Centre's fiscal deficit touches ₹7.14 lakh crore in H1 FY27 on elevated capital spending and subsidy outlays
Key Updates:
- The Centre's fiscal deficit in the first half of FY 2026-27 reached ₹7.14 lakh crore, or 42.1% of the full-year target, up from 36.5% (₹5.73 lakh crore) a year earlier, per Controller General of Accounts data released on Friday.
- The government has set a fiscal deficit target of 4.3% of GDP, or ₹16.96 lakh crore, for FY27.
- Total expenditure rose 10.7% year-on-year to ₹25.49 lakh crore by September, equivalent to 47.7% of the full-year budget estimate.
- Spending on major subsidies rose 10.1% to ₹2.23 lakh crore in April-September, with food subsidy up 16% and petroleum subsidy down almost 83%.
- Capital expenditure reached ₹6.55 lakh crore, or 53.6% of the full-year budget estimate of ₹12.22 lakh crore, compared to 51.8% a year ago.
- Capex grew 12.7% in H1 FY27, requiring a 16.2% growth rate in the second half to meet the budget estimate.
- The government received ₹18.35 lakh crore (50.3% of budget estimate) in total receipts up to September, including ₹12.76 lakh crore of tax revenue (44.5% of BE) and ₹4.8 lakh crore of non-tax revenue.
- Gross tax revenue rose 6.1% year-on-year in April-September despite a sharp fall in excise duty collection due to petrol and diesel excise cuts.
- Customs duty collections grew 16.5% in the first half.
- In September, the fiscal deficit was ₹4,164 crore, against a surplus of ₹25,030 crore a year earlier.
- ₹6.99 lakh crore was transferred to states as devolution of taxes, ₹67,658 crore higher than the previous year.
- The government reduced its market borrowing for the fiscal by nearly ₹1.2 lakh crore.
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Central public sector enterprises (CPSEs) achieved 51% of their FY27 capital expenditure target of ₹8.43 trillion, spending around ₹4.30 trillion during April-September, a rise of nearly 12% year-on-year. Capex by 63…
India's central government fiscal deficit stood at ₹7.1 lakh crore, or 41.9% of the full-year target, at end-August 2026, up from ₹6 lakh crore a year earlier. The Centre has set a fiscal deficit target of 4.3% of GDP…
Direct tax collections after refunds rose 13.2% year-on-year to Rs 13.38 lakh crore as of October 14, meeting 49.6% of the Budget's Rs 26.97 lakh crore direct tax target for FY27. Gross direct tax collections up to…
India's Foreign Exchange Reserves Fall to $719.748 Billion Amid RBI Dollar Sales and Resource Deployment
Key Updates:
- India's foreign exchange reserves fell by $1.269 billion to $719.748 billion, according to the RBI data reported on October 30, 2026.
- The reserves had previously reached an all-time high of $785.706 billion for the week ended September 4, driven by a special concessional swap for diaspora deposits.
- The decline in reserves is attributed to the deployment of Foreign Currency Non-Resident (Bank) (FCNR(B)) resources and dollar sales by the Reserve Bank of India (RBI) to defend the rupee.
- The value of gold reserves decreased by $2.65 billion to $103.15 billion during the week.
- India's reserve position with the International Monetary Fund (IMF) decreased by $4 million to $4.787 billion.
- Special Drawing Rights (SDRs) increased by $27 million to $18.605 billion.
- The overall reserves dropped by $5.011 billion to $721.016 billion in the previous reporting week ended October 16.
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India's foreign exchange reserves fell for a fourth consecutive week to $734.6 billion, down about $50 billion from the recent peak of $785.71 billion on September 4, per a footnote to Reserve Bank of India (RBI)…
India's foreign exchange reserves declined by $5.011 billion to $721.016 billion in the week ended October 16, according to Reserve Bank of India (RBI) data released on Friday. In the previous reporting week, reserves…
India's foreign exchange reserves fell by $8.578 billion to $726.027 billion in the week ended October 9, according to data released by the Reserve Bank of India (RBI). The decline followed a $12.952 billion drop in the…
The Reserve Bank of India recorded a record net purchase of $43.26 billion in the spot foreign exchange market during August. Foreign exchange reserves did not increase due to the central bank simultaneously undertaking…
Reserve Bank of India Data Shows Bank Credit Growth of 17.94% Surpassed Deposit Growth of 16.6%
Key Updates:
- Bank credit grew at an annual rate of 17.94% to reach ₹232.54 lakh crore as of October 15, 2026.
