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    Monthly review of accounts of Government of India upto May 2026 (FY 2026-27)
    Government extends full customs duty exemption on critical petrochemical products in view of ongoing conflict in West Asia till 15th July 2026
    DRI busts trans-border gold smuggling syndicate; seizes 15 kg smuggled gold; four arrested
    US-Iran thaw to provide tailwinds for growth: RBI
    Domestic financial system remains resilient despite external shocks, says RBI report
    Government extends last date for filing appeals before the GST Appellate Tribunal to 31st July 2026
    Centre extends CBDT Chairman Ravi Agrawal's tenure by 6 months
    How Delta Exchange India Makes Crypto Trading Simple and Affordable
    Telangana govt considering incentives to boost rice exports: Minister Uttam Kumar Reddy
    Taxpayers can file appeal before GSTAT till July 31: FinMin
    Aastha Spintex IPO Opens; SEBI-Registered Research Analysts Cite Capacity Expansion and Financial Growth in 'Subscribe' Recommendations
    China's factory activity expands in June with boost from tech exports
    India Marks Largest-Ever Participation at North America’s Summer Fancy Food Show 2026 with Inauguration of India Pavilion
    MPEDA to Organise Second National Seafood Skill Olympiad During Seafood Expo Bharat 2026
    Cabinet approves additional investment commitment of Rs. 30,000 crore in National Investment and Infrastructure Fund (NIIF) to accelerate infrastructu...
    HDFC board picks up ex-Finance Secretary Rajiv Kumar to steer bank
    Maharashtra farm loan waiver roll out from July 5; no eligible tiller to miss out: Govt
    Tariff of 'Vanilla Solar' project in MP possibly lowest in world: Pralhad Joshi
    HDFC Bank board picks up ex-Finance Secretary Rajiv Kumar to steer bank
    Rupee falls 6 paise to close at 94.51 against US dollar
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    June 30, 2026
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    Government of India monthly accounts show receipts, tax devolution, and expenditure composition up to May 2026.
    Government of India's monthly accounts up to May 2026 show consolidated receipts of Rs.7,18,669 crore, including net tax revenue, non-tax revenue, and non-debt capital receipts, with Rs.1,75,557 crore transferred to State Governments as tax devolution. Total expenditure stood at Rs.8,81,023 crore, covering revenue and capital account spending, including interest payments and major subsidies.
    June 30, 2026
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    Customs duty exemption on critical petrochemical imports extended to support supply chains and domestic availability.
    Full Customs Duty exemption on imports of critical petrochemical products has been extended until 15 July 2026 as temporary and targeted relief in view of the conflict in West Asia and disruptions in global supply chains. The extension is intended to ensure sufficient availability of petrochemicals in the domestic market, with the list of covered products unchanged from the earlier notification. The exemption is expected to support sectors dependent on petrochemical feedstock and intermediates and provide relief to consumers of final products.
    June 30, 2026
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    Trans-border gold smuggling and cryptocurrency financing exposed after concealed foreign-origin gold was recovered from a courier consignment.
    Trans-border gold smuggling operation involving foreign-origin gold concealed in an international courier consignment declared as "worn gear" was intercepted by the Directorate of Revenue Intelligence. Examination of the consignment led to recovery of foreign-origin smuggled gold hidden inside gear parts, and subsequent searches at the residence of the intended recipient and the alleged mastermind yielded additional concealed gold pieces. Four persons, including the alleged mastermind and a foreign national, were arrested, and preliminary investigation indicated use of cryptocurrency to finance the smuggling network.
    June 30, 2026
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    Economic growth resilience improves as supply chain normalisation, capital inflows and policy support offset external shocks and inflation pressures.
    The interim peace deal between Iran and the US is expected to support Indian economic growth by easing global turbulence and helping normalise supply chains. High-frequency indicators suggest firm activity, while government support to MSMEs and exports may cushion external shocks. Elevated commodity prices, a weak monsoon and limited fuel price pass-through could pressure inflation, the fiscal deficit and domestic growth, although external sector resilience and stronger capital inflows may mitigate funding constraints.
    June 30, 2026
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    Financial system resilience strengthened by capital buffers, improving asset quality, and stress-tested banking stability amid AI cyber threats.
    Domestic financial system remains resilient, supported by strong bank and non-bank balance sheets, with scheduled commercial banks described as safe and sound and stress tests showing capital ratios above regulatory thresholds even under adverse scenarios. Non-banking financial companies are also financially sound, while AI-enabled cyberattacks are identified as the most important near-term cyber threat.
