Economy

97 items tagged Economy.

• 2026-10-02

  India's gross GST collections rise 14.7% to over Rs 2.03 lakh crore in September

  India's gross Goods and Services Tax collections rose 14.7 per cent year on year to over Rs 2.03 lakh crore in September 2026, government data released on 1 October showed. Gross domestic GST revenue grew 10.1 per cent to about Rs 1.38 lakh crore, while revenue from imports rose about 26 per cent to Rs 65,525 crore. GST refunds fell nearly 3 per cent year on year, so net GST revenue after refunds rose a sharper 18.1 per cent to over Rs 1.76 lakh crore. During the first half of the financial year, April to September, gross GST collections grew 11.6 per cent to over Rs 12.46 lakh crore.

• 2026-10-02

  Government launches National PNG Drive 3.0 to add 50 lakh piped gas connections

  Union Petroleum Minister Hardeep Singh Puri on 1 October 2026 launched the third phase of the National PNG Drive, targeting 50 lakh new domestic piped natural gas connections, conversion of 40 lakh existing connections into active consumers, and 50 lakh fresh domestic PNG registrations by the end of FY27. The drive builds on its second phase, which ran from January to June 2026 and added about 13.4 lakh billed connections. The Petroleum and Natural Gas Regulatory Board said about 6.9 lakh inch kilometres of city gas pipeline have been laid so far, with the potential to support around 1.3 crore domestic PNG connections, as the government works to raise natural gas's share in India's primary energy mix from around 6 per cent currently.

• 2026-10-01

  Government notifies CAFE-III fuel efficiency norms for passenger vehicles

  The government notified the third phase of Corporate Average Fuel Economy (CAFE-III) norms for passenger vehicles on 30 September 2026, to apply from 1 April 2027 to 31 March 2032. The norms seek a fuel consumption improvement of over 16 percent, tightening the fleet average benchmark from 3.996 litres per 100 km in 2027-28 to 3.3273 litres per 100 km in 2031-32, and raise the reference vehicle weight used to set targets from 1,082 kg to 1,229 kg. Battery electric, range extended, plug-in hybrid and flex-fuel vehicles get volume based super credits, and manufacturers can trade or carry forward compliance credits through the Bureau of Energy Efficiency.

• 2026-10-01

  Cabinet raises MSP for all six Rabi crops for the 2027-28 marketing season

  The Cabinet Committee on Economic Affairs approved higher Minimum Support Prices for all six mandated Rabi crops for the 2027-28 marketing season on 30 September 2026. Safflower received the highest absolute increase at Rs 675 per quintal, taking its MSP to Rs 7,215, followed by rapeseed and mustard at Rs 413 to Rs 6,613 and lentil at Rs 390 to Rs 7,390, while wheat received the smallest increase of Rs 25 per quintal, taking its MSP to Rs 2,610. The government said the new prices keep MSP at least 1.5 times the all India weighted average cost of production, with the margin over cost ranging from 50 percent for safflower to 106 percent for wheat.

• 2026-09-30

  Ministry of Steel sets up Steel Industry Safety Council as apex safety body

  The Ministry of Steel announced on 28 September 2026 the setting up of a Steel Industry Safety Council as an apex level industry safety body under its administrative control, aimed at strengthening safety standards and accident prevention across the steel industry. The Council will be headed by the Secretary, Ministry of Steel, and will include chief executives of integrated steel producers along with representatives of the Directorate General of Mines Safety, the Petroleum and Explosives Safety Organisation and the National Disaster Management Authority. A Steel Industry Safety Directorate will also be set up to support the Council, undertaking safety audits, investigating serious incidents and developing steel specific safety standards and guidelines suited to Indian conditions.

• 2026-09-30

  Labour Ministry launches Shram Samvad, a 90 day awareness campaign on the new Labour Codes

  Union Labour Minister Mansukh Mandaviya announced on 28 September 2026 the launch of Shram Samvad, an awareness campaign on the new Labour Codes that will cover industrial clusters across 316 districts in all States and Union Territories over the next 90 days. Speaking at a National Conference on Industrial Relations organised with industry bodies in New Delhi, Mandaviya said India's social security coverage has risen from 19 percent of the population in 2015 to 68 percent today, and that continuous dialogue between industry and workers was key to strengthening industrial relations. The Ministry also released a report titled Employer's Guide Under New Labour Codes Framework, on fixed term employment in India.

• 2026-09-29

  Industrial growth quickens to 8% in August 2026 on broad based uptick

  India's Index of Industrial Production grew 8% in August 2026, up from 7.35% in July, data released by the Ministry of Statistics and Programme Implementation showed, marking the second highest reading since the current series began in April 2024. Growth was driven by the manufacturing sector, up 8.95%, the electricity sector, which quickened to a 27-month high of 12.3%, and the capital goods and consumer durables sectors, though the latter's growth actually eased slightly from July. Economists said the festive season could sustain momentum, making the third quarter critical for whether India can register 7 to 8% industrial growth for the full year.

• 2026-09-28

  Bank unions defer three day nationwide strike after late night talks with IBA

  The United Forum of Bank Unions deferred its proposed three day nationwide strike, scheduled for 28 to 30 September, after a late night meeting with the Indian Banks' Association on 27 September 2026. The strike had been called primarily to press for a five day banking week, since banks currently work on all Saturdays except the second and fourth of each month. Under the understanding reached, a high level committee of the IBA and UFBU will be formed to examine the five day week demand, while discussions will also begin on the performance linked incentive scheme for Scale IV and above officers and other issues pending since a March 2024 meeting. Bank branches will therefore function normally through the half yearly closing period from 28 to 30 September, though the underlying demands remain unresolved.

• 2026-09-28

  Sitharaman attends 11th AIIB Annual Meeting in Doha during Qatar visit

  Finance Minister Nirmala Sitharaman undertook an official visit to Qatar from 27 to 29 September 2026, during which she attended the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank in Doha on 28 September. India is the second largest shareholder of the AIIB, and Sitharaman attended the meeting as India's governor to the bank. Besides the annual meeting, she held bilateral talks with the AIIB President and her counterparts from Jordan, Switzerland, Algeria, Saudi Arabia and Nepal, and was expected to call on the Qatari leadership and engage with Qatari business leaders and investors.

• 2026-09-28

  Centre launches Livestock Insurance Portal for streamlined policy and claims processing

  The Department of Animal Husbandry and Dairying, under the Ministry of Fisheries, Animal Husbandry and Dairying, launched the Livestock Insurance Portal in New Delhi on 28 September 2026. Union Minister Rajiv Ranjan Singh inaugurated the portal, which provides a single integrated digital platform for issuing policies, processing claims, and monitoring and reporting under the Livestock Insurance Scheme. The Ministry said the portal would be available in eleven regional languages besides Hindi and English, so that livestock farmers can access information and services in languages familiar to them.

• 2026-09-27

  India's forex reserves post their sharpest weekly fall since November 2024

  According to the Reserve Bank of India's Weekly Statistical Supplement released on 25 September 2026, India's foreign exchange reserves fell by 14.88 billion dollars over the week ending 18 September 2026, to 765.90 billion dollars, the sharpest weekly decline since November 2024. Foreign currency assets, the largest component, fell by 14.82 billion dollars to 630.98 billion dollars, while gold reserves rose marginally by 68 million dollars to 111.29 billion dollars. Despite the weekly fall, reserves remained 74.79 billion dollars higher than their level at the end of March 2026.

• 2026-09-26

  SEBI's 24 September board meeting also clears a common advertisement code and an overhauled settlement framework

  At the same 24 September 2026 board meeting that cleared the Portfolio Managers Route for Investing in Mutual Fund units, the Securities and Exchange Board of India also approved a common advertisement code for its regulated entities, permitting the use of celebrity endorsements for brand or entity level promotion for the first time, while removing certain mandatory prior approval requirements for other advertisements. The board also approved changes to its settlement framework, including a new formula for computing settlement amounts, separate treatment for wrongful gains, a fast track mechanism for cases involving amounts up to Rs 10 lakh, and a 60 day window for settlement notices to be issued before formal proceedings begin.

• 2026-09-26

  Government disburses September salary and pension in advance, RBI approves special Sunday banking, ahead of the 28 to 30 September strike

  With the United Forum of Bank Unions' three day strike, called principally over the five day banking week demand, set for 28 to 30 September 2026, the Finance Ministry's Department of Expenditure directed that the September salary and pension of all central government employees and pensioners be disbursed in advance on 25 September, to be treated as an advance payment adjusted against October's salary and pension. Separately, the Reserve Bank of India approved special functioning of all Public Sector Bank and Regional Rural Bank branches, offices, ATM linked branches and currency chests on Sunday, 27 September, so that the preceding weekend combined with the strike does not leave banking services suspended for an extended stretch running into the half yearly closing on 30 September.