- Bank deposits grew at 16.6% to stand at ₹284.37 lakh crore as of October 15, 2026.
- The higher credit growth is attributed to surplus liquidity, concessional foreign currency deposits, and the festive season in India.
- System liquidity in the banking system ranged between ₹2 lakh crore and ₹4.5 lakh crore between October 1 and October 15.
- The average daily net absorption under the LAF increased to ₹7.8 lakh crore in September 2026.
- Bank investments in central and state government securities rose 9.64% year-on-year to ₹77.32 lakh crore as of October 15, 2026.
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The Reserve Bank of India (RBI) allowed banks to access its concessional dollar-rupee swap facility for FCNR(B) deposits exceeding USD 100 million without waiting for their designated weekly window. The swap facility…
Non-banking financial companies' (NBFC) credit growth accelerated to 15.8% year-on-year in August 2026 from 10% a year earlier, according to Reserve Bank of India (RBI) data. Credit to agriculture and allied activities…
Indian banks ended the first half of FY27 with year-on-year credit growth of 19.4% and deposit growth of 17.8%, taking the credit-to-deposit ratio to 81% as of September 30, 2026. Total bank credit stood at over Rs 229.9…
India's banking system deposits hit a record ₹284 trillion (about $2.99 trillion) in the second half of September, as per Reserve Bank of India (RBI) data. The RBI's discounted dollar swap window, announced in June to…
RBI Releases Sectoral Deployment of Bank Credit Data for September 2026
Key Updates:
- The Reserve Bank of India (RBI) released data on sectoral deployment of bank credit for September 2026, collected from 41 select scheduled commercial banks accounting for about 95 per cent of total non-food credit.
- Non-food bank credit grew by 19.1 per cent year-on-year as on the fortnight ended September 30, 2026, compared to 11.2 per cent a year earlier.
- Credit to agriculture and allied activities grew 19.5 per cent year-on-year, up from 8.9 per cent in the corresponding fortnight of the previous year.
- Credit to industry recorded a year-on-year growth of 19.5 per cent, compared with 7.7 per cent last year, with large and medium industries growing at an accelerated pace.
- Credit to the services sector registered a year-on-year growth of 28.3 per cent, supported by buoyant growth in NBFCs, trade, commercial real estate, transport operators and professional services.
- Credit to personal loans grew 17.3 per cent year-on-year, compared with 11.5 per cent a year ago, with housing and vehicle loans remaining resilient.
- Growth in loans against gold jewellery and education decelerated compared to last year, albeit remaining strong.
- With effect from December 31, 2025, the definition of last reporting fortnight was changed to the last day of the month under the Banking Laws (Amendment) Act 2025.
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Non-banking financial companies' (NBFC) credit growth accelerated to 15.8% year-on-year in August 2026 from 10% a year earlier, according to Reserve Bank of India (RBI) data. Credit to agriculture and allied activities…
The Reserve Bank of India (RBI) issued the Master Circular on Credit Facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs) on October 01, 2026 (RBI/2026-27/272), consolidating all circulars issued on the subject…
Indian banks ended the first half of FY27 with year-on-year credit growth of 19.4% and deposit growth of 17.8%, taking the credit-to-deposit ratio to 81% as of September 30, 2026. Total bank credit stood at over Rs 229.9…
India secured USD 1 billion from the International Finance Corporation (IFC) to provide long-term credit to MSMEs through banks and financial institutions. The facility offers loans up to seven years, addressing a…
Key Updates:
- Central Board of Indirect Taxes and Customs (CBIC) directed its field formations to immediately stop carrying out arrests under GST as an interim measure.
- The GST Council recommended withdrawal of arrest powers under GST by omission of Section 69 of the CGST Act, 2017.
- The proposed legislative amendments are to take effect from April 1, 2027.
- CBIC directed that show-cause notices will not be issued where the amount involved is below Rs 10,000.
- Conveyances can be intercepted only on the basis of specific intelligence authorised by an officer not below the rank of Joint Commissioner.