    June 30, 2026
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    GST appeal filing deadline extended for tribunal appeals after portal pressure and stakeholder representations.
    The Government has extended the due date for filing appeals before the Goods and Services Tax Appellate Tribunal under Section 112(1) read with Section 112(3) to 31.07.2026. An earlier notification had fixed 30.06.2026 as the last date for such filings. The extension was issued in response to representations from stakeholders pointing to technical difficulties caused by a surge in filings on the GSTAT portal.
    June 30, 2026
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    CBDT chairmanship tenure extension on contract basis under re-employment terms and relaxed recruitment rules.
    The Union government extended the tenure of the CBDT Chairman, Ravi Agrawal, by six months on a contract basis from 01.07.2026 or until further orders, whichever is earlier. The extension is on the terms and conditions applicable to re-employed central government officers, in relaxation of the Recruitment Rules, for his continued service as Chairman of the Central Board of Direct Taxes.
    June 30, 2026
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    INR-settled crypto derivatives trading stands out with low fees, tax treatment differences, and beginner-friendly platform features.
    Delta Exchange India is presented as an INR-focused crypto trading platform designed to simplify futures, options, and tracker trading through low fees, full rupee settlement, and features for beginners and advanced traders. The platform integrates with UPI and IMPS, offers a demo account, strategy builder, basket orders, API access, and an algo marketplace, while operating in line with Indian regulations and using security measures such as two-factor authentication and multi-signature wallets. It also states that INR-settled derivatives are treated differently from direct crypto purchases under Indian tax rules and are not subject to the 1% TDS or 30% flat tax applied to direct crypto transactions.
    June 30, 2026
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    Rice export incentives aim to open overseas markets, support quality-compliant industries, and improve returns for farmers and millers.
    Telangana is considering incentives and a dedicated policy framework to boost rice exports and help rice producers access overseas markets. Government support would extend to industries meeting export quality standards, including speedy approvals and necessary clearances, along with support for value-added rice products to improve returns for farmers and rice millers.
    June 30, 2026
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    GSTAT appeal filing deadline extended to July 31 amid portal congestion and technical difficulties for taxpayers.
    The government extended the due date for filing appeals before the Goods and Services Tax Appellate Tribunal (GSTAT) to July 31, 2026, after stakeholders reported technical difficulties caused by heavy traffic on the GSTAT portal. Taxpayers were advised to file well in advance rather than wait until the deadline, to reduce the risk of portal congestion and technical disruption during the transition to the newly operational tribunal framework.
    June 30, 2026
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    IPO subscription and expansion strategy drive research analysts' Subscribe view for Aastha Spintex amid textile sector growth.
    Aastha Spintex Limited has opened a fresh public issue for subscription, with the proposed listing of its shares subject to completion of the issue process and regulatory approvals. The issue proceeds are stated to be earmarked mainly for acquisition of Falcon Yarns, working capital needs, and general corporate purposes. SEBI-registered research analysts have covered the issue and assigned a Subscribe view for investors with a medium- to long-term horizon, citing expansion plans, improving financial performance, operational efficiencies, and exposure to the textile sector.
    June 30, 2026
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    Manufacturing growth in China gains pace as AI hardware exports lift factory activity and external demand remains key.
    China's manufacturing sector expanded in June as the purchasing managers' index moved above the neutral threshold, supported by stronger new orders, production and robust exports driven by demand for artificial intelligence hardware. The report said external demand remained the main engine of growth, while domestic consumption stayed sluggish amid continued caution after the property sector downturn.
    June 30, 2026
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    Indian food exports gain global showcase as the India Pavilion highlights premium products, mangoes and basmati at Summer Fancy Food 2026.
    India's largest-ever participation at North America's Summer Fancy Food Show 2026 was showcased through the inauguration of the India Pavilion, jointly presented by APEDA and ITPO. The pavilion brought together Indian food brands, exporters and innovators across categories including basmati rice, spices, ready-to-eat foods, beverages, organic products, frozen foods, snacks and value-added agricultural products, reflecting rising global demand for Indian food products and the strength of India's processed food sector.
