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    Court formally frames charges against Jacqueline, Sukesh in money laundering case
    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
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June 3, 2026
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Money laundering and organised crime charges were framed amid allegations of impersonation, extortion, conspiracy and concealment of proceeds of crime.
Charges were formally framed in a money laundering prosecution and in a separate organised crime case arising from allegations of impersonation, extortion, cheating, criminal intimidation and conspiracy. The accused, including Jacqueline Fernandez and Sukesh Chandrashekar, appeared in court and pleaded not guilty, claiming trial. The proceedings also covered charges under the Prevention of Money Laundering Act and, in the separate matter, offences under the IT Act and the Maharashtra Control of Organised Crime Act for alleged organised criminal activity and possession of unaccountable wealth.
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
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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
Show AI Summary
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
Show AI Summary
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
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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
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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.

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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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