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The GST Council's Law Committee has proposed raising the monetary threshold for prosecution under GST law to ₹10 crore from the existing ₹5 crore, which was last revised in 2017. The Committee proposed reducing the…
The Central Board of Indirect Taxes and Customs (CBIC) notified changes in Central GST rules allowing small e-commerce sellers to declare an e-commerce operator's warehouse in another state or Union Territory as their…
The CBIC clarified that Section 74(1) or Section 74A(5)(ii) of the CGST Act cannot be invoked merely for non-payment of GST without specific evidence of fraud, wilful misstatement or suppression of facts with intent to…
The GST Council approved changes to GST return forms on October 8 to curb mismatches between sales reported by businesses and the tax they pay, a key trigger for tax notices. Draft revised forms will be uploaded on the…
Finance Ministry Constitutes High Level Committee on Banking for Viksit Bharat
Key Updates:
- The Finance Ministry has established the High Level Committee on Banking for Viksit Bharat to recommend structural, institutional, regulatory, and legislative reforms for the banking sector.
- The committee is chaired by Suresh N. Patel, who is a former Central Vigilance Commissioner.
- The committee includes three members: Shirish Chandra Murmu (Deputy Governor, Reserve Bank of India), Padmaja Chunduru (Former MD & CEO, Indian Bank), and N S Vishwanathan (Former Deputy Governor, Reserve Bank of India).
- The Joint Secretary (Banking) of the Department of Financial Services serves as the Member Secretary of the committee.
- The committee has been granted a tenure of six months to complete its mandate.
- The committee is tasked with creating a roadmap for AI and digital innovation in banking while implementing safeguards against cyber risks.
- The terms of reference include reviewing the Priority Sector Lending framework and the Lead Bank Scheme to enhance credit delivery efficiency.
- The committee will assess long-term capital requirements for banks, development financial institutions, and non-banking financial companies.
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The Department of Pharmaceuticals (DoP) has constituted a three-member committee to examine the effectiveness of the Uniform Code for Pharmaceutical Marketing Practices (UCPMP), including oversight and enforcement…
The Supreme Court rejected a six-month extension sought by its high-powered committee on the Aravallis and directed it to submit its final report by November 30, 2026. Chief Justice of India Surya Kant questioned whether…
The Reserve Bank of India (RBI) issued final norms requiring global systemically important banks (G-SIBs) operating in India to maintain a minimum leverage ratio of 3.5% from April 1, 2027. RBI rejected banks'…
Public sector banks recorded their highest-ever net profit of Rs 1.98 lakh crore in FY 2025-26, according to the finance ministry. The gross non-performing assets (GNPA) ratio of public sector banks fell to 1.93 per cent…
World Bank highlights India's rapid poverty reduction, noting extreme poverty fell from 27.1% to 2.6%
Key Updates:
- India lifted an estimated 496 million people out of poverty between 2011 and 2023.
- The share of the population living in extreme poverty declined sharply from 27.1% to 2.6% according to the World Bank's October 2026 Poverty and Equity Brief.
- The proportion of people living below the lower-middle-income poverty line of USD 4.20 per day, measured at 2021 purchasing power parity, fell from 57.7% to 16.1% during the period.
- The Multidimensional Poverty Index, measured by the Oxford Poverty and Human Development Initiative, fell from 53.8% in 2005-06 to 16.4% in 2019-21.
- Employment increased by 134 million people between 2017 and 2023, which was nearly twice the growth in the working-age population.
- The World Bank projects the poverty rate at the USD 4.20-a-day threshold could fall from 14.2% in 2026 to 12.1% by 2028.
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Pakistan remains among the world's 10 countries facing the worst food crises, according to a report by the international humanitarian organisation Action Against Hunger. The report cites persistent poverty, rising food…
The World Bank, in its report 'India and Artificial Intelligence: Seizing the Development Opportunity', placed India among the top 10 leading emerging-market performers on AI readiness. Private investment in AI in India…
Union Minister for Electronics and Information Technology, Railways, and Information and Broadcasting Shri Ashwini Vaishnaw launched the World Bank Group's World Development Report 2026: The Promise of Artificial…
The United Nations Conference on Trade and Development (UNCTAD), in its Trade and Development Report 2026, projected India to remain the world's fastest-growing large economy with a growth rate of 7.3% in 2026. UNCTAD…
RBI data shows large industry loans hit six-year high of ₹33 lakh crore
Key Updates:
- Reserve Bank of India (RBI) data released on October 30, 2026 shows large industry loans rose 16% to ₹33 lakh crore in the fortnight ended September 30, 2026, the highest in six years.
