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    Direct taxes grow 16 pc to Rs 6.51 lakh crore so far on faster corporate tax mop-up
    Gurugram realty 'fraud': SC transfers money-laundering case involving Amit Katyal to Delhi
    Import of goods produced through use of forced labour prohibited: Govt
    CID chief Supratim Sarkar shifted in major police rejig; Jayraman moved to Economic Offences wing
    A Swadeshi Blueprint for a Rs.3000 Trillion Bharat: The BGIF Story
    International-level market to be set up near Vadhvan Port to boost farm exports: Minister
    India, China trade rises to USD 91.72 bn in first 6-month, trade deficit widens to USD 67.1 bn
    HIGHLIGHTS
    First Round of India–Maldives Free Trade Agreement Negotiations Concludes Successfully
    Explore Touristhub Holidays LLP Honoured by Saina Nehwal at Business Excellence India Awards 2026
    Rupee falls 62 paise to close at 96.30 against US dollar
    Union Minister of Commerce and Industry Shri Piyush Goyal Begins Spain Visit with High-Level Engagements to Deepen India–Spain Economic Partnership
    Direct tax mop-up grows 16 pc to over Rs 6.51 lakh cr so far in FY27
    IC Electricals Secures INR 4.89 Crore Export Order from US Customer Through Subsidiary Safe Coils India; Export Order Book Surpasses INR 17.20 Crore
    UP RERA to facilitate GST refund for homebuyers, warns builders against excess levy
    India, UK trade pact to come into force from July 15: An Explainer
    WPI inflation rises to 9.87 pc in June; minerals, food items see price spike
    SC adjourns suo motu case on NCLT vacancies, infrastructure; says appointments process underway
    CBN Madhya Pradesh Unit busts high-tech MD manufacturing lab in Pune; Two masterminds arrested from Ujjain and Jodhpur under multi-city ‘Operation V...
    DRI busts several wildlife trafficking networks across India operations
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    July 14, 2026
    Show AI Summary
    Corporate tax growth strengthens direct tax collections, reflecting resilient profitability, advance tax payments, and improving compliance
    Net direct tax collections rose by 16.40 per cent to over Rs 6.51 lakh crore up to July 13, driven mainly by a 22 per cent increase in net corporate tax collections. Net non-corporate tax collections also increased, while Securities Transaction Tax collections grew by 48 per cent. Gross direct tax collections rose by 16.11 per cent, and refunds increased by 14.57 per cent. The collection trend was associated with resilient corporate profitability, stronger corporate advance tax payments, continued compliance and increasing formalisation.
    July 14, 2026
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    PMLA territorial jurisdiction in homebuyer fraud permits concurrent forum competence where alleged proceeds were acquired and concealed across locations
    Money-laundering proceedings arising from alleged cheating of homebuyers in a Gurugram real-estate project were transferred to the Special PMLA Court at Saket, Delhi, with prosecution continuing from its existing stage. The jurisdictional issue involved alleged acquisition of proceeds of crime at Gurugram and concealment of attached proceeds in Delhi, creating simultaneous jurisdiction for the PMLA courts at both locations. The underlying allegations include collection of funds before project licensing, fraudulent bookings, diversion of project funds, undervalued land transfers during insolvency, and diversion of public-sector bank loans.
    July 14, 2026
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    Forced-labour import ban strengthens trade controls, with DGFT inquiry procedures and government power to restrict identified goods.
    The Foreign Trade Policy, 2023 prohibits the import of goods produced or manufactured, wholly or partly, through forced labour. The central government may prohibit specific goods where an inquiry or other relevant evidence indicates forced-labour production. The Directorate General of Foreign Trade will conduct inquiries under the procedure prescribed in the Handbook of Procedures, 2023. Forced labour is defined by reference to the ILO Forced Labour Convention, 1930, as work or service exacted under threat of penalty without voluntary offer by the person concerned.
    July 14, 2026
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    Police leadership reshuffle strengthens economic-offences investigations and reallocates senior officers across intelligence, security, and district policing
    West Bengal reorganised its police leadership by transferring 28 IPS officers and five WBPS officers across investigative, intelligence, telecommunications, correctional, traffic, cyber and district-policing assignments. N R Babu became head of the Criminal Investigation Department while retaining additional charge of prisons, and Supratim Sarkar moved from the CID to Telecommunications. K Jayraman was appointed Director of the Directorate of Economic Offences in the context of the government's stated focus on alleged financial irregularities. Other changes included new leadership for the Special Task Force, Intelligence Branch, Bidhannagar Police, the Narayani Battalion and several districts, including revised postings in Baruipur following serious criminal incidents.
    July 14, 2026
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    Industrial collaboration platform combines policy advocacy, regulatory guidance and cross-border manufacturing partnerships to advance India's global industrial ambitions
    BGIF is presented as a Swadeshi-oriented industrial collaboration and policy platform connecting businesses, policymakers, investors, technocrats and innovators. Its functions include policy advocacy, regulatory guidance, sector-specific insights, investment access, fundraising support, deal structuring and business expansion. The forum operates through domestic chapters and an international network, and reports engaging in freight-related policy advocacy, participating in pre-Budget consultations, and facilitating a memorandum of understanding between an Indian manufacturer and an overseas partner for manufacturing cooperation and technology exchange. Its roadmap includes further chapters, international partnerships, industry conclaves and policy dialogues.
