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    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
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    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
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August 5, 2026
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Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
August 5, 2026
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Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
August 5, 2026
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Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
August 5, 2026
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Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
August 5, 2026
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Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
August 5, 2026
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Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
August 5, 2026
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Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
August 5, 2026
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Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
August 5, 2026
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Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
August 4, 2026
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Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
August 4, 2026
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Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
August 4, 2026
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Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
August 4, 2026
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Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
August 4, 2026
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Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
August 4, 2026
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Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
August 4, 2026
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Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
August 4, 2026
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Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
August 4, 2026
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Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
August 4, 2026
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Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
August 4, 2026
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MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.

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NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform

July 17, 2026

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Backed by former Freshworks leaders, the Bengaluru-based company introduces its next-generation AI-native ERP platform that unifies Accounting, Financial Reporting, Inventory Management, Manufacturing, Procurement, Sales, HRMS, Payroll, Compliance, Projects, Document Management, Business Intelligence, and AI Automation into one intelligent cloud platform.
BENGALURU, India, July 16, 2026 /PRNewswire/ -- NetAcct Solutions Pvt. Ltd., a Bengaluru-based enterprise software company backed by former Freshworks leaders, today announced the launch of Entries ERP, the latest generation of its AI-powered Enterprise Resource Planning (ERP) solution built on the Entries AI Platform.




Powered by Infinity, the enterprise AI Agent from Entries AI, Entries ERP helps organizations automate accounting, finance, manufacturing, inventory, procurement, HR, payroll, compliance, and day-to-day business operations through one unified intelligent cloud platform.


Designed specifically for Indian startups, SMEs, manufacturing companies, professional services firms, Chartered Accountant practices, and growing enterprises, Entries ERP replaces multiple disconnected business applications with one integrated system that connects every department through a single source of truth.


Today, more than 500 organizations trust Entries ERP to manage Accounting, Financial Reporting, Inventory Management, Manufacturing, HRMS, Payroll, Compliance, Procurement, Sales, Projects, Business Intelligence, and Document Management from one platform.


From Accounting Software to a Complete AI-Powered ERP Platform
The journey of Entries began in April 2023 when NetAcct Solutions launched an accounting platform to help Indian businesses migrate from QuickBooks following its exit from the Indian market.


As customers grew, so did their requirements.
Businesses no longer want separate applications for accounting, payroll, inventory, manufacturing, compliance, reporting, and document management. They want one intelligent platform capable of managing their entire business.


Working closely with hundreds of customers across manufacturing, retail, engineering, healthcare, education, logistics, technology, consulting, and professional services, NetAcct Solutions transformed Entries into a complete AI-powered ERP platform built specifically for Indian businesses.


Today, Entries ERP combines years of customer feedback, finance expertise, enterprise implementation experience, and AI innovation into one modern cloud platform.


One Unified Platform for Accounting, Manufacturing, HRMS and Business Operations
Most growing businesses operate multiple software products to manage different functions:
• Accounting Software
• Financial Reporting
• HRMS
• Payroll Software
• Inventory Management
• Manufacturing ERP
• Warehouse Management
• Procurement
• Sales
• Project Management
• Compliance Management
• Document Management
• Business Intelligence
The result is duplicated data, disconnected workflows, manual reconciliations, inconsistent reporting, delayed decision-making, and higher operational costs.


Entries ERP eliminates these silos by bringing Finance, Procurement, Manufacturing, Inventory, Sales, HR, Payroll, Compliance, Projects, Leadership, and Operations onto one unified platform.


Every department works from the same real-time data.


One Platform. One Database. One Source of Truth.


Introducing Infinity by Entries AI — The Enterprise AI Agent
At the heart of Entries ERP is Infinity, the enterprise AI Agent built on the Entries AI Platform.


Infinity is not simply a chatbot.


It is an intelligent business agent capable of understanding transactions, executing business processes, automating accounting, orchestrating workflows, retrieving information, and providing real-time business intelligence.


Unlike traditional ERP systems where AI is added as a feature, Infinity is embedded across every workflow within Entries ERP.


Finance teams, HR professionals, procurement managers, manufacturing planners, warehouse teams, compliance officers, sales teams, and business leaders all work alongside the same intelligent AI assistant.


With Infinity, organizations can:
• Automatically extract Purchase Invoices from PDFs, emails, scanned documents, and images.


• Create Purchase Invoices with AI-assisted validation.


• Generate Sales Quotations and Sales Invoices using natural language.


• Create Journal Entries automatically.


• Recommend accounting entries based on business transactions.


• Process supplier invoices.


• Automate bank reconciliations.


• Retrieve financial statements instantly.


• Generate Balance Sheets, Profit & Loss Statements, Cash Flow Statements, Trial Balance, General Ledger, and MIS reports conversationally.


• Generate GST reports and compliance summaries.


• Retrieve inventory reports and warehouse analytics.


• Monitor manufacturing performance.


• Identify production bottlenecks.


• Detect accounting anomalies.


• Identify revenue leakages.


• Detect missing vendor invoices.


• Monitor compliance risks.


• Generate executive dashboards.


• Answer business questions in plain English.


Infinity can answer questions such as:
• "Show me customers with overdue receivables."
• "What is my EBITDA this quarter?"
• "Which suppliers have pending invoices?"
• "Show inventory shortages impacting production."
• "Summarize payroll costs this month."
• "Which GST invoices are pending reconciliation?"
• "Show my manufacturing efficiency by plant."
• "Prepare my financial reporting package."
Infinity transforms Entries ERP from a traditional system of record into an intelligent system of action.


AI Embedded Across Every Business Process
AI is no longer an add-on.