- The year-on-year growth rate of 16% was threefold compared with the 5% growth in the same fortnight of September 2025, when loans stood at ₹28.6 lakh crore.
- Overall bank credit grew 19.4% to ₹229.95 lakh crore in the fortnight ended September 30, 2026, compared with 8.9% growth a year earlier.
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Equity-oriented mutual fund schemes attracted net inflows of Rs 38,306.55 crore in September 2026, up nearly 31 per cent from Rs 29,328.62 crore in August, as per Association of Mutual Funds in India (AMFI) data. Monthly…
Life insurers’ first-year premium rose 20.6% year-on-year to ₹2.46 lakh crore during April–September of FY26, against ₹2.04 lakh crore in the corresponding period last year, according to data released by the Insurance…
Microfinance institutions (MFIs) constituted 43% of the ₹3.3 lakh crore loan portfolio balance in June 2026, according to TransUnion CIBIL data. The MFI share stayed at around 36% to 38% between June 2022 and June 2025…
Micro, Small & Medium Enterprises minister Jitan Ram Manjhi released ₹1,000 crore in margin money subsidy under the Prime Minister's Employment Generation Programme (PMEGP). The subsidy aims to support 11,333 new micro…
Bank of Japan Keeps Policy Rate at 1.25% as Underlying Inflation Reaches 2% Target
Key Updates:
- The Bank of Japan (BOJ) held its benchmark policy rate unchanged at 1.25% at the end of a two-day meeting on Friday, October 30, 2026, and indicated for the first time that underlying inflation has reached its 2% target.
- The rate decision was made by an 8-1 vote, with Hajime Takata dissenting in favor of a rate hike.
- More than 80% of economists expect another rate hike in December, and the BOJ said it is vital to keep inflation around the current level while warning of upside risks.
- The BOJ announced it would nearly triple the pace of selling its Exchange-Traded Fund holdings starting in January, at about ¥860 billion ($5.5 billion) per year, a pace that would take about 43 years to complete.
- The yen strengthened to around 157.12 per dollar from 157.52 just before the decision.
- Japan's benchmark rate is at a 31-year high; the BOJ last raised rates on September 18, three months after a June hike, the shortest interval between increases since 1990.
- The BOJ was the last of three major central banks to meet this week, with the Federal Reserve and European Central Bank also holding rates; last month all three raised rates in sync for the first time.
- Governor Kazuo Ueda's press briefing was scheduled for around 3:30 p.m. local time, where investors looked for signals on the next hike.
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The Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC) unanimously raised the repo rate by 25 basis points to 5.50% on October 7, 2026, the first rate hike since February 2023. The MPC changed its…
The Bank of Japan (BOJ) affirmed in a summary of opinions from its September 17-18 policy meeting that its policy focus has shifted to preventing inflation from overshooting the 2% target. The BOJ board voted 7-2 to…
The United States Federal Reserve held its key rate unchanged at about 3.9 per cent at its October 2026 meeting, saying inflation remains elevated above its 2 per cent target and that holding off allows accumulation of…
The Bank of Japan (BOJ) raised its main interest rate from 1% to 1.25% on Friday, a level not seen since 1995. The BOJ has hiked rates six times in the last two and a half years, beginning from minus 0.1% in 2024.
Government Extends Customs Duty Exemption on Cotton Imports till December 31, 2026
Key Updates:
- The Centre extended the exemption from customs duty on cotton imports by two months till December 31, 2026, via a Gazette notification; the waiver was earlier scheduled to expire on October 31.
- India had initially removed the 11% import duty on cotton from June 1 to October 31 to augment supplies during the lean season and support the textile industry.
- Cotton is trading above ₹9,000 per 100 kg, higher than the government's minimum support price of ₹8,717 per 100 kg for the new season.
- India's cotton production in 2026-27 is estimated below 29 million bales, while demand is expected to exceed 34 million bales.
- The stock-to-use ratio is around 31%, the lowest level in five years.
- India's cotton imports rose 63% year-on-year to $1.1 billion during the first six months of FY27.