    July 14, 2026
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    Integrated agricultural trade hub near Vadhvan Port aims to strengthen exports through cold chains, logistics, and transparent trading
    Maharashtra has approved an international-standard agricultural market at Dapchari in Palghar district near the upcoming Vadhvan Port. Developed by the Maharashtra State Agricultural Marketing Board, the project will combine an international market, a market of national importance and Agricultural Produce Market Committees. Planned infrastructure includes wholesale and import-export facilities, cold chains, grading and packaging units, multimodal logistics, warehouses, testing laboratories, container terminals, railway siding, e-auctions and an export facilitation centre. The project aims to support transparent trading, post-harvest value addition, reduced losses and improved agricultural exports.
    July 14, 2026
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    Bilateral trade expansion with China coincides with a widening deficit, as India seeks greater market access and investment
    Bilateral trade between India and China increased in the first half of 2026, while the trade imbalance widened in China's favour. Chinese exports included electronics, telecommunications equipment, semiconductors, batteries, machinery, computers, chemicals, plastics and polymers. Indian exports included minerals, refined fuels, chemicals, electronics, agricultural and marine products, metals, gems, jewellery and pharmaceuticals. India continues to seek improved Chinese market access for information technology, pharmaceutical and agricultural products, alongside greater Chinese investment in India. Discussions also focus on expanding the range of traded goods and applying consumer-protection mechanisms while enabling increased Indian exports.
    July 14, 2026
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    Language-policy challenges and religious-practice arrangements highlight legal developments alongside deportation reform and criminal investigation measures.
    The Supreme Court sought responses on challenges to the CBSE three-language requirement for Class 9 students and directed that Muslims be provided a separate open space adjacent to the disputed Bhojshala site for Friday prayers. A special NIA court issued a non-bailable warrant against Hafiz Saeed in connection with an investigation into the Pahalgam terror attack. The United Kingdom initiated a legislative change intended to remove an obstacle to deporting a grooming-gang leader to Pakistan.
    July 14, 2026
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    India-Maldives FTA negotiations advance market access, investment facilitation and broader economic cooperation through eight technical sessions
    The first round of India-Maldives Free Trade Agreement negotiations concluded after virtual, text-based discussions across eight technical sessions and eight policy areas. The parties made substantive progress and reached broad convergence on several issues. The proposed FTA is intended to enhance market access, facilitate investment, promote economic cooperation and support sustainable economic growth. Both sides are pursuing a broad-based, balanced and comprehensive agreement guided by fairness and reciprocity, while also seeking deeper cooperation in tourism, startups, digital payments, MSMEs and trade.
    July 14, 2026
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    Business excellence recognition highlights Explore Touristhub Holidays LLP's personalized travel planning, service quality, and customer-focused holiday experiences.
    Explore Touristhub Holidays LLP received recognition as a leading travel agency for memorable holiday experiences. The recognition highlighted its personalized holiday planning, customer satisfaction, itinerary innovation, and contribution to India's travel and tourism sector. The company provides leisure holidays, corporate travel management, MICE services, educational tours, group departures, honeymoon packages, pilgrimage tours, and customized travel experiences. Its service approach emphasizes tailored itineraries, quality hospitality, safety, seamless execution, competitive pricing, reliable support, and assistance throughout the journey.
    July 14, 2026
    Show AI Summary
    Rupee depreciation reflects crude oil pressures, geopolitical uncertainty, safe-haven dollar demand, widening trade deficit, and rising inflation
    The rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns and increased demand for safe-haven dollar assets. Rising crude prices increased India's dollar-denominated import burden and contributed to foreign exchange outflows and pressure on the domestic currency. India's exports increased year-on-year in June, but the trade deficit widened as imports, particularly crude oil imports, rose. Wholesale price inflation also increased, while net direct tax collections recorded year-on-year growth, primarily reflecting higher corporate tax collections.
    July 14, 2026
    Show AI Summary
    Bilateral economic cooperation expands through trade, investment, innovation, industrial partnerships and technology collaboration across priority sectors
    India and Spain pursued deeper economic cooperation through discussions on trade, investment, innovation and industrial partnerships. Priority areas included renewable energy, green hydrogen, advanced manufacturing, digital technologies, infrastructure, clean energy, mobility, tourism, automotive, railways and smart infrastructure. The discussions addressed market access, resilient supply chains, technology partnerships, investment flows and business linkages. The India-Spain Business Forum examined opportunities in manufacturing, infrastructure, renewable energy, digital technologies, the digital economy and innovation, while the Fast Track Mechanism was discussed as a means of facilitating new investments and strengthening business confidence.
    July 14, 2026
    Show AI Summary
    Direct tax collections rise as corporate and non-corporate tax receipts grow, alongside increased refunds during the fiscal year