    June 30, 2026
    Show AI Summary
    Seafood skill development advances through MPEDA's National Seafood Skill Olympiad and value-added export training programmes.
    MPEDA will organise the second National Seafood Skill Olympiad during Seafood Expo Bharat 2026 to promote innovation, quality standards, skill recognition and value addition in marine exports. As preparation, MPEDA conducted 50 nationwide Seafood Value Addition Training Programmes for more than 2,500 workers and professionals, followed by preliminary, State-Level and Regional Skill Olympiads to shortlist finalists for the national finale. Seafood Expo Bharat 2026 will also provide a platform for business meetings, technical sessions and industry exchange across the seafood value chain.
    June 30, 2026
    Show AI Summary
    Infrastructure financing commitment expands NIIF support to attract institutional capital and fund strategic national projects.
    Additional Government commitment of investment capital to the National Investment and Infrastructure Fund has been approved to expand infrastructure financing and attract institutional participation into nationally important sectors. The commitment supports a second infrastructure-focused fund, successor fund strategies and wider investment deployment across transportation, energy, digital infrastructure, urban infrastructure and e-mobility, with the broader aim of catalysing private capital and strengthening public-private partnership frameworks.
    June 29, 2026
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    Bank board appointment and governance profile highlight strengthened banking oversight, depositor protection, and credit discipline measures.
    HDFC Bank approved the appointment of former Finance Secretary Rajiv Kumar as an Independent Director for four years from 30 June 2026 and, subject to Reserve Bank of India approval, as Part-time Chairman for three years with remuneration to be determined from the date approved by the central bank. The bank also recorded that he is not related to any other director or key managerial personnel. His profile further noted banking clean-up measures, NPA recognition and provisioning, action against shell companies and unregulated deposit schemes, and strengthened monitoring of large exposures and fraud risks.
    June 29, 2026
    Show AI Summary
    Farm loan waiver rollout begins with mandatory Agristack Farmer ID and assured coverage for eligible cultivators.
    Farm loan waiver benefits under the Maharashtra government's Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana are scheduled to begin disbursement from July 5, after the scheme's financial allocation is completed through supplementary demands and receives the required approval. The scheme provides loan waiver relief up to the prescribed ceiling, with the government assuring that no eligible agriculturist will be excluded from the benefit. The Agristack Farmer ID remains a mandatory eligibility requirement.
    June 29, 2026
    Show AI Summary
    Renewable energy expansion gains momentum as new solar parks and industrial projects support cleaner power and investment.
    Renewable energy development in Madhya Pradesh was highlighted through the inauguration of two solar power projects with a combined capacity of 950 MW, including a 500 MW solar park in Neemuch and a 450 MW solar park in Shajapur. The Neemuch Solar Park was described as a vanilla solar project, meaning a solar facility using only solar panels without battery storage, and its tariff was said to be possibly among the lowest globally for such projects. Officials stated that the Neemuch project would supply clean electricity to Indian Railways and the state grid.
    June 29, 2026
    Show AI Summary
    Banking governance and financial-sector reform shape Rajiv Kumar's appointment as HDFC Bank's new chairman
    HDFC Bank appointed Rajiv Kumar as an Independent Director for four years and, subject to Reserve Bank of India approval, as Part-time Chairman for three years. The accompanying profile credited him with banking-sector clean-up measures, including recognition and provisioning of non-performing assets, borrower accountability under the Insolvency and Bankruptcy Code framework, and the 4R strategy of Recognition, Resolution, Recapitalisation and Reforms. It also referred to action against shell companies, unregulated deposit schemes, illicit financial practices, strengthened oversight of cooperative banks, and technology-based risk controls for large exposures.
    June 29, 2026
    Show AI Summary
    Rupee weakness reflects geopolitical tensions, dollar strength, and shifting crude oil trends in the foreign exchange market.
    The rupee weakened against the US dollar after giving up early gains, with renewed geopolitical tensions reducing investor risk appetite and weighing on sentiment in the foreign exchange market. Traders said supportive crude oil prices and improved foreign inflows initially helped the currency, but broader dollar strength kept pressure on the exchange rate. Market commentary also noted that lower crude prices and easing inflation concerns could support the rupee at weaker levels.