• 2026-09-25

  SEBI board approves PMS-mutual fund route, REIT and InvIT reforms, and wider FPI access to commodity derivatives

  The Securities and Exchange Board of India approved a wide-ranging set of reforms at its board meeting on 24 September 2026, including a new Portfolio Managers Route for Investing in Mutual Fund units (PRIM) with a minimum ticket size of Rs 25 lakh, and simplified portfolio manager regulations allowing investment in IPOs and unlisted debt. The board also cleared the issuance of depository receipts on units of REITs and InvITs to attract foreign capital, and widened foreign portfolio investor access to non-agricultural commodity derivatives, subject to safeguards. A reformed accredited investor framework will deem all persons resident outside India, including FPIs, as accredited investors for eligible market products.

• 2026-09-24

  India's private sector activity hits three month high in September as flash PMI rises to 56.5

  The HSBC Flash India Composite PMI rose to 56.5 in September 2026 from 54.3 in August, a three month high, with the Manufacturing PMI climbing to 55.7 from 52.8 and the Services PMI Business Activity Index rising to 55.8 from 54.1, according to the preliminary survey released on 23 September 2026. The index has stayed above the 50 mark separating expansion from contraction for 62 consecutive months, with output and new orders accelerating across both manufacturing and services and hiring picking up, even as new export orders grew at their slowest pace in nearly three years. HSBC's chief India economist Pranjul Bhandari said renewed tensions in the Middle East had led firms to build buffers to manage uncertainty, while input cost inflation eased to its lowest level since January even as manufacturers' own output price inflation gathered pace.

• 2026-09-24

  S&P Global raises India's FY27 GDP growth forecast to 7 percent, flags a possible RBI rate hike

  S&P Global Ratings raised its GDP growth projection for India in the current fiscal year, FY27, to 7 percent, citing robust industrial activity, healthy consumption, strong goods exports and accelerating government investment, according to its Economic Activity for Asia Pacific report published on 23 September 2026. The agency also forecast that the Reserve Bank of India could raise interest rates by 25 basis points during FY27 and estimated that consumer inflation would average 5.1 percent for the year. The upgrade followed the Indian economy expanding by a higher than expected 7.8 percent in the June quarter.

• 2026-09-23

  RBI issues Amendment Directions standardising how financial institutions value InvIT and REIT units

  The Reserve Bank of India on 22 September 2026 issued the Reserve Bank of India (All India Financial Institutions, Classification, Valuation, and Operation of Investment Portfolio) Amendment Directions, 2026, alongside parallel amendment directions covering commercial banks, small finance banks, local area banks and payments banks. The amendment inserts two new provisions, Paragraph 58A for Infrastructure Investment Trusts and Paragraph 58B for Real Estate Investment Trusts, into the existing investment portfolio directions. Quoted units issued by InvITs and REITs must now be valued under the rules already applicable to quoted securities, while unquoted units are to be valued at net asset value, with stricter treatment prescribed where disclosure requirements are not met.

• 2026-09-23

  Finance Ministry appeals to bank unions to call off the 28 to 30 September strike over a five day work week

  The Ministry of Finance on 21 September 2026 appealed to employees of public sector banks and regional rural banks to refrain from a proposed three day strike from 28 to 30 September, called by the United Forum of Bank Unions over implementation of a five day banking week. The ministry said it had already met the unions' other main demand by keeping the Performance Linked Incentive scheme in abeyance, and pointed to measures including revised pay scales, an enhanced Staff Welfare Fund and improved transfer and promotion policies as evidence of continued engagement. The proposed strike dates coincide with the half yearly closing of banks on 30 September, a date significant for reconciliation, provisioning and treasury operations, meaning the disruption combined with the preceding weekend could effectively shut banking services for five days. Despite the appeal, union representatives said they could not call off the strike without a firm commitment on the five day week.

• 2026-09-22

  Indian refiners weigh cutting Russian crude cargoes for November after new US sanctions law

  Indian oil refiners are reassessing purchases of Russian crude for November delivery after a sweeping new US sanctions law targeting buyers of Russian oil took effect on 18 September 2026, reports said on 21 September 2026. India, the world's third biggest crude buyer, sourced more than half its imports from Russia in some recent months to counter high global prices, but top processors have begun seeking alternative cargoes over the past few days as the new law empowers the US president to impose tariffs of up to 100 percent on countries that continue buying Russian oil. Talks for November delivery cargoes typically begin in the last week of September, putting the next buying cycle squarely inside the period of uncertainty.

• 2026-09-22

  India's core sector output growth eases to 4.8% in August as coal and crude oil contract

  Government data released on 21 September 2026 showed the combined output of India's eight core industries grew 4.8 percent year on year in August, easing from 5 percent in July. Cement output rose 12.5 percent and electricity generation climbed 11.6 percent to a 27 month high, with iron ore up 5.5 percent, steel up 3.4 percent and refinery products up 2.6 percent, while coal contracted 3.8 percent, crude oil fell 3.6 percent, natural gas dropped 4.9 percent and fertiliser output declined 12.4 percent. The cumulative growth of the Index of Core Industries for April to August 2026 stood at 4.3 percent, against 2.4 percent in the same period last year.

• 2026-09-21

  LPG subsidy to require Aadhaar biometric authentication from 1 October

  The Ministry of Petroleum and Natural Gas announced on 19 September 2026 that domestic LPG consumers must complete Biometric Aadhaar Authentication to book subsidised refills at the regulated Retail Selling Price from 1 October 2026, after the original 30 June deadline was extended several times. The ministry said linking each connection to an Aadhaar authenticated consumer prevents diversion of subsidised cylinders for commercial use and removes duplicate or ineligible connections, and that consumers unable or unwilling to authenticate can still buy LPG but at the unsubsidised market price. As of 19 September 2026, 27.43 crore of India's domestic LPG consumers, or 89.9 percent, had completed the authentication, with the government's implicit monthly subsidy running at about Rs 210 per 14.2 kilogram cylinder against accumulated under recoveries of over Rs 62,000 crore for state oil marketing companies as of 31 August 2026.

• 2026-09-21

  FPIs pull Rs 2.45 lakh crore from Indian equities in 2026, already past all of 2025's outflow

  Foreign Portfolio Investors withdrew Rs 20,974 crore from Indian equities in September 2026 up to 18 September, data reported by Business Standard on 20 September 2026 showed, amid higher US interest rates and bond yields, elevated crude oil prices and a weakening rupee. The September selling took total FPI outflow from Indian equities in 2026 to Rs 2.45 lakh crore, already surpassing the Rs 1.66 lakh crore withdrawn during the whole of 2025. The rupee traded at a record low of around 95.92 to 95.96 per US dollar during the week, adding to the pressure on foreign investor sentiment.

• 2026-09-20

  Trump signs Russia sanctions law, clearing the way for up to 100 percent tariffs on India

  US President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on 18 September 2026, two days after the House of Representatives passed it by a vote of 262 to 159. The law authorises and expands sanctions, tariffs and prohibitions on Russia and extends existing sanctions on Iran, giving Trump discretion to impose tariffs of up to 100 percent on countries that continue buying Russian oil and gas, naming India and China among the major buyers who could be targeted. The law does not automatically impose the duty, leaving the tariff rate, the list of countries and any waivers to the President's own decision. India's Ministry of External Affairs said the country remains determined to protect its trade and economic interests and to secure energy for its 1.4 billion people through diversified sourcing based on evolving market dynamics.

• 2026-09-20

  Railways approves Rs 252 crore for Kavach 4.0 safety system across Lucknow Division

  Indian Railways on 19 September 2026 approved the rollout of Kavach Version 4.0, the indigenously developed Automatic Train Protection system, across 607.7 route kilometres of the Lucknow Division of North Eastern Railway, at a cost of Rs 252 crore. Kavach is designed to prevent Signal Passing at Danger by automatically applying brakes when a driver fails to respond to a stop signal, and the approval extends its coverage across the division's remaining unequipped sections. The approval was part of a wider set of safety and infrastructure projects cleared by the Railway Board the same day.