    Net direct tax collection increased by 16.40 per cent to over Rs 6.51 lakh crore up to July 13 of the fiscal year. Net corporate tax collection rose by 22 per cent, while net non-corporate tax collection, covering individuals, Hindu undivided families and firms, increased by about 12 per cent. Refunds of Rs 1.22 lakh crore were issued, and gross direct tax collection increased by 16.11 per cent to over Rs 7.73 lakh crore.
    July 14, 2026
    Show AI Summary
    Export Order Through Subsidiary Expands Railway Equipment Business and Increases Unexecuted International Order Book Beyond Prior Executions
    IC Electricals received a USD 510,000 export purchase order from a United States customer through its subsidiary, Safe Coils India Private Limited. The order increases its unexecuted export order book to USD 1.8 million, representing growth of more than 300% compared with export orders executed during financial year 2025-26. The company manufactures railway electrical and electronic equipment and undertakes turnkey railway electrification projects, including design, supply, erection, testing, and commissioning of 25 kV AC overhead equipment and traction substations. Its forward-looking growth statements remain subject to governmental, economic, political, operational, and technological risks.
    July 14, 2026
    Show AI Summary
    Excess GST collection requires promoter refund or direct GST claims by eligible homebuyers after credit-note deadlines expire
    Registered real estate promoters must collect GST from homebuyers only at notified rates and refund any excess collection or issue a credit note where legally permissible. If a project is cancelled, an agreement terminated, or an allotment revoked after the statutory credit-note period expires, an eligible unregistered allottee may seek a direct GST refund by obtaining temporary registration through a PAN and filing Form GST RFD-01 with proof of tax payment, supporting documents, and a promoter-issued certificate. Claims must be filed within two years and remain subject to GST verification.
    July 14, 2026
    Show AI Summary
    India-UK trade pact expands preferential market access, with phased automobile tariffs, procurement rights, origin rules and intellectual-property safeguards
    The India-UK Comprehensive Economic and Trade Agreement provides duty-free or reduced-duty access for nearly 99% of Indian exports to the UK and phased tariff reductions for specified UK goods entering India. Automobile concessions are subject to quotas and differentiated treatment for conventional, electric, hybrid and hydrogen vehicles. Alcoholic-beverage concessions depend on phased tariff reductions and minimum import prices, while specified products remain excluded. The agreement covers government procurement, stronger intellectual-property enforcement while preserving compulsory licensing, temporary social-security contribution relief for transferred employees, and rules of origin requiring specified production, processing or value addition for preferential tariffs.
    July 14, 2026
    Show AI Summary
    Wholesale inflation rises as mineral, food, fuel and non-food prices intensify, complicating RBI's inflation-management mandate.
    Wholesale Price Index inflation increased to 9.87 per cent in June 2026, driven by mineral oils, food articles, basic metals, and chemicals. Fuel and power inflation remained elevated, while food and non-food article prices also rose. Retail inflation increased to 4.38 per cent. The Reserve Bank of India primarily considers CPI inflation for monetary policy and is mandated to maintain headline inflation at 4 per cent, with a tolerance range of 2 per cent on either side. Its inflation projection was raised due to higher input costs and the transmission of global energy prices to retail fuel prices.
    July 14, 2026
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    NCLT vacancies and infrastructure gaps remain under review as delays in insolvency resolution plans raise IBC efficiency concerns
    Delays in appointing judicial and technical members to the National Company Law Tribunal, inadequate infrastructure, and concerns over its disposal rate are being considered in suo motu proceedings. The hearing was deferred after the appointment process was reported to be underway. The proceedings followed concerns regarding persistent delays in approving insolvency resolution plans under the Insolvency and Bankruptcy Code, including applications pending before the NCLT for periods ranging from weeks to several years.
    July 14, 2026
    Show AI Summary
    Synthetic drug trafficking enforcement exposes clandestine Mephedrone laboratories, leading to arrests and seizure of manufacturing equipment under narcotics law
    Interstate synthetic drug trafficking enforcement under the NDPS Act, 1985 led to the dismantling of a sophisticated Mephedrone manufacturing laboratory and the arrest of two alleged chief conspirators during coordinated operations. Officers seized digital machinery, laboratory equipment, heavy glassware, precursor chemicals and safety gear used in illicit MD production. Sustained intelligence and interstate investigation identified a second facility financed and coordinated by a co-conspirator. Simultaneous searches resulted in the second arrest and seizure of the clandestine laboratory's equipment and chemicals, which were taken into possession under the NDPS Act, 1985. Further investigation remains in progress.
    July 14, 2026
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    Wildlife trafficking enforcement targets ivory, endangered species, and transnational smuggling through coordinated operations and CITES-based protections
    Intelligence-led operations targeted organised wildlife trafficking involving endangered and protected fauna, ivory, and other wildlife products. More than 440 protected or endangered animals, approximately 15 kg of ivory articles and elephant ivory, and products including pangolin scales, leopard pelt, seahorse-based articles, and Red Sanders were seized, while 33 persons were arrested or apprehended. Elephant ivory recoveries were referred to the Forest Department for action under the Wildlife (Protection) Act, 1972. The Indian elephant is protected under Schedule I, trade in elephants and derivatives is prohibited, commercial ivory trade is restricted under CITES obligations, and ivory imports and exports are prohibited under the Foreign Trade Policy.

