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    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
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    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.

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      Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and reduced litigation at the 167th Income Tax celebrations in New Delhi

      July 25, 2026

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      The Union Finance Minister reiterates fair, efficient, transparent and taxpayer-centric administration

      Income-tax Act, 2025 and new rules and forms mark landmark reforms towards simpler and taxpayer-friendly tax system: Revenue Secretary Shri Arvind Shrivastava

      CBDT Chairman Ravi Agarwal highlights progress in faster return processing, grievance redressal and litigation reduction

      CBDT advances technology-led tax administration through PAN 2.0, ITBA 2.0, IEC 3.0 and SAKSHAM NUDGE

      FM Smt. Sitharaman releases six publications highlighting India's growing leadership in international taxation and taxpayer-centric governance

      Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the 167th anniversary of Income Tax Day celebrations by Central Board of Direct Taxes (CBDT) in New Delhi.

      Shri Arvind Srivastava, Secretary, D/o Revenue; Shri Ravi Agrawal, Chairman, CBDT; Shri Vivek Chaturvedi, Chairman, CBIC: Members of CBDT and CBIC and other senior officers and officials of the Department were present on the occasion.

      Addressing the 167th Income Tax Day celebrations, Union Finance Minister Smt. Sitharaman emphasised that the role of the Income Tax Department has evolved from tax collection to building a fair, efficient, transparent and taxpayer-centric tax administration. She described the implementation of the Income-tax Act, 2025 as a landmark reform that has simplified the law, reduced compliance costs and strengthened ease of doing business. She also highlighted the enhanced capacity of the e-Filing portal, improved return processing, prompt refunds and significant progress in grievance redressal, while stressing that the Department must move beyond disposal of grievances to analysing recurring issues and preventing them through systemic improvements. She outlined the 5Rs of Responsive Tax Governance - Recognise, Respond, Redress, Reflect and Reform, as guiding principles for taxpayer service, emphasising that honest taxpayers should experience convenience, opportunities to correct bona fide errors and a tax administration that exercises its authority with humility. Stressing that taxpayers are partners in India's development, she called for a continued focus on reducing litigation by strengthening tax certainty.

      FM Smt. Sitharaman also underlined the importance of strengthening institutional capacity through modern infrastructure, technology and continuous investment in human capital. She appreciated the progress made in upgrading offices and welfare facilities and called for greater capacity building in emerging areas such as artificial intelligence, data analytics, forensic accounting, international taxation, transfer pricing, digital assets, cybersecurity and leadership development. She urged the Department to deepen voluntary compliance, further simplify the taxpayer experience, strengthen tax certainty, harness technology responsibly, build institutional excellence, reinforce public trust and embrace continuous improvement. Congratulating the officers and staff of the Income Tax Department on the occasion of the 167th Income Tax Day, she expressed confidence that the Department would continue to play a pivotal role in promoting ease of doing business, strengthening taxpayer confidence and supporting India's economic growth.

      In his address on the occasion, Shri Arvind Shrivastava, Secretary, D/o Revenue, Ministry of Finance, extended his greetings to the officers and officials of the Income Tax Department and described the implementation of the Income-tax Act, 2025 and the new Income-tax Rules and Forms as landmark reforms towards a simpler, clearer and more taxpayer-friendly tax system, and appreciated the Department's efforts in strengthening taxpayer outreach, grievance redressal, litigation management and technology-driven service delivery. Emphasising the need to leverage technology while keeping taxpayers at the centre of reforms, he called for continued focus on ease of compliance, tax certainty, quality service delivery and innovation, and expressed confidence that the Department would continue to strengthen public trust and contribute to the vision of Viksit Bharat by 2047.

      Welcoming the dignitaries on behalf of the Income Tax Department, Shri Ravi Agrawal, recalled the priorities set out by the Union Finance Minister during the previous Income Tax Day celebrations and the expectations articulated at the PRARAMBH programme earlier this year, he outlined the Department's progress over the past year in translating those directions into measurable outcomes. He highlighted the Department's sustained efforts towards reducing litigation, faster disposal of appeals and enhancing tax certainty through Advance Pricing Agreements.

      He also noted the achievements in the areas of expeditious return processing, appeal-effect orders and refunds, and strengthening grievance redressal. He further highlighted the Department's achievements in expanding taxpayer outreach through initiatives such as PRARAMBH and Samvaad. He also underscored the Department's continued focus on leveraging technology through initiatives such as PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and the SAKSHAM NUDGE framework to simplify compliance, improve taxpayer experience and strengthen voluntary compliance. He expressed his appreciation to all CBDT verticals, including the Exemptions vertical, and the officers involved in framing the Rules and Forms under the Income-tax Act, 2025. Expressing gratitude for the continued guidance and support of the Hon'ble Finance Minister, he reaffirmed the Department's commitment to building a fair, transparent and trusted tax administration through innovation, collaboration and citizen-centric governance.

      The Union Finance Minister also released six flagship publications of the Income Tax Department, reflecting its continued commitment to knowledge sharing, capacity building, transparency and taxpayer-centric governance. These included:

      • Avlokan, the inaugural Annual Report of the FT&TR Division highlighting India's growing leadership in international taxation;
      • The Manual on Exchange of Information; the updated Guidance Note on FATCA & CRS;
      • India's first comprehensive Guidance Note on Crypto Asset Reporting Obligations for Crypto-Asset Service Providers;
      • The Annual Report of the APA Programme, showcasing the programme's progress; and
      • Re-engineering Tax Governance, tracing the Department's journey of transformation from paper-based processes to an integrated, technology-driven and taxpayer-centric digital ecosystem.

      Four short films showcasing the history of taxation, the Karmyogi Shiksha Path Portal, achievements of Income-Tax department in FY 2025-26 and the reimagining of taxpayer communication in the digital age were also screened during the event.

      The function ended with a vote of thanks proposed by Smt. G. Aparna Rao, Member, CBDT. She thanked the Union Finance Minister for gracing the occasion and inspiring the Department with her words of wisdom. She also thanked all the other dignitaries present on the occasion. She also thanked the media and organisers of the event.

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