• 2026-09-19

  TRAI notifies termination charge on A2P calls to curb spam

  The Telecom Regulatory Authority of India notified the Telecom Commercial Communication Customer Preference (Third Amendment) Regulations, 2026 on 18 September, introducing a termination charge of up to five paise per minute on application to person, or A2P, calls. The charge is paid by the originating access provider to the terminating access provider, with the exact rate left to commercial negotiation between operators, to discourage bulk automated and spam calling. An A2P call is defined as a voice call initiated by an application, software system or automated platform without direct human dialling, covering autodialing, robocalls and pre recorded or artificial voice calls. Entities using A2P calling must now pre declare such use to their telecom provider and disclose the customer line identifiers involved, though calls made through designated regulated commercial communication number series remain exempt.

• 2026-09-19

  Government eases bulk sugar stockholding limit to 30 days for festive season

  The Department of Food and Public Distribution has doubled the sugar stockholding limit for bulk consumers from 15 days to 30 days of consumption ahead of the festive season, easing a tighter cap it had imposed from 1 September after a sharp price rise in August. The relaxation applies to industrial users consuming more than 10 tonnes of sugar a month for production or processing, but any stock held beyond the earlier 15 day limit must be sourced from imported sugar brought in under the Tariff Rate Quota or Advance Authorisation Scheme, not the domestic open market. The original order remains in force from 1 September to 30 November 2026.

• 2026-09-19

  Railways approves two Maharashtra rail projects worth Rs 990 crore

  Indian Railways approved two infrastructure projects in Maharashtra worth a combined Rs 990 crore. The 10.86 kilometre Chouk to Karjat section of Central Railway will be doubled at a cost of Rs 497 crore, expected to allow five additional passenger trains in each direction daily and add 18.35 million tonnes per annum of freight capacity. A new 38.21 kilometre line between Mukutban in Adilabad district and Gadchandur on South Central Railway, costing Rs 493 crore, will provide a shorter freight route for coal, cement and other commodities, with a capacity of 6.08 million tonnes per annum.

• 2026-09-19

  India draws nearly 12 billion dollars in investment proposals under Semicon 2.0

  Union Electronics and Information Technology Minister Ashwini Vaishnaw said the government has received investment proposals worth nearly 12 billion dollars under Semicon 2.0, the second phase of the India Semiconductor Mission, at the ongoing SEMICON India 2026 event in New Delhi. The commitments span semiconductor equipment, materials, gases, chemicals, assembly, testing, marking and packaging, and substrates, and are expected to be deployed over the next two to three years. Semicon 2.0 extends state support beyond chip fabrication and packaging to equipment, materials, design, research and talent development, with more than 600 companies from 52 countries taking part in the event.

• 2026-09-19

  PM distributes over 51,000 appointment letters at 20th Rozgar Mela

  Prime Minister Narendra Modi distributed more than 51,000 appointment letters to newly recruited candidates through video conferencing at the 20th edition of the Rozgar Mela, held simultaneously at 45 locations across the country. The new recruits are joining various central government ministries and departments, including Railways, Home Affairs, Health and Family Welfare, Revenue, Financial Services and Defence. With this edition, around 12.75 lakh appointment letters have been issued across all editions of the recruitment drive since it began.

• 2026-09-18

  PM Modi inaugurates SEMICON India 2026 at Yashobhoomi, over 600 companies from 52 countries take part

  Prime Minister Narendra Modi inaugurated the fifth edition of SEMICON India 2026 on 17 September 2026 at Yashobhoomi, New Delhi, jointly organised by the India Semiconductor Mission, the Ministry of Electronics and Information Technology and the global industry association SEMI. The three day conference and exhibition, running until 19 September under the theme Silicon to Systems: Building the Ecosystem, brought together more than 600 companies, nearly 300 of them international, from 52 countries across 15,000 square metres of exhibition space. In his address, the Prime Minister said the world is looking for new and trusted manufacturing destinations and that India is steadily preparing itself to meet this need. As of September 2026, India had approved 12 semiconductor fabrication and packaging units with a cumulative investment of more than Rs 1.64 lakh crore.

• 2026-09-18

  PM Vishwakarma scheme completes three years, hits 30 lakh artisan registration target

  The PM Vishwakarma scheme completed three years on 17 September 2026 and has achieved its registration target of 30 lakh beneficiaries among traditional artisans and craftspeople across 18 trades. The Central Sector Scheme, with an outlay of Rs 13,000 crore for 2023-24 to 2027-28, is built around three pillars, Samman, Samarthya and Samriddhi, offering recognition, skill upgradation, toolkit incentives, collateral free credit and digital transaction incentives. Within the three years, more than 24.37 lakh artisans have received basic skill training, over 18.16 lakh have been given toolkits, and more than 6.19 lakh collateral free loans worth about Rs 5,316 crore have been sanctioned to help beneficiaries buy inputs and upgrade tools.

• 2026-09-18

  Six companies list on mainboard in a single day, a record since at least 1996

  Six companies, LCC Projects, Rentomojo, Steamhouse India, Karamtara Engineering, Asset Reconstruction Company (India) and Manipal Payment and Identity Solutions, made their stock market debut on 17 September 2026, setting a record for the most mainboard listings on the BSE and NSE in a single day since at least 1996. The six companies had cumulatively raised about Rs 4,510 crore from investors in their initial public offerings between 9 and 11 September. Five of the six ended their debut session higher than their issue price, led by Karamtara Engineering's 38.6 percent gain, Rentomojo's 31.9 percent, Steamhouse India's 26.2 percent, LCC Projects' 18.3 percent and Manipal Payment and Identity Solutions' 1.99 percent, while the sixth, Asset Reconstruction Company (India), closed lower than its issue price.

• 2026-09-18

  Centre opens two day conference of state finance ministers on financing Viksit Bharat

  The Union Ministry of Finance opened a two day conference of state Finance Ministers and Finance Secretaries titled Financing India's Journey towards Viksit Bharat in New Delhi on 18 September 2026, chaired by Finance Minister Nirmala Sitharaman. The conference features three thematic sessions on the macroeconomic outlook, financing agricultural transformation and financing the energy transition, with a background paper circulated to examine the implications of GST 2.0 for state revenues. N K Singh, Chairman of the Fifteenth Finance Commission, delivered the keynote address at the inaugural session.

• 2026-09-17

  US House passes Russia sanctions bill that could impose 100 percent tariffs on India

  The US House of Representatives passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by a vote of 262 to 159 on 16 September 2026, sending the Bill to President Donald Trump for his signature. The legislation authorises the President to impose tariffs of up to 100 percent on the largest buyers of Russian oil and gas, a group that includes India and China, with the stated aim of cutting off revenue that funds Russia's war in Ukraine. The Senate had passed the same Bill by an 86 to 11 vote in August 2026. The Act is named for Senator Lindsey Graham, its lead sponsor, who died in July 2026.

• 2026-09-17

  Plea in Supreme Court challenges 0.4% merchant discount rate on UPI payments above Rs 2,000

  A plea has been filed in the Supreme Court challenging the Centre's 14 September 2026 notification permitting a merchant discount rate of 0.4 percent on UPI person to merchant transactions above Rs 2,000, effective from 15 October. The petition, filed by advocate Anjan Datta, contends that the levy amounts to an unauthorised charge on a public digital payments system. UPI transactions up to Rs 2,000 and all person to person transfers remain free of the charge, and small merchants receiving up to Rs 1 lakh a month through UPI QR codes are exempted from it.

• 2026-09-17

  Cabinet raises EPFO wage ceiling from Rs 15,000 to Rs 25,000 a month

  The Union Cabinet, chaired by Prime Minister Narendra Modi, approved raising the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation from Rs 15,000 to Rs 25,000 a month, effective from 17 September 2026. The decision is expected to bring more than 51 lakh additional employees within mandatory EPFO coverage, expanding their access to provident fund savings, pension protection under the Employees' Pension Scheme, and insurance cover under the Employees' Deposit Linked Insurance Scheme. This is the first revision of the ceiling in twelve years, since it was last raised from Rs 6,500 to Rs 15,000 in September 2014.

• 2026-09-16

  NPCI sets 0.4% merchant discount rate on UPI payments above Rs 2,000 from October 15

  The National Payments Corporation of India announced that a merchant discount rate (MDR) of 0.4 percent will apply to person to merchant UPI transactions above Rs 2,000, effective from 15 October 2026. UPI transactions up to Rs 2,000 will continue to remain free of charge. The MDR is not a tax and does not accrue to the government: the fee is distributed among banks, payment aggregators and other participants in the UPI payments chain. A committee of banks had been examining the structure of merchant charges on larger UPI transactions before the NPCI notification.