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The Government of India has extended the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme up to December 31, 2026, with existing rates and value caps unchanged. RoDTEP benefits apply to exports by…
India's merchandise exports to the UK rose 8% year-on-year to $2.43 billion in August-September 2026, the first two full months after the India-UK Comprehensive Economic and Trade Agreement (CETA) came into force on July…
India extended the deadline for duty-free imports of 10 lakh tonnes of raw sugar by two months, from October 31 to December 31, via a notification issued by the Directorate General of Foreign Trade (DGFT). The duty-free…
The government extended the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme by three months till December 31, 2026, with existing rates and value caps unchanged. The extension covers exports by…
IRDAI designates November 2026 for month-long insurance grievance resolution drive
Key Updates:
- Insurance Regulatory and Development Authority of India (IRDAI) declared November 2026 as 'Grievance Resolution Month' across the insurance industry to expedite pending policyholder complaints.
- As of March 2026, approximately 2.21 lakh insurance-related cases were pending before Consumer Commissions and Judicial Courts, with 72.49% pending over a year.
- Around 11 lakh cases were pending before the Motor Accidents Claims Tribunal (MACT) as per IRDAI data.
- IRDAI upgraded its Business Analytics Platform (BAP) to integrate health regulatory returns and Unique Identification Number (UIN) generation for new health insurance products.
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The Insurance Regulatory and Development Authority of India (IRDAI) released a consultation paper on September 1, 2026, proposing a Public Insurance Registry (PIR) as Digital Public Infrastructure for the insurance…
The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹1 crore penalty on IndusInd Bank, acting as a corporate agent, for lacking an adequate insurance-specific grievance redressal mechanism for…
The Department of Administrative Reforms and Public Grievances (DARPG) released the 53rd monthly CPGRAMS report on Central Ministries/Departments performance for September 2026, recording 2,38,579 grievances redressed.…
Ministry of Labour and Employment Establishes National Social Security Board for Gig and Unorganized Workers
Key Updates:
- The Ministry of Labour and Employment has notified the National Social Security Board (NSSB) for unorganized, gig, and platform workers.
- The NSSB is established under the Code on Social Security, which came into force in November 2025.
- The NSSB is mandated to advise the Central Government on designing, implementing, and monitoring social welfare schemes for workers.
- The board's composition includes representatives from central and state governments, prominent aggregator companies, employers, civil society organizations, and workers' unions.
- The NSSB is required to meet at least thrice a year to deliberate on policies related to these workers.
- The Social Security Code merges nine existing Social Security Acts into a single framework to ensure universal social protection for all workers.
- The Social Security Code promotes ease of doing business through digital records, decriminalization, and a technology-driven inspector cum facilitator system.
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Karnataka has approached the Supreme Court against the Karnataka High Court Division Bench judgment that directed authorities to consider registering motorcycles as transport vehicles and issuing permits for bike taxis.…
Pension Fund Regulatory and Development Authority (PFRDA) is working to open National Pension System (NPS) accounts for gig and platform workers listed in the e-shram database. PFRDA chairman S Raman said the e-shramik…
Prime Minister releases 24th instalment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme
Key Updates:
- Prime Minister Narendra Modi released the 24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Banaskantha, Gujarat.
- The government transferred over Rs 18,690 crore to more than 9.34 crore farmers across India.
- Beneficiaries in Odisha received Rs 3,000 crore as part of this nationwide instalment.
- Financial assistance was provided to over 35.38 lakh farmers in Odisha through Direct Benefit Transfer (DBT).
- Chief Minister Mohan Charan Majhi participated in the event virtually from Bhubaneswar during a state-level PM-Kisan Utsav.
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The Maharashtra government released the third list of 3,51,192 farmers eligible under the Puneashlok Ahilyadevi Holkar Loan Waiver Scheme on October 12, taking the total published eligible farmers to 24.67 lakh for…
The Union Cabinet approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from 2026-27 to 2030-31. The scheme has a financial outlay of ₹3.15 lakh crore for the extended period.