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      Customs, DGFT & SEZ

      National Traders’ Welfare Board Holds 10th Meeting in Hybrid Mode, Strengthening Digital Governance and Stakeholder Participation

      June 24, 2026

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      NTWB Discusses Trade Facilitation Measures; DigiDukaan Set for Expansion Across Major Cities

      Board Focuses on Enhancing Export Competitiveness and Strengthening Stakeholder Engagement Mechanisms

      The 10th Meeting of the National Traders’ Welfare Board (NTWB) was held today in New Delhi, in hybrid mode. In line with the vision of the Government for technology-driven governance, optimum utilisation of public resources and minimisation of avoidable travel and expenditure, the meeting enabled participation of Members from across the country through both physical and virtual modes. The hybrid format ensured wider stakeholder participation and demonstrated the success of the Digital India initiative in strengthening governance through digital connectivity and citizen-centric innovation.

      The Board reviewed various trader welfare and trade facilitation initiatives being implemented across the country. Members were apprised of the recently launched Rajasthan Trade Promotion Policy, which includes provisions relating to trade credit support, insurance assistance and promotion of digital commerce. The need to strengthen awareness and outreach regarding Central and State Government schemes for traders was also emphasised.

      A detailed presentation was made on DigiDukaan, a digital commerce initiative aimed at enabling small retailers and kirana stores to participate effectively in the digital economy. The Board noted the successful launch of DigiDukaan in Jaipur on 19 June 2026 by Rajasthan Chief Minister Shri Bhajan Lal Sharma and appreciated the encouraging response received from traders. Plans for expansion to other major cities, including Mumbai and Bengaluru, followed by a nationwide rollout, were also discussed.

      The Board was informed about ongoing efforts to strengthen coordination among trade associations, chambers of commerce and trader organisations across the country and to ensure effective representation of traders’ concerns before policy-making authorities. The Chairperson informed Members that 92 nationwide weekly virtual conferences and stakeholder interactions have been conducted so far to facilitate regular engagement between traders and officials from various Ministries and Departments.

      During the deliberations, Members discussed a wide range of issues concerning traders, retailers, manufacturers, exporters and service providers. Key issues included GST rationalisation, simplification of compliance procedures, one-time settlement mechanisms for legacy business liabilities, export promotion measures, logistics and port infrastructure, plant quarantine and import facilitation, digital commerce adoption, ONDC integration, access to affordable credit, banking-related issues, merchant transaction charges, pension and social security measures for traders, and support for women entrepreneurs.

      The Board also deliberated on issues relating to food safety compliance, ease of obtaining licences and registrations, strengthening of State Traders’ Welfare Boards, concerns arising from quick commerce platforms, promotion of local trade ecosystems, simplification of appellate and dispute resolution mechanisms, facilitation of MSME and service exports, and improved Centre-State coordination for effective implementation of trader welfare initiatives.

      Special emphasis was laid on enhancing export participation by traders and MSMEs, increasing awareness regarding export opportunities, strengthening institutional support mechanisms and promoting India’s emergence as a globally competitive trading nation.

      The Board further discussed the need for thematic committees and focused working groups to examine sector-specific issues and provide structured recommendations for policy intervention. Members agreed that continued engagement with stakeholders across sectors and regions would strengthen the effectiveness of the Board’s initiatives and facilitate timely resolution of issues affecting the trading community.

      The meeting was chaired by Chairperson of NTWB Shri Sunil J. Singhi.

      At the outset, the Board adopted a Resolution congratulating  Prime Minister Shri Narendra Modi on becoming the longest-serving elected Prime Minister in India’s history. The Resolution acknowledged his continuous service of over twelve years as Head of Government and recognised his contribution towards good governance, inclusive development, economic reforms, national security and the vision of Viksit Bharat. The Board expressed confidence that under his leadership, India will continue its journey towards becoming a self-reliant, prosperous and developed nation.

      Addressing the meeting, Chairperson Shri Sunil J. Singhi highlighted the transformative reforms undertaken during the past decade, including GST reforms, digital governance initiatives, financial inclusion through the JAM (Jan Dhan-Aadhaar-Mobile) Trinity, Direct Benefit Transfer (DBT), Ease of Doing Business measures, and initiatives aimed at empowering small businesses, traders and entrepreneurs. He noted that these reforms have significantly strengthened India’s economic ecosystem and expanded opportunities for trade and enterprise.

      The meeting concluded with a reaffirmation of the Board’s commitment to creating an enabling environment for traders through policy advocacy, digital empowerment, Ease of Doing Business reforms, social security initiatives and stronger Centre-State coordination. The Board reiterated its resolve to work towards the welfare and empowerment of traders and their employees and to contribute actively to the vision of Viksit Bharat 2047.

      The meeting was attended by non-official Members representing trade associations and States/UTs from across the country, along with ex-officio Members from various Ministries and Departments of the Government of India.

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