• 2026-09-16

  Chief Economic Adviser says high food inflation unlikely to persist, FY27 fiscal deficit target achievable

  Chief Economic Adviser V. Anantha Nageswaran said on 15 September 2026 that the high food inflation seen in August is unlikely to persist through the rest of the year, and that India's economic momentum remains intact despite global risks. He added that the Centre would be able to meet its fiscal deficit target of 4.3 percent of GDP for 2026-27 as estimated in the Union Budget.

• 2026-09-16

  Rural jobs scheme VB-GRAM G trails 2025 MGNREGA employment levels by 9% in August

  The Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-GRAM G, generated 11.03 crore persondays of rural employment in August 2026, a 9 percent decline from the 12.12 crore persondays generated under MGNREGA in August 2025, according to government data reported on 15 September 2026. This is a narrower shortfall than July 2026, when the new scheme's 9.18 crore persondays trailed July 2025's MGNREGA figure of 17.65 crore by 48 percent. Ministry officials attributed part of the dip to a 60 day pause in agricultural activity. Since VB-GRAM G's launch, 6,40,779 new Gramin Rozgar Guarantee cards have been issued across states and union territories, and workers can continue to use existing MGNREGA job cards to access work.

• 2026-09-16

  Crude oil price spike drags rupee to near 96 per dollar, Nifty falls 1.2%

  The Indian rupee fell 0.42 percent to close near 95.96 against the US dollar on 15 September 2026, extending its losing streak to five sessions, as Brent crude rose above 108 dollars a barrel amid escalating Houthi attacks on Saudi Arabia. The Indian crude basket rose to 128.70 dollars a barrel, adding to concerns over India's import bill. The Nifty 50 fell 1.19 percent to 23,118.60 and the Sensex fell 1.04 percent to 74,003.82, their lowest levels since early April, as rising crude prices and global bond yields sharpened concerns over inflation and interest rates.

• 2026-09-15

  TRAI examines Airtel and Jio complaints against Vodafone Idea over number portability

  Bharti Airtel and Reliance Jio have alleged that Vodafone Idea representatives contacted their customers while posing as staff of rival operators, warning them of tariff hikes, and separately restricted SMS requests to the short code 1900 used to generate unique porting codes in some telecom circles. The Telecom Regulatory Authority of India said it would examine the representations received from both operators, while Vodafone Idea has denied any wrongdoing, saying it has complied with all applicable rules and will present its position to the regulator. Mobile number portability, introduced in India in 2011, allows a subscriber to switch operators while retaining the same number.

• 2026-09-15

  Retail inflation climbs to 4.82 percent in August, above RBI's target for third month

  India's retail inflation, measured by the Consumer Price Index, accelerated to 4.82 percent in August 2026 from 4.45 percent in July, staying above the Reserve Bank of India's 4 percent target for a third consecutive month as food prices firmed. Rural inflation rose to 5.23 percent against 4.31 percent in urban areas, while the Consumer Food Price Index climbed to 5.95 percent from 5.52 percent in July, driven by sharp increases in the prices of onion, garlic and ginger. The reading is the highest recorded under the revised 2024 CPI series, and comes as the RBI projects inflation for 2026-27 at around 5 percent.

• 2026-09-14

  RBI rejects Tata Sons' plea to remain an unlisted private company

  The Reserve Bank of India has rejected an application by Tata Sons, the holding company of the Tata Group, seeking exemption from the mandatory stock exchange listing that applies to non banking financial companies classified in the Upper Layer under RBI's scale based regulatory framework. Tata Sons was placed in the Upper Layer category in September 2022, which required listing within three years, a deadline that lapsed in September 2025 without a listing taking place. In a communication dated 11 September 2026, the central bank asked Tata Sons to take steps to ensure full compliance with the applicable guidelines, effectively making a public listing of the conglomerate's holding company unavoidable.

• 2026-09-14

  India's forex reserves jump a record 44.9 billion dollars to all time high

  India's foreign exchange reserves surged by a record 44.9 billion dollars in the week ended 4 September 2026 to reach an all time high of 785.7 billion dollars, according to data released by the Reserve Bank of India. Foreign currency assets, the largest component of the reserves, rose by about 47.5 billion dollars to 648.2 billion dollars, while gold reserves fell by about 2.6 billion dollars to 113.8 billion dollars as prices dipped. The jump builds on inflows drawn in since the RBI opened a concessional foreign currency swap window for banks in June 2026, which has now brought in more than 136 billion dollars in new flows and pushed India past other economies to become the world's fourth largest holder of foreign exchange reserves.

• 2026-09-14

  Government notifies stricter e-commerce rules on dark patterns and pricing

  The Department of Consumer Affairs notified the Consumer Protection (E-Commerce) (Amendment) Rules, 2026 on 10 September 2026, which will tighten oversight of online marketplaces from 1 January 2027. E-commerce entities will have to comply with the 2023 Guidelines for Prevention and Regulation of Dark Patterns through a mandatory yearly self-audit and a publicly displayed compliance certificate, alongside stricter disclosure of search and ranking parameters and sponsored listings, a new requirement to show a genuine prior price before advertising any discount, and fuller disclosure of seller details and, for imported goods, the country of origin. The amendments replace the 2020 e-commerce rules and follow years of complaints about manipulative design and misleading pricing on Indian shopping platforms.

• 2026-09-13

  BRICS Declaration opposes unilateral tariffs and carbon border adjustment mechanisms

  The BRICS New Delhi Declaration voiced serious concern over the rise of unilateral tariff and non tariff measures inconsistent with World Trade Organization rules, and separately opposed carbon border adjustment mechanisms such as the European Union's when applied in a unilateral, punitive, discriminatory or protectionist manner. Members converged on a BRICS Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters, with some countries ready to sign subject to completing domestic processes, and agreed to work towards an annual joint customs enforcement operation against smuggling. The declaration also encouraged the BRICS Payment Task Force to keep developing fast, low cost and transparent cross border payment solutions to expand trade settlement in local currencies, though the grouping again stopped short of proposing a common BRICS currency.

• 2026-09-13

  Delhi Declaration endorses Russia backed plan for BRICS Grain Exchange and farmer network AGRIN

  The BRICS New Delhi Declaration backed continued work on a Russia championed BRICS Grain Exchange, a proposed digital platform first floated in 2023 to trade grain among member countries and eventually expand to other agricultural commodities, aiming to reduce reliance on grain trading platforms based in Europe and the United States. Leaders also agreed to establish the BRICS Agro Inputs, Genetic Resources and Information Network, a non binding and farmer centric platform for exchanging agricultural inputs and traditional knowledge, alongside a Global Forum on Farmers Rights in Seed Systems and a BRICS Network of Centres of Excellence on Agroecology and Regenerative Agriculture. The declaration also flagged food security and acute food price volatility, including fertiliser shortages, as priority concerns and called for stronger national food reserve systems and climate adaptive seed systems.

• 2026-09-12

  India's year long BRICS chairship delivers 20 sectoral outcomes ahead of the summit

  As the summit opened, India's year long 2026 BRICS chairship was reported to have produced 20 sectoral outcomes across trade, agriculture, energy and urban development, delivered through more than 350 ministerial and working group meetings held in 25 cities. Agriculture ministers agreed to set up BRICS Centres of Excellence on Agro Ecology for joint research on climate resilient farming, alongside a BRICS Network on Digital Agriculture to scale artificial intelligence based decision support and geospatial monitoring tools. On energy, members adopted guiding principles on energy storage and smart grids and launched a Digital Centre of Excellence for regulatory exchange, while on trade the chairship delivered an MSME cooperation portal, a startup and incubator network, a proposed BRICS Startup Innovation Fund and a 2026 to 2030 action plan on global value chains, alongside a BRICS Urban Mobility Hub and voluntary principles for climate resilient urban infrastructure.

• 2026-09-12

  US finalises steep anti dumping and anti subsidy duties on solar imports from India

  The United States Commerce Department finalised steep anti dumping and countervailing duties on solar cells and panels imported from India, Indonesia and Laos, after finding producers in these countries had dumped goods below fair value and benefited from unfair government subsidies. Indian producers face an anti dumping duty of 123.04 per cent and a countervailing duty of 126.09 per cent, with Indonesian and Lao producers facing comparable combined rates. The case was brought by the Alliance for American Solar Manufacturing and Trade, whose members include domestic manufacturers First Solar, Hanwha Qcells and Mission Solar Energy, and follows a pattern seen since the United States first imposed similar duties on Chinese solar products in 2012, which pushed manufacturing to other Asian countries now facing the same scrutiny.