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      PMLA / Black Money

      HIGHLIGHTS

      July 8, 2026

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      New Delhi, Jul 8 (PTI) Following are the top stories at 9 PM NATION DEL101 JK-2NDLD ENCOUNTER (8.25 PM)

      LeT terrorist Zakir Ganai killed in multi-day operation in J-K's Shopian Srinagar: A Lashkar-e-Taiba (LeT) terrorist identified as Zakir Ganai was killed in South Kashmir's Shopian district following a relentless six-day operation launched by the Army and other security forces, based on a Jammu and Kashmir Police tip-off, officials said Wednesday.

      DEL111 LD RAM TEMPLE (9.17 PM)

      Donation 'theft': Adityanath defends Ram temple trust; Avinash Shukla named prime accused Ayodhya/Chitrakoot: Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday defended the Ram temple trust saying the SIT probing the alleged donation theft found evidence against only eight out of nearly 150 people engaged in counting offerings, even as police took three accused into custody for further interrogation.

      DEL46 RAHUL-UGC NET (4.18 PM)

      Govt turning blind eye, sleeping soundly despite repeated 'scams' in NEET, NET: Rahul New Delhi: Congress leader Rahul Gandhi on Wednesday attacked the Modi government over alleged irregularities in the UGC-NET exam, saying it continues to turn a blind eye and sleep soundly despite repeated "scams" as years of hard work put in by lakhs of students hold no value for it.

      DEL96 DL-BUILDING-COLLAPSE-TOLL (8.10 PM)

      One dead, 5 to 6 people still feared trapped in Delhi's Rohini building collapse New Delhi: One person died while five to six others are still feared trapped after a three-storey under-construction building collapsed in Delhi's Rohini area on Wednesday, police said.

      DEL56 EDU-NEET-PLAN (4.58 PM)

      2027 NEET-UG plan: Computer-based test to be spread over 6 days across more than 1,000 centres New Delhi: Medical entrance exam NEET-UG, which is set to be conducted as a computer-based test from next year, will be spread over at least six days across more than 1,000 centres, sources said.

      CAL48 WB-MAMATA-DISSIDENTS (8.42 PM)

      Mamata warns dissident TMC leaders: 'Stay with party or join BJP' Kolkata: Former West Bengal chief minister Mamata Banerjee on Wednesday attacked the dissident Trinamool Congress leaders, asking them to either remain with the TMC or openly join the BJP instead of "staying in the middle of the river".

      DEL65 ED-TMC-LD ACCOUNTS FREEZE (5.40 PM)

      ED freezes TMC's Rs 440-cr worth bank deposits under PMLA Kolkata/New Delhi: The Enforcement Directorate (ED) on Wednesday said it has frozen three bank accounts of the Trinamool Congress (TMC), holding deposits worth Rs 440 crore, under the anti-money laundering law following searches in an alleged funds misappropriation case.