Within Entries ERP, AI is embedded throughout Accounting, Financial Reporting, Manufacturing, Inventory Management, HRMS, Payroll, Procurement, Compliance, CRM, Projects, and Document Management.


AI capabilities include:
• Purchase Invoice OCR and extraction
• AI-assisted Accounting
• Automated Journal Entries
• Sales Invoice generation
• Quote-to-Cash automation
• Procure-to-Pay automation
• Intelligent document extraction
• GST validation
• Financial reconciliations
• Revenue leakage detection
• Business anomaly detection
• Compliance monitoring
• Automated workflow approvals
• Conversational reporting
• Predictive business insights
• AI-powered dashboards
• Intelligent business recommendations
By reducing manual work across finance and operations, businesses accelerate month-end close, improve reporting accuracy, reduce costs, and make faster decisions.


Built for Modern Finance Teams
Entries ERP provides a complete financial management platform.


Finance capabilities include:
• General Ledger
• Chart of Accounts
• Accounts Payable
• Accounts Receivable
• Bank Reconciliation
• Cash Flow Management
• Budgeting
• Financial Reporting
• Multi-company Accounting
• Multi-branch Accounting
• Multi-currency Accounting
• Cost Centers
• Projects
• Fixed Assets
• Asset Depreciation
• Accrual Accounting
• Deferred Revenue
• Deferred Expenses
• Inter-company Accounting
• Period Close Management
• Financial Close Automation
• Audit Readiness
• AI-assisted Accounting
• Management Reporting
Finance leaders gain complete visibility into organizational performance through real-time dashboards and AI-powered analytics.


Built for Manufacturing, Inventory and Supply Chain
Entries ERP connects manufacturing operations directly with finance.


Manufacturing capabilities include:
• Inventory Management
• Warehouse Management
• Multi-location Inventory
• Batch & Serial Number Tracking
• Procurement
• Purchase Management
• Vendor Management
• Material Requests
• Purchase Orders
• Goods Receipts
• Bill of Materials (BOM)
• Production Planning
• Material Requirements Planning (MRP)
• Work Orders
• Job Cards
• Shop Floor Management
• Production Scheduling
• Material Consumption
• Finished Goods Management
• Subcontracting
• Quality Control
• Manufacturing Costing
• Production Analytics
Every inventory movement automatically updates accounting, ensuring accurate inventory valuation and financial reporting.


HRMS, Payroll and Employee Experience
Entries ERP provides a complete Hire-to-Retire platform.


Organizations can manage:
• Employee Onboarding
• HRMS
• Payroll
• Attendance
• Leave Management
• Shift Management
• Expense Claims
• Performance Management
• Employee Self-Service (ESS)
• Mobile Attendance
• Geo-fencing
• Payslips
• Tax Declarations
• Compliance
• Full & Final Settlement
Employees access everything through the Entries ERP ESS Mobile App.


Smarter GST and Compliance Management
Entries ERP includes integrated GST Compliance, e-Invoicing, e-Way Bill, TDS, statutory compliance, and one of India's most comprehensive Compliance Management platforms.


Organizations can:
• Reconcile Purchase Register with GSTR-2B
• Maximize Input Tax Credit
• Detect supplier filing gaps
• Track statutory due dates
• Monitor Companies Act compliance
• Manage Labour Law compliance
• Monitor Secretarial compliance
• Improve governance through Compliance Health Scores
Businesses remain audit-ready and investor-ready throughout the year.


Built for Chartered Accountants and Managed Finance Services
Entries ERP includes an integrated CA Practice platform enabling firms to manage multiple clients from one workspace.


Capabilities include:
• Client Management
• Accounting Services
• Payroll Services
• Compliance Management
• Document Management
• Task Management
• Collaboration
• Business Insights
• Financial Reporting
The platform enables firms to scale advisory and managed finance services while maintaining complete visibility across every client organization.


One Platform. Infinite Possibilities.


With Entries ERP and the Entries AI Platform, NetAcct Solutions believes the future of enterprise software is autonomous.


Businesses no longer need separate software for Accounting, Financial Reporting, Inventory Management, Manufacturing, Procurement, HRMS, Payroll, Compliance, CRM, Projects, Document Management, Business Intelligence, and AI.


Infinity brings all these capabilities together through one intelligent platform capable of understanding, automating, and continuously improving business operations.


The vision is simple: One intelligent platform that runs the entire business.


About NetAcct Solutions Pvt. Ltd.


NetAcct Solutions Pvt. Ltd. is a Bengaluru-based enterprise software company backed by former Freshworks leaders, building AI-powered business management software for modern Indian businesses.
Its flagship offering, Entries ERP, is built on the Entries AI Platform and powered by Infinity, the enterprise AI Agent.


Entries ERP combines AI-powered Accounting Software, Financial Reporting, Inventory Management, Manufacturing ERP, Procurement, Sales, CRM, HRMS, Payroll, Compliance Management, Projects, Document Management, Business Intelligence, and AI Automation into one unified cloud platform designed specifically for Indian businesses.


The platform enables organizations to replace multiple disconnected applications with a single source of truth, helping them operate more efficiently, make better decisions, strengthen governance, and accelerate growth.


Website: https://entries.ai
Entries ERP — Powered by the Entries AI Platform
One Unified AI-Powered ERP for Accounting, Financial Reporting, Manufacturing, Inventory Management, Procurement, HRMS, Payroll, Compliance, CRM, Projects, Business Intelligence, and Business Operations.


Powered by Infinity. Simplified. Powerful. Built for Growth.


(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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