• 2026-09-12

  Odisha's three day UAE investment roadshow draws Rs 2.43 lakh crore in proposals

  Odisha concluded a three day investment outreach in the United Arab Emirates on 11 September 2026, drawing proposals worth about Rs 2.43 lakh crore with the potential to create over 618,000 jobs, led by Chief Minister Mohan Charan Majhi. The roadshow generated 24 proposals, including 8 memorandums of understanding and 16 investment intents, after more than 50 business meetings with over 400 UAE based investors, sovereign funds and members of the Odia diaspora. The largest single commitment came from the Adani Group and Abu Dhabi's International Holding Company, which agreed to explore 14 projects worth about Rs 2.1 lakh crore, including a proposed Rs 50,000 crore hyperscale artificial intelligence data centre hub at Naraj and a Rs 40,000 crore coal to chemicals complex at Bedabahal.

• 2026-09-11

  RBI and SEBI launch Demat 2.0 pilot for tokenised corporate bonds

  Reserve Bank of India Governor Sanjay Malhotra and Securities and Exchange Board of India Chairman Tuhin Kanta Pandey launched the Demat 2.0 pilot for tokenised corporate bonds at the Global Fintech Fest 2026 in Mumbai on 10 September 2026. Three companies issued tokenised bonds under the pilot using distributed ledger technology, REC Limited and Larsen & Toubro each raising Rs 500 crore and IIFL raising Rs 25 crore, taking the total to about Rs 1,025 crore. Settlement for the tokenised bonds uses the central bank digital currency, the digital rupee issued by the RBI, which the regulators said allows faster and more transparent transactions than the conventional demat system. SEBI said the tokenisation framework could later extend beyond corporate bonds to equities, mutual fund units and electronic gold receipts.

• 2026-09-11

  RBI Governor unveils UPI Tap and Pay and the AI powered MyUPI platform

  At the Global Fintech Fest 2026 in Mumbai on 10 September 2026, RBI Governor Sanjay Malhotra unveiled UPI Tap and Pay, which lets users make near field communication based UPI payments by tapping a compatible smartphone on a point of sale terminal, permitting PIN less transactions up to Rs 5,000. The National Payments Corporation of India also launched MyUPI, a unified window showing a user's UPI transactions and Autopay mandates across banks and apps, including a Safety Switch that lets a user instantly decline UPI debit transactions if they suspect their account is compromised. Underlying these features is FiMI, Finance Model for India, a domain specific language model NPCI built to natively understand India's payment systems, transaction disputes and mandate management. Malhotra said trust takes years to build but can be lost quickly, and urged fintech firms to guard against risks from opacity, exclusion and cybersecurity.

• 2026-09-11

  Net SIP inflows hit a record share of gross investment in FY26 despite account closures

  Net inflows through Systematic Investment Plans reached about Rs 2 lakh crore in the 2025 to 2026 financial year, 56 per cent of the roughly Rs 3.5 lakh crore in gross SIP investments, the highest share in at least three years, according to data drawn from the Securities and Exchange Board of India's annual report. The strong net figure came even as SIP account closures rose during the year, implying outflows of about Rs 1.5 lakh crore did not translate into a sharp spike in redemptions. Mutual fund industry officials attributed the resilience to a growing long term investment mindset among retail investors, with the share of SIP investments older than five years rising to 31 per cent as of March 2026.

• 2026-09-10

  Cabinet approves eight railway multitracking projects worth Rs 20,804 crore across nine states

  The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved eight railway multitracking projects worth about Rs 20,804 crore on 9 September 2026, spanning 31 districts across nine states, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, West Bengal, Jharkhand, Odisha, Madhya Pradesh and Chhattisgarh. The projects will add roughly 1,196 km to the existing railway network and are targeted for completion by 2029-30. A southern cluster of five projects worth about Rs 10,021 crore covers 540 km across Tamil Nadu, Andhra Pradesh, Karnataka and Telangana and is expected to add about 47 million tonnes per annum of freight carrying capacity, while a second cluster of three projects worth about Rs 10,783 crore covers 656 km across West Bengal, Jharkhand, Odisha, Madhya Pradesh and Chhattisgarh and is expected to benefit around 56 lakh people across 4,790 villages.

• 2026-09-10

  Supreme Court sends SEBI's Vedanta buyback fraud case back to SAT for fresh hearing

  The Supreme Court on 9 September 2026 remanded to the Securities Appellate Tribunal (SAT) a dispute between the Securities and Exchange Board of India and Vedanta Limited over allegations that a Rs 5,725 crore Cairn India share buyback announcement was made without a genuine intention to complete it. A bench of Justices J B Pardiwala and K V Viswanathan held that release of the escrow amount deposited for the buyback does not, by itself, prevent SEBI from separately examining whether the company committed fraud under its Prohibition of Fraudulent and Unfair Trade Practices Regulations. The Court flagged an apparent contradiction in SEBI's own investigation, a February 2016 report that found no material impact on the share price from the announcement, against a March 2017 report that treated the same conduct as fraud, and directed SAT to decide the fraud question afresh within six months, examining trading data and relevant officials as needed.

• 2026-09-09

  National Horticulture Board freezes fresh subsidy applications for a month

  The National Horticulture Board, an autonomous body under the Ministry of Agriculture and Farmers' Welfare, suspended acceptance of fresh applications for grant of clearance under two of its subsidy schemes for one month with effect from 4 September 2026, according to a circular issued on 3 September. The move follows the Board's decision in August to bar sitting ministers, members of Parliament, state legislators and government officials from availing subsidies under these schemes, after media reports found that a Union minister of state and the family of a serving IAS officer had received subsidies for their own farms under a scheme administered by their own ministry. The suspended schemes cover commercial horticulture development and cold storage construction or expansion, and the Board said it needed the pause to verify pending cases and update its online application system before resuming fresh applications.

• 2026-09-09

  India's LPG imports from the US surge 254% in the April to June quarter

  India's imports of liquefied petroleum gas from the United States surged 254 percent to 2.6 billion dollars in the April to June quarter of 2026-27, even as crude oil imports from the US fell 57.5 percent over the same period, according to government trade data. The US share of India's total LPG imports rose above 50 percent over the six months to August, as disruptions to Gulf supplies linked to the West Asia crisis pushed Indian buyers to source more of the fuel from American exporters. The shift illustrates how the West Asia crisis has reshaped India's energy trade commodity by commodity, pushing buyers toward American LPG even as broader crude sourcing patterns moved differently.

• 2026-09-09

  Supreme Court dismisses Centre's plea to revive Rs 363 crore GST demand against Vodafone Idea

  The Supreme Court on 7 September 2026 dismissed the Centre's appeal seeking to revive a Rs 363 crore goods and services tax demand against Vodafone Idea, upholding a Bombay High Court ruling that had earlier quashed the demand. A bench of Justices J B Pardiwala and N Vinod Chandran questioned how tax proceedings could be initiated against Vodafone Mobile Services Limited after it had ceased to exist following its merger with another entity. The dispute arose after the Directorate General of GST Intelligence issued a show cause notice in August 2024 over the 2017 transfer of Vodafone Mobile Services' telecom tower business to ATC Telecom Infrastructure, seeking tax and penalty from a company the Bench noted no longer legally existed.

• 2026-09-08

  DGFT opens an API route for Certificates of Origin on the Trade Connect platform

  The Directorate General of Foreign Trade introduced an open application programming interface for the issuance and verification of Certificates of Origin on the Trade Connect e-Platform, notified through Trade Notice No. 25/2026-27 dated 7 September 2026. The facility lets exporters connect their own enterprise resource planning or accounting software directly to the DGFT system instead of re-entering the same details on the portal, and three interfaces have been provided, for authentication, for filing and receiving certificates, and for verifying issued certificates. It supports both preferential certificates, issued under free trade, regional and preferential trade agreements so that exporters can claim tariff concessions in the importing country, and non-preferential certificates, which serve customs clearance, compliance and trade remedy purposes without conferring any tariff benefit. The system applies the origin criteria and validation rules of the specific agreement chosen, covering arrangements such as SAFTA, the ASEAN India free trade agreement and the India UAE and India UK agreements.

• 2026-09-07

  57th GST Council meeting postponed to 7 October over BRICS Summit clash

  The 57th meeting of the GST Council, earlier notified for 12 September 2026 in New Delhi, has been postponed to 7 October 2026 because the capital will be hosting the BRICS Leaders' Summit on 12 and 13 September, making it impracticable to hold both events together. An officers' meeting will now be held on 5 and 6 October ahead of the Council meeting, which will be chaired as usual by Union Finance Minister Nirmala Sitharaman along with state finance ministers. The rescheduled meeting is expected to take up simplification of GST registration for large businesses and other pending compliance issues.