Union Minister Shivraj Singh Chouhan handed over the first instalment of 3 lakh houses worth ₹3,600 crore to Andhra Pradesh under Pradhan Mantri Awas Yojana-Gramin 2.0 at Burripalem village in Guntur district on October…
Micro, Small & Medium Enterprises minister Jitan Ram Manjhi released ₹1,000 crore in margin money subsidy under the Prime Minister's Employment Generation Programme (PMEGP). The subsidy aims to support 11,333 new micro…
Indian government approves Rs 40,000 crore project to build eight next-generation stealth corvettes for the Navy
Key Updates:
- The Cabinet Committee on Security (CCS), headed by Prime Minister Narendra Modi, approved a project worth over Rs 40,000 crore to build eight Next-Generation Corvettes (NGC) for the Indian Navy.
- A contract is expected soon with Kolkata-based Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard Limited (GSL), with deliveries expected to begin by 2030.
- The warships are based on an indigenous design developed in-house by the Navy, will be high-speed and agile with a speed of around 30 knots, and will complement the existing four Kamorta-class corvettes.
- The NGC programme will bolster anti-surface warfare, anti-submarine warfare and coastal warfare capabilities, and provide persistent surveillance across the Indian Ocean Region.
- The original Acceptance of Necessity for the project was granted by the Defence Acquisition Council in June 2022 at an approximate cost of Rs 36,000 crore.
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The Ministry of Statistics and Programme Implementation (MoSPI) monitors 1,853 ongoing Central Sector infrastructure projects with a total latest cost of ₹37.56 lakh crore as of September 2026, across 17 Central…
Bharat Coal Gasification and Chemicals Ltd (BCGCL), a joint venture between Coal India Ltd and Bharat Heavy Electricals Ltd, has begun ground construction activities for its ₹25,000 crore coal gasification project in…
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared capital acquisition proposals of the Defence Forces worth around ₹2.12 lakh crore on October 26, 2026. For the Indian Army, the…
The Centre extended the tenure of Enforcement Directorate (ED) Director Rahul Navin by one year, from August 13, 2026 to August 13, 2027. The extension continues beyond his scheduled retirement on July 31, 2027.
India's SEBI Signs MoU with Bank of England for Cross-Border Clearing Cooperation
Key Updates:
- The Securities and Exchange Board of India (SEBI) and the Bank of England (BoE) signed a memorandum of understanding (MoU) to strengthen regulatory cooperation and information exchange concerning SEBI-recognised clearing corporations, announced on October 28, 2026.
- The MoU establishes a framework for cooperation between the two regulators regarding central counterparties, in accordance with their respective laws and regulations.
- Under the MoU, the Bank of England can place reliance on SEBI's regulatory and supervisory activities while safeguarding the financial stability of the United Kingdom.
- The agreement aims to facilitate international clearing activities through cross-border regulatory cooperation and information sharing.
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Securities and Exchange Board of India (Sebi) and European Securities and Markets Authority (ESMA) signed an MoU to strengthen cooperation on central counterparties (CCPs). The MoU replaces an earlier pact signed on June…
Asian Development Bank grants $139.55 million loan to Puducherry for urban infrastructure and water system upgrades
Key Updates:
- The Asian Development Bank (ADB) approved a $139.55 million loan to Puducherry to improve urban infrastructure and municipal governance.
- The funding, under the Puducherry Integrated Urban Livability Improvement Project, aims to support the development of climate-resilient water supply and sanitation infrastructure.
- The project includes upgrading 100 kilometers of water supply network and laying 80 kilometers of new pipelines.
- The plan involves building 270 kilometers of underground sewer network and rehabilitating 80 kilometers of existing sewer network.
- A new sewage treatment plant with a capacity of 50 million liters per day is to be established.
- The ADB will also upgrade urban public spaces by constructing 4.5 kilometers of pedestrian walkways accessible to persons with disabilities.
- The ADB Country Director for India, Mio Oka, stated that the project marks the bank's first engagement in the Union Territory of Puducherry.
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The screening committee of the Department of Economic Affairs (DEA) approved Telangana's Telangana Climate Resilient Urban Transformation Initiative (Telangana-CRUTI) for external assistance of ₹5,000 crore (€500…
The Government of India and the Asian Development Bank (ADB) signed a $230 million loan agreement for the Chennai Climate-Resilient Water Security and Sewerage Project. The project will construct more than 170 km of…
Key Updates:
- The Telecom Regulatory Authority of India (TRAI) on October 30, 2026 released draft 'Guidelines on Responsible Use of AI in Telecommunication Networks and Provision of Telecommunication Services' for stakeholder comments, requiring service providers to adopt board-approved AI policies, set up governance and safety committees, and report serious AI-related incidents to the regulator.