      DEL79 SPACE-GAGANYAAN-PARACHUTE-TEST (7.13 PM)

      ISRO successfully conducts critical test on main parachutes for Gaganyaan's crew module New Delhi: The Indian Space Research Organisation (ISRO) successfully conducted a critical test on the main parachutes for the Gaganyaan's crew module.

      DEL91 DFE-DRDO-PINAKA (7.46 PM)

      India conducts successful flight-test of Pinaka Long Range Guided Rocket New Delhi: India on Wednesday conducted a successful flight test of Pinaka Long Range Guided Rocket (LRGR) at the Integrated Test Range, Chandipur in Odisha, officials said.

      BOM32 MH-DOCTORS-2ND LD ASSAULT (6.56 PM)

      Shiv Sena corporator arrested for assaulting doctors at civic hospital; party promises disciplinary action Thane: Shiv Sena corporator Ramesh Mhatre and three of his associates have been arrested for allegedly assaulting doctors and medical staff at a civic-run hospital in Thane district of Maharashtra amid an outrage and political row, forcing the Eknath Shinde-led party to promise disciplinary action.

      BOM23 MH-FARMERS-SUICIDES-MARATHWADA (5.32 PM)

      465 farmer suicides recorded in Marathwada region in first half of 2026 Chhatrapati Sambhajinagar: As many as 465 farmers committed suicide between January and June 2026 in the Marathwada region of central Maharashtra with Chhatrapati Sambhajinagar district reporting the highest cases at 109, an official report said on Wednesday.

      DEL104 2ND LD RAINS (8.36 PM)

      Delhi, Mumbai grapple with monsoon havoc; 16 feared trapped in Pune collapse amid heavy rain New Delhi: Heavy monsoon rains battered large parts of the country on Wednesday, triggering flash floods and widespread disruption to rail and road traffic, with 16 people feared trapped under a collapsed garbage mound in Maharashtra's Pimpri Chinchwad and several parts of Delhi and Mumbai reeling under waterlogging.

      DEL103 CJP-PROTEST-LD DAY 19 (8.32 PM)

      CJP protest enters Day 19; Wangchuk loses over 7 kg, AISA member hospitalised New Delhi: Educator and climate activist Sonam Wangchuk's condition deteriorated further on Wednesday, with doctors reporting that he has lost more than seven kilograms since beginning his indefinite fast 11 days ago.

      LEGAL LGD7 SC-CBSE-GULF COUNTRIES (5.13 PM)

      SC agrees to hear plea filed by CBSE Class XII students from Gulf countries New Delhi: The Supreme Court on Wednesday agreed to hear a plea challenging the CBSE's March 27 assessment scheme for regular students who were affected by the cancellation of Class XII board examination in Gulf countries due to the Iran-US war.

      LGD8 DL-COURT-RIOTS-DELAY (5.20 PM)

      2020 Delhi riots: Court expresses concern over repeated delays in appearance of police witnesses New Delhi: A court here has expressed concern over repeated delays in the appearance of police witnesses and the production of case property in a case related to the 2020 Delhi riots, saying it resulted in wastage of time.

      BUSINESS DEL106 BIZ-INDIA-MALDIVES-INVESTMENTS (8.42 PM)

      India, Maldives conclude talks for investment treaty; legal scrubbing of text on New Delhi: India and the Maldives have concluded negotiations for a bilateral investment treaty (BIT), and the text is undergoing legal scrubbing before the deal is signed.

      FOREIGN FGN41 PM-INDONESIA-LDALL TEMPLE (4.45 PM)

      PM Modi, Prez Prabowo visit Prambanan Temple complex in Yogyakarta; launch conservation project Yogyakarta: Prime Minister Narendra Modi, along with Indonesian President Prabowo Subianto, on Wednesday visited the centuries-old iconic Prambanan Temple complex in Yogyakarta, marking the inauguration of a joint conservation project for this UNESCO World Heritage Site.

      FGN16 US-BISHNOI-LD INDICTMENT (9.59 AM)

      US charges Lawrence Bishnoi, Goldy Brar for Nijjar's killing in Canada in 2023 Washington: The US has charged Lawrence Bishnoi, a gangster imprisoned in India, and his aide Satinderjeet Singh alias Goldy Brar for ordering the assassination of Khalistan separatist Hardeep Singh Nijjar in Canada.

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