• 2026-09-06

  Coal stock redistribution emerges as fuel management dilemma for thermal power plants

  India's thermal power sector is confronting a fuel management dilemma in which generators that maintain coal inventories at prescribed norms risk being disadvantaged when limited domestic coal is redirected to plants that have fallen below their stock requirements. Government data shows coal stocks at thermal power plants stood at about 34.55 million tonnes, with another 113 million tonnes at pitheads or in transit, even as overall coal dispatches rose about 6 percent year on year to 354.7 million tonnes in the current financial year through July. Industry executives argue that while emergency redistribution protects grid reliability, it needs a clearly defined corrective mechanism so that prudent fuel planning is not turned into a commercial disadvantage.

• 2026-09-04

  India will finalise US trade pact only after a preferential tariff edge, says Piyush Goyal

  Commerce and Industry Minister Piyush Goyal said on 3 September 2026 that India would finalise its proposed Bilateral Trade Agreement with the United States only once Washington offers Indian exporters a preferential tariff rate compared with competing countries such as Vietnam, Bangladesh, Thailand and Indonesia. Speaking at a National Workshop on Leveraging Free Trade Agreements in New Delhi, Goyal said India's nine existing free trade agreements already give it preferential access to economies representing about USD 60 trillion of global GDP, nearly two thirds of world trade. He is expected to travel to the United States in late September for the G20 Trade Ministerial in Milwaukee and bilateral talks with US Trade Representative Jamieson Greer.

• 2026-09-03

  Delhi Cabinet passes Ease of Doing Business Bill, 2026

  The Delhi Cabinet approved the Delhi Ease of Doing Business Bill, 2026, on 2 September 2026, aiming to make regulatory approvals for enterprises in the capital simpler, faster and less costly. The Bill creates a single window online system, with the Delhi State Industrial and Infrastructure Development Corporation as the nodal agency, through which businesses can apply for approvals, registrations, licences and no objection certificates instead of visiting multiple offices. For low risk activities listed in Schedule 3 of the Bill, approvals will be granted instantly on self declaration, and registered enterprises will get relief from routine inspections for three years unless a serious complaint is received. The Bill will now be sent to the Union Ministry of Home Affairs for approval, since Delhi is a Union Territory with a legislature.

• 2026-09-03

  India Post Payments Bank marks 9th Foundation Day, launches DakPay Sound Box

  India Post Payments Bank marked its ninth Foundation Day on 1 September 2026 by launching the DakPay Sound Box, an audio confirmation device that lets merchants verify digital payments as they are received. The bank also introduced a Digital Insurance Technology Platform connecting customers to life, health and general insurance products, and a Digital Mutual Fund Platform for making investments digitally. IPPB, set up as a payments bank under the Department of Posts and launched on 1 September 2018, said it now serves about 13.25 crore customers across India, of whom 77 percent are in rural areas and 49 percent are women. The launches extend the postal network's role in delivering banking, insurance and investment services to underserved areas.

• 2026-09-03

  SEBI's modified nomination framework for demat accounts and MF folios takes effect

  A modified nomination framework from the Securities and Exchange Board of India, notified through a circular dated 29 May 2026, took effect on 1 September 2026. From this date, every new single holder demat account or mutual fund folio must carry either a nominee or a signed declaration opting out of nomination, while joint holdings remain exempt from the requirement. SEBI said the framework is intended to ease the transmission of investments to legal heirs and reduce the pool of unclaimed financial assets sitting in the securities market. The requirement applies to newly opened single holder accounts and folios rather than retrospectively freezing existing ones without a nominee.

• 2026-09-03

  Ahmedabad becomes third spoke airport under India's international Hub and Spoke framework

  The Ministry of Civil Aviation launched international hub and spoke flight operations from Ahmedabad on 1 September 2026, making it the third spoke airport after Varanasi and Amritsar under the framework that designates Delhi's Indira Gandhi International Airport as India's primary international hub. Under the arrangement, passengers travelling internationally from Ahmedabad complete check in, immigration and customs procedures at the spoke airport itself, with baggage transferred through so they do not need to clear immigration again at the Delhi hub. The government has cited Ahmedabad's role as a host city for the 2030 Commonwealth Games as one reason for prioritising it. The framework aims to make India a preferred hub for Indian travellers by 2030 and a leading global aviation hub by 2047, with the next phase expected to extend hub and spoke connectivity to 22 more airports including Surat.

• 2026-09-02

  India's GDP grows 7.8% in April to June quarter of 2026-27

  Government data released on 31 August 2026 showed India's real GDP grew 7.8 percent in the April to June quarter of 2026-27, up from 6.9 percent in the same quarter last year and above the Reserve Bank of India's own projection of 7 percent. Real GDP at constant prices was estimated at Rs 81.36 lakh crore, against Rs 75.46 lakh crore a year earlier, while nominal GDP rose 10.3 percent to Rs 88.27 lakh crore. Services grew 10 percent and gross capital formation rose 11.9 percent, with manufacturing up 9.2 percent, even as the economy absorbed the effects of the West Asia crisis. Prime Minister Narendra Modi described the growth as a collective national achievement.

• 2026-09-02

  Gross GST collections rise 14.8% to nearly Rs 2 lakh crore in August

  Government data released on 1 September 2026 showed India's gross GST collections rose 14.8 percent year on year to nearly Rs 1.99 lakh crore in August, lower than the Rs 2.11 lakh crore collected in July. Net GST revenue grew a more modest 8.3 percent to Rs 1.68 lakh crore, as refunds jumped nearly 68 percent to Rs 31,795 crore compared with the same month last year. Domestic transactions contributed about Rs 1.37 lakh crore of gross revenue, up 9.3 percent, while GST collected on imports rose 29 percent to Rs 62,604 crore. Cumulative gross GST collections for April to August of 2026-27 stood at Rs 10.43 lakh crore, up 11 percent over the same period last year.

• 2026-09-01

  Government notifies operational framework for Rs 1.27 lakh crore Semicon 2.0 scheme

  The Union government notified the operational framework for Semicon 2.0, an expanded Rs 1.27 lakh crore programme under the India Semiconductor Mission, on 31 August 2026. Unlike the first phase, the scheme widens eligibility to chip design startups, MSMEs, equipment and materials manufacturers, and research and training institutions, and puts semiconductor design and intellectual property at the centre of the strategy alongside fabrication, assembly and advanced packaging. Silicon wafer fabs can receive support of up to 40 percent of eligible capital expenditure, while chip design startups and MSMEs can access national electronic design automation tools and seed funding of up to Rs 15 crore.

• 2026-09-01

  India's fiscal deficit at 26.8% of FY27 target in April to July

  Government data released on 31 August 2026 showed India's fiscal deficit for April to July 2026 stood at Rs 4.55 lakh crore, or 26.8 percent of the full year target for 2026-27, an improvement from Rs 4.7 lakh crore in the same period last year. Net tax receipts rose to Rs 8.5 lakh crore from Rs 6.6 lakh crore a year earlier, while total government expenditure rose to Rs 17.6 lakh crore from Rs 15.6 lakh crore. The government has set its fiscal deficit target for 2026-27 at 4.3 percent of GDP, or Rs 16.96 lakh crore.

• 2026-08-30

  GST Council to hold 57th meeting on 12 September, first since last year's rate rationalisation

  The GST Council will hold its 57th meeting on 12 September 2026 in New Delhi, chaired by Union Finance Minister Nirmala Sitharaman, according to an office memorandum issued by the Council secretariat on 28 August. An officers' meeting will be held a day earlier, on 11 September, to prepare the agenda. This will be the Council's first formal meeting since it approved a major GST rate rationalisation in 2025, and the agenda is likely to include a proposal to simplify GST registration for large businesses that pass on more than Rs 2.5 lakh of tax credit a month.

• 2026-08-30

  Sitharaman pitches India as a manufacturing and innovation platform to Chicago investors

  Finance Minister Nirmala Sitharaman, addressing a high level Business Roundtable with investors and business leaders in Chicago on Friday (28 August 2026), invited global investors to set up manufacturing bases and technology and innovation centres in India. She said India's investment proposition rested on the convergence of scale, growth, talent, infrastructure and sustained reform, and urged investors to treat India as a platform to build for the world rather than only a market to serve. Sitharaman highlighted GIFT City, which had 1,250 registered entities as of June 2026 offering banking, fund management, reinsurance, aircraft and ship leasing and sustainable finance services, as a gateway connecting global capital with Indian opportunities. She is on a six day visit to the United States that includes the G20 Finance Ministers' meeting in Asheville, North Carolina.