- Under the draft framework, entities must classify AI systems into high-, medium- and low-risk categories based on significance to network operations, financial and operational outcomes and implications for consumers.
- Each entity must frame an internal AI policy approved by its board of directors, covering risk classification, deployment approvals, incident management, human oversight, data governance and consumer grievance redressal, with all AI systems subject to predefined human oversight.
- AI-related incidents will be classified into critical, high, moderate and low severity, with critical and high-severity incidents mandatorily reported to TRAI in a prescribed format, manner and timeframe.
- Telecom companies must maintain central databases of AI incidents and consumer complaints involving AI-related harm, with mechanisms for investigation, mitigation and resolution.
- TRAI said entities will be accountable for the outcomes of AI systems deployed in their networks and services irrespective of whether the AI is developed internally, procured or outsourced, and the guidelines aim to ensure consistent implementation of the India AI Governance Guidelines in the telecom sector.
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TRAI launched the revamped MyCall mobile application to enable consumers to assess and report voice-calling experience and quality. The app allows consumers to rate voice calls on a 1-to-5-star scale and report issues…
TRAI released its Recommendations on the Authorisation Framework for Application-based Linear Television Distribution (ALTD) Services on 26 October 2026. The recommendations follow a reference from the Ministry of…
The United States and China agreed on September 25 to establish a bilateral communication channel to handle artificial intelligence incidents, following a White House summit between Donald Trump and Xi Jinping. The two…
The Reserve Bank of India (RBI) issued an advisory on October 19 directing banks, payment system operators and other regulated entities to treat their technology environments as compromised until forensically cleared…
ICAR-IARI trials show iron ore tailings boost crop yields and cut fertilizer use in agriculture
Key Updates:
- ICAR-Indian Agricultural Research Institute (ICAR-IARI) signed a long-term memorandum of understanding with ArcelorMittal Nippon Steel (AMNS), running until 2029, for research on using iron ore tailings in agriculture.
- Preliminary studies since 2024 showed crop yields improved by 10-15 per cent and chemical fertilizer use fell by 20 per cent in paddy, wheat, brinjal and lady's finger cultivation with valorised iron ore tailings.
- The team characterised six batches of AMNS iron ore tailings and found them free of toxic heavy metals but rich in iron.
- Experiments at the AMNS site in Chhattisgarh used soil mixed with 5-50 per cent iron ore tailings, with paddy trials run for two seasons and wheat tested in pots.
- Scientists used biological consortia of iron-solubilising bacteria and fungi, since tailings nutrients are mostly in less-soluble oxide forms, to improve uptake of iron and zinc by plants.
- Nearly 12 per cent of India's cultivable land is iron deficient and 49 per cent of soils are zinc deficient; the project aims to improve iron and zinc content in crops through biofortification.
- Initial pot experiments used a 600 kg per hectare formula, and large-scale trials on ICAR-IARI plots were set to begin from November, including farmer trials in 10 villages in Chhattisgarh using organic amendments.
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India released a draft steel policy for public consultation targeting 604 million metric tonnes of steel capacity by 2047, up from around 220 million tonnes at present. The policy aims to cut the sector's average…
The Ministry of Agriculture & Farmers Welfare will launch the nationwide ‘Khet Bachao Abhiyan – Rabi 2026’ campaign from 22 October to 30 November 2026 to promote sustainable agriculture, improve soil health and…
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Bombay High Court stops notification of estimated Scheduled Tribes population in Goa, impacting reserved seats
Key Updates:
- The Bombay High Court at Goa issued an interim order restraining the Census Commissioner from notifying the estimated Scheduled Tribes population in the state.
- The legal challenge was brought by petitioner Edwin Lucio Fernandes against the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Act, 2025.
- The interim order is likely to put the process of reserving four seats for Scheduled Tribes in the upcoming Legislative Assembly elections on hold.
- The court questioned the Census Commissioner's presumption that 9.9 percent of Goa's population is Scheduled Tribe, noting the Commissioner could not ascertain current population figures.
- Goa Chief Minister Pramod Sawant stated that the state government will urge the Central Government to approach the Supreme Court to protect the interests of the Scheduled Tribe community.
Connects with 4 related updates for revision context.
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