commercial category, providing additional relief, he said.

      Consumers in domestic and non-domestic categories with sanctioned loads above 10 kilowatts will also receive a rebate of 20 paise per unit on electricity consumed during off-peak hours between 9 am and 5 pm, he added.

      State Congress communication department chairman Sushil Anand Shukla alleged that the government's power department was "looting consumers in the name of electricity bills" and noted that this was the fifth tariff increase since the BJP came to power (in 2023).

      "The government has increased rates for domestic, commercial and agricultural consumers. People have already been struggling with exorbitant electricity bills, and instead of providing relief, the government has increased tariffs," Shukla said.

      He alleged that electricity bills have risen three to four times in recent months and claimed that consumers were receiving different online and offline bills.

      He also accused the power utility of increasing contracted load capacities without consumer consent and imposing penalties based on higher loads linked to smart meter readings.

      More than 45 lakh consumers received electricity bills in June that were nearly three times higher than normal, he claimed.

      "People are bearing the brunt of inflated power bills and power cuts. The government is unable to provide round-the-clock electricity and is simultaneously sending arbitrary bills to consumers," he alleged. PTI TKP NSK

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