• 2026-08-29

  India and Canada reiterate commitment to conclude trade deal by end of 2026

  Union Finance and Corporate Affairs Minister Nirmala Sitharaman and Canadian Minister of Finance and National Revenue Francois Philippe Champagne issued a joint statement on Friday (28 August 2026) reiterating both countries' commitment to conclude the India Canada Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026. The statement, issued after the inaugural India Canada Finance Ministers' Economic and Financial Dialogue in Toronto, said India had expressed readiness to begin negotiations on a Bilateral Investment Treaty at the earliest. The dialogue built on the commitment made by Prime Minister Mark Carney and Prime Minister Narendra Modi during their meeting in New Delhi in March 2026 to strengthen bilateral economic and financial cooperation.

• 2026-08-29

  India's foreign exchange reserves rise to record USD 729.3 billion

  India's foreign exchange reserves rose by USD 12.42 billion to a record USD 729.3 billion in the week ended 21 August 2026, according to data released by the Reserve Bank of India on Friday (28 August 2026). The Reserve Bank attributed the sharp rise to strong inflows under its concessional FCNR(B) swap window, due to close on 31 August 2026, and to revaluation gains, with foreign currency assets alone increasing by USD 9.48 billion during the week. The milestone comes weeks after reserves first crossed USD 707 billion, reflecting the continued build up of India's external buffers even as the rupee has faced pressure through the year.

• 2026-08-29

  SEBI bars Trafiksol ITS Technologies and its promoters from securities market for a year

  The Securities and Exchange Board of India (SEBI) on Friday (28 August 2026) barred Trafiksol ITS Technologies Limited and its promoters, Jitendra Narayan Das and Poonam Das, from accessing the securities market for one year and imposed penalties totalling Rs 1.05 crore, with Trafiksol fined Rs 30 lakh, Jitendra Das Rs 50 lakh and Poonam Das Rs 25 lakh. SEBI's investigation found that Trafiksol had inflated its 2023 to 24 revenue by Rs 22.01 crore through transactions routed via related entities, and identified fictitious purchases worth Rs 8.95 crore, in connection with the company's proposed Rs 44.87 crore SME initial public offering. The regulator directed the company and its promoters to pay the penalties within 45 days.

• 2026-08-28

  S&P affirms India's 'BBB' sovereign rating, flags fiscal slippage risk for FY27

  S&P Global Ratings on 27 August 2026 affirmed India's long term sovereign credit rating at 'BBB' with a stable outlook, about a year after upgrading India from 'BBB minus' to 'BBB' in August 2025, its first upgrade since 2007. The agency projected economic growth of around 6.6 per cent for the current financial year but flagged the risk of slippage in the Centre's fiscal deficit target for 2026 to 27, which is budgeted at 4.3 per cent of GDP. S&P said continued fiscal consolidation would be a key factor in any future upgrade to India's rating.

• 2026-08-28

  UPI completes 10 years, transaction volume up nearly 13,000 fold

  The Unified Payments Interface, launched by the National Payments Corporation of India on 25 August 2016, completed 10 years this week. The Union Finance Ministry said UPI's annual transaction volume rose from 1.78 crore in 2016 to 17 to more than 24,162 crore in 2025 to 26, a nearly 13,000 fold increase, while transaction value rose from about 0.07 lakh crore rupees to approximately 314 lakh crore rupees over the same period, a more than 4,000 fold rise. UPI is now operational in 11 countries, and the International Monetary Fund has recognised it as the world's largest real time payment system by transaction volume.

• 2026-08-27

  Piyush Goyal proposes India-Japan 'Shark Tank' style startup pitching series

  Commerce and Industry Minister Piyush Goyal, addressing a startup roundtable in Tokyo on 26 August 2026, proposed an India-Japan startup pitching series modelled on the Shark Tank format to connect young startups from both countries with investors and business partners, suggesting such sessions could be organised virtually using digital connectivity. He proposed a Japan-India deeptech capital corridor to channel larger pools of patient capital, particularly early stage funding, into these startups, and invited Japan's patient capital and precision engineering to partner with Indian firms. He called for greater cooperation between universities, incubators and venture funds in both countries.

• 2026-08-27

  India paid 22.5 billion dollars extra for fossil fuel imports in Hormuz crisis: CREA

  The Centre for Research on Energy and Clean Air (CREA) found that fossil fuel importing countries paid more than 330 billion dollars in additional costs in the six months since the Strait of Hormuz crisis began on 28 February 2026. India was the second largest payer among the 170 countries analysed, incurring an additional 22.5 billion dollars in fossil fuel import costs between March and August 2026, behind China's 35.5 billion dollars and ahead of the United States' 16.5 billion dollars. Crude oil accounted for 164 billion dollars of the additional cost with prices averaging 35 per cent above pre war expectations, while diesel and gasoil prices rose 59 per cent, gasoline 43 per cent and liquefied natural gas 60 to 75 per cent depending on the market. CREA noted that low and lower middle income countries paid an additional 1 per cent of their 2024 GDP on higher fossil fuel costs, more than twice the 0.45 per cent burden faced by high income countries.

• 2026-08-27

  Indian oil refiners to avoid vessels on Iran's Strait of Hormuz blacklist

  Iran announced a blacklist of 45 ships it said had broken its rules for crossing the Strait of Hormuz, warning it would take action, including fines, detention and confiscation of cargo, against any vessel transferring loads with them, through a newly set up Persian Gulf Strait Authority. At least three Indian oil refiners and a global energy major plan to stop using the blacklisted vessels, including for ship to ship transfers, citing security concerns, six months into the United States and Israeli war on Iran. The blacklist appears designed to impede the shuttle tanker runs that Gulf producers such as the United Arab Emirates and Saudi Arabia have used to move oil through Hormuz for ship to ship transfer in the Gulf of Oman.

• 2026-08-26

  Finance Minister Sitharaman begins nine day visit to Canada and the United States

  Union Finance and Corporate Affairs Minister Nirmala Sitharaman began an official visit to Canada and the United States on 25 August 2026, running until 2 September. In Toronto, she is set to participate in the inaugural India Canada Economic and Financial Dialogue with her Canadian counterpart Francois Philippe Champagne, covering macroeconomic developments, financial sector cooperation and bilateral investment opportunities. From 28 August she travels to Chicago, Asheville and New York, including a roundtable with investors and business leaders in Chicago. From 31 August to 1 September she will lead the Indian delegation at the G20 Finance Ministers and Central Bank Governors meeting in Asheville, North Carolina, held under the United States G20 presidency, before concluding the visit in New York with investor engagements.

• 2026-08-26

  National Shipping Board proposes adding 100 ships to India's merchant fleet

  The National Shipping Board held its first Sagar Samvad in New Delhi on 24 August 2026, themed around the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047. Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said India plans to add 100 ships to its merchant fleet over the next five years, while Minister of State Shantanu Thakur noted that India currently pays close to 75 billion dollars a year in freight to foreign shipping lines to move cargo including crude oil, gas, coal and urea. The Board proposed a five point roadmap covering fiscal reforms, assured cargo support, access to competitive financing, regulatory streamlining and improved ease of doing business. The Maritime Amrit Kaal Vision 2047 envisages investments of nearly Rs 80 lakh crore, with a goal of ranking India among the world's top five ship owning nations.

• 2026-08-26

  SEBI introduces an IT Resilience Index for stock exchanges and depositories

  The Securities and Exchange Board of India introduced an IT Resilience Index, called ITRI, for market infrastructure institutions such as stock exchanges, clearing corporations and depositories. The framework measures the robustness of critical IT systems on a 100 point scale across nine parameters, with availability and security carrying the highest weight at 20 points each, followed by integrity, governance, reliability and monitoring, business continuity, and modularity and flexibility at 10 points each, and scalability and incident handling at 5 points each. Market infrastructure institutions must develop an early warning system to detect possible deterioration in any parameter, and will compute the index on a half yearly basis, with the first computation covering the half year ending 31 March 2027, submitting a comparative analysis and corrective actions to their governing boards.

• 2026-08-25

  PMFME Conclave 2026 signs MoUs with APEDA, ONDC and NABKISAN

  Union Minister for Food Processing Industries Chirag Paswan inaugurated the PMFME Conclave 2026 and the PMFME Bazaar at the India Habitat Centre in New Delhi on Monday (24 August 2026), a two day event bringing together over 500 stakeholders under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme. The Ministry of Food Processing Industries signed three memoranda of understanding, with the Agricultural and Processed Food Products Export Development Authority (APEDA), the Open Network for Digital Commerce (ONDC) and NABKISAN Finance Limited, to widen export access, digital marketing and credit linkages for scheme beneficiaries. Over two lakh individual micro food processing enterprises have been credit linked under the scheme so far, about 80 per cent of them first generation entrepreneurs and 44 per cent women.

• 2026-08-25

  No shortage of sugar in India, retail prices to ease, says ISMA

  The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) said on Monday (24 August 2026) that there is no shortage of sugar in the country and that retail prices, which had risen due to speculative buying and weather linked production losses, are expected to ease. Average all India retail sugar prices stood at Rs 63.05 per kilogram, about 29 per cent higher than a month earlier, before the government's decision to allow duty free imports of one million tonnes of raw sugar and impose stockholding limits on dealers and bulk consumers began taking effect. ISMA estimated net sugar production for 2025 to 2026 at around 27.9 million tonnes against domestic consumption of about 28 to 28.5 million tonnes, with closing stock projected at around 3.5 million tonnes by the end of September.

• 2026-08-23

  RBI's forex swap facility draws $72.85 billion in inflows

  Data released by the Reserve Bank of India on 22 August 2026 showed its special USD-INR forex swap facility, introduced on 8 June 2026, had attracted total inflows of $72.85 billion as of 21 August 2026. FCNR(B) deposits accounted for $65.40 billion, nearly 90 per cent of the total, while Overseas Foreign Currency Borrowings contributed $4.86 billion and External Commercial Borrowings $2.59 billion. The window for FCNR(B) deposits closes on 31 August 2026, while the facility remains open for ECBs and OFCBs until 31 December 2026.

• 2026-08-22

  India's core sector growth eases to 5.4% in July as index is rebased

  India's core infrastructure industries grew 5.4 per cent year on year in July 2026, easing from 6 per cent in June but well above the 3.2 per cent recorded in July 2025, provisional data released on 20 August 2026 showed. Growth was led by coal, refinery products, cement, electricity and iron ore, while output of crude oil, natural gas and fertiliser declined during the month. From June the index has been rebased to 2022-23 from 2011-12, and iron ore was added, taking the count of core sectors to nine. Cumulative growth for April to July 2026-27 stood at 4.3 per cent, against 1.5 per cent in the same period last year.

• 2026-08-21

  Centre approves 11.19 lakh PMAY houses for Bihar

  Union Rural Development Minister Shivraj Singh Chouhan announced the approval of 11,18,937 pucca houses for poor families in Bihar under the Pradhan Mantri Awas Yojana, with an allocation of Rs 13,427 crore, at a state-level programme in Patna on 20 August 2026. Over the preceding two years, 24,30,327 houses had already been approved for the state at a cost of Rs 29,164 crore. Chouhan also announced that the Pradhan Mantri Fasal Bima Yojana will now be implemented in Bihar, giving farmers cover against crop losses from floods, drought and excess rainfall.

• 2026-08-20

  Cabinet approves four railway multitracking projects worth Rs 9,450 crore

  The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved four railway multitracking projects worth around Rs 9,450 crore, covering eight districts across West Bengal, Odisha, Andhra Pradesh and Tamil Nadu. The projects include the 173 kilometre Kharagpur to Bhadrak fourth line, the 75 kilometre Bhadrak to Haridaspur fourth line, the 72 kilometre Cuttack to Paradeep third and fourth lines, and the 90 kilometre Gummidipundi to Gudur third and fourth lines, adding nearly 410 kilometres to the network by 2030 to 2031. The government said the expansion would improve connectivity for around 60 lakh people across 6,448 villages and support additional freight movement of about 76 million tonnes a year.

• 2026-08-20

  Cabinet approves four laning of NH-22 in Bihar at Rs 3,590 crore

  The Cabinet Committee on Economic Affairs approved the upgradation of the Muzaffarpur to Sitamarhi to Sonbarsa section of National Highway 22 in Bihar to a four lane standard, at a total capital cost of Rs 3,590.73 crore. The 82.578 kilometre stretch will be developed on the Hybrid Annuity Mode and serves as a key feeder corridor connecting the India Nepal border at Sonbarsa with Muzaffarpur on National Highway 27. The project includes seven major bridges, including a 340 metre bridge over the Bagmati river, three railway over bridges and two flyovers, and is meant to ease congestion in Muzaffarpur, Runni Saidpur and other towns along the route.

• 2026-08-20

  Gujarat permits 12 hour shifts at Micron's Sanand semiconductor plant

  The Gujarat government has permitted Micron Semiconductor Technology India's Sanand facility to operate 12 hour work shifts, the first such approval for an industrial unit in the state. The approval was granted under the Occupational Safety, Health and Working Conditions Code, 2020, which allows state governments to exempt factories from certain provisions while ensuring employees do not exceed the statutory 48 hour weekly limit, with remaining days treated as paid leave, and applies only to workers who give voluntary written consent. Labour Minister Kunvarji Bavaliya said the move was meant to support ease of doing business and semiconductor investment, since chip assembly and testing run continuously in controlled cleanroom environments.

• 2026-08-19

  Government approves incentive scheme to speed up domestic PNG connections

  The government has approved an Incentive Scheme for Promotion of Domestic PNG Connections, effective from 1 September 2026 and rolled out in two tranches over six months. City Gas Distribution companies will receive an additional 200 standard cubic metres of cheaper, domestically produced APM gas for every incremental billed household piped natural gas connection above a threshold fixed for their area, replacing costlier imported LNG they currently use for CNG transport. The government said the resulting savings could cut the payback period on PNG connection capital spending from around ten years to about three, with India currently having roughly 1.74 crore domestic PNG connections.

• 2026-08-19

  Government approves 31 more electronics component projects worth Rs 7,877 crore

  The government approved 31 new projects worth Rs 7,877 crore under the Electronics Components Manufacturing Scheme, taking the total number of sanctioned projects to 106. The fresh approvals mark the first time the scheme has covered components such as filters, coils and speakers, along with raw materials like acetylene black and electrolyte additives, and are expected to generate production worth Rs 82,243 crore and create close to 10,000 jobs across ten states. Across all 106 sanctioned projects, ECMS now represents a total investment of Rs 69,548 crore, already exceeding its original target of Rs 59,350 crore, after its outlay was raised to Rs 40,000 crore in the 2026-27 Budget.

• 2026-08-18

  RBI advances FCNR(B) forex swap window deadline to 31 August

  The Reserve Bank of India has advanced the deadline for banks to raise Foreign Currency Non Resident (Bank) deposits under its special forex swap facility from 30 September to 31 August 2026, citing a strong response since the facility opened on 8 June. Banks may still enter into dollar rupee swaps with the RBI against these deposits until 11 September. The facility, which also covers External Commercial Borrowings and Overseas Foreign Currency Borrowings, had drawn total inflows of about USD 56.8 billion by 13 August, with FCNR(B) deposits alone accounting for USD 52.3 billion.

• 2026-08-18

  CBDT opens FAST-DS 2026 window for small taxpayers to disclose foreign assets

  The Central Board of Direct Taxes has notified the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026 under the Finance Act, 2026, giving eligible taxpayers a one time window from 16 August to 31 December 2026 to declare foreign assets or income not previously reported. A valid declaration brings immunity from further tax, penalty and prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. The scheme is aimed chiefly at smaller cases where overseas holdings went unreported due to inadvertence or a change in residential status, not deliberate concealment, and it does not apply where Black Money Act assessment proceedings have already concluded.

• 2026-08-17

  Mines and Minerals Amendment Bill clears Parliament

  Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, with the Lok Sabha clearing it on 12 August and the Rajya Sabha on 13 August. It amends the parent 1957 Act, letting holders of existing mining leases add critical minerals such as lithium, nickel, cobalt and graphite without extra fees, and removes the 50 per cent ceiling on sales from captive mines. The National Mineral Exploration Trust's scope is widened to also fund mine development, not just exploration.

• 2026-08-17

  India's forex reserves cross USD 707 billion, RBI data shows

  Reserve Bank of India data showed the country's foreign exchange reserves jumped by USD 14.14 billion in the week ended 7 August 2026 to touch USD 707 billion, the sharpest weekly gain since January 2026. Foreign currency assets, the largest component, rose to USD 574.6 billion, while gold reserves climbed to USD 108.7 billion. Reserves remain below the record USD 728.5 billion touched in February 2026.