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| IMC has enhanced its digital systems to incorporate new online features. To explore these updated processes, please visit our website: https://www.imcnet.org
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2
Feb
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Notification No. 12 /2026 - CUSTOMS
(Delhi)
G.S.R.... (E). In exercise of the powers conferred by the proviso to sub-section (1) of section 47 of the Customs Act, 1962 (52 of 1962)
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2
Feb
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Notification No. 13 /2026 - CUSTOMS
(Delhi)
G.S.R....(E). In exercise of the powers conferred by the proviso to sub-section (1) of section 47 and section 156 of the Customs Act, 1962
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INCOME TAX
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2
Feb
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Notification No. 16/2026
(Delhi)
S.O. 433(E).— In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961
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30
Jan
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Notification No. 14/2026
(Delhi)
S.O. 386(E).— In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Incometax Act, 1961
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30
Jan
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Notification No. 15/2026
(Delhi)
S.O. 399(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961
(43 of 1961)
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28
Jan
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Notification No. 8/2026
(Delhi)
S.O. 260(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the
Income-tax Act, 1961
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28
Jan
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Notification No. 9/2026
(Delhi)
S.O. 261(E).— In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the
Income-tax Act, 1961
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28
Jan
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Notification No. 10/2026
(Delhi)
S.O. 262(E).— In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the
Income-tax Act, 1961 (43 of 1961)
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28
Jan
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Notification No. 11/2026
(Delhi)
S.O. 332(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961)
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28
Jan
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Notification No. 12/2026
(Delhi)
S.O. 333(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961)
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28
Jan
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Notification No. 13/2026
(Delhi)
S.O. 334(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961)
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RBI
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28
Jan
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RBI/2025-26/197
(Delhi)
Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory
Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/198
(Delhi)
Reserve Bank of India (Small Finance Banks – Cash Reserve Ratio and
Statutory Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/199
(Delhi)
Reserve Bank of India (Payments Banks – Cash Reserve Ratio and Statutory
Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/200
(Delhi)
Reserve Bank of India (Regional Rural Banks – Cash Reserve Ratio and
Statutory Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/201
(Delhi)
Reserve Bank of India (Local Area Banks – Cash Reserve Ratio and Statutory
Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/202
(Delhi)
Reserve Bank of India (Urban Co-operative Banks – Cash Reserve Ratio and
Statutory Liquidity Ratio) Amendment Directions, 2026
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28
Jan
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RBI/2025-26/203
(Delhi)
Reserve Bank of India (Rural Co-operative Banks – Cash Reserve Ratio and
Statutory Liquidity Ratio) Amendment Directions, 2026
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INDIAN ECONOMY
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For 2026-27, the government has projected dividends of 3.16 lakh crore from the Reserve Bank of India (RBI) and public sector banks, 4% higher than the revised estimate of3.06 lakh crore in FY26.
Of this, the RBI had contributed 2.68 lakh crore in FY26, while banks added 36,000 crore.
The FY26 dividend ...
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The government’s gross borrowing through dated securities will be Rs 17.2 lakh crore in 2026-27, Finance Minister Nirmala Sitharaman announced in her Budget proposals.
The net borrowing from dated securities is estimated at Rs 11.7 lakh crore. The balance financing is expected to come from small savings an...
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The government has allocated over Rs 1.25 lakh crore for the next fiscal for the new and existing rural jobs guarantee schemes.
Structural Transition
The finance ministry has allocated Rs 95,692 crore for the Viksit Bharat-Guarantee for Rozgar Aajeevika Mission (Grameen) (VB-G RAM G), while keeping Rs 30,...
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Manufacturing PMI in January recovered after losing momentum in December. The HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 55.4 in January from a two-year low of 55.0 in December. Despite recovery business confidence has weakened
The January recevory signals a strong improvement in ove...
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MARKET & FINANCE
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Indian bonds fell sharply a day after the federal budget, with the 10-year benchmark bond yield spiking to its highest in nearly a year, as record-high government borrowings dampened the already weak investor sentiment.
The benchmark 6.48% 2035 bond yield jumped 8 basis points to 6.78% on Monday, its highe...
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GLOBAL CORPORATE
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BYD's vehicle sales fell by 30.1% in January from a year earlier, the fifth straight month of decline, as the Chinese electric vehicle maker navigates external uncertainties and tough competition at home.
The automaker sold 210,051 vehicles globally last month, a stock market filing on Sunday showed. The e...
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Oil prices fell 5% on Monday, after U.S. President Donald Trump said Iran was "seriously talking" with Washington, signalling de-escalation with an OPEC member to ease supply disruption concerns.
Brent crude futures were down $3.63, or 5.2%, at $65.69 per barrel at 0920 GMT. U.S. West Texas Intermediate cr...
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PRE-BUDGET
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Union Budget 2026 has redrawn the fine print on customs duties, quietly reshaping what Indians pay for everything from overseas shopping splurges and gaming consoles to cancer medicines and senior-care products. While some measures make high-value imports and essential items cheaper, others add incremental co...
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A much-awaited demand of taxpayers falling in two jurisdictions have been met by the finance minister Nirmala Sitharaman. Budget 2026 has proposed to extend the deadline for filing revised ITR by three months. However, this can be done by paying a nominal fee.
Fee on revised ITR filing after December 31
T...
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In Budget 2026, Finance Minister Nirmala Sitharaman said the target for capex will be raised to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for the current fiscal year and announced a slew of measures to boost infrastructure in the country.
The Finance Minister said that the government al...
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Finance Minister Nirmala Sitharaman on February 1 presented her record ninth Union Budget. Sitharaman laid out an economic roadmap that looks to be in continuity with targeted shifts aimed at growth, resilience and long-term competitiveness. Framing her speech around “three core kartavyas” guiding the governm...
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The Union Budget 2026 proposed a tax holiday until 2047 for foreign companies that provide cloud services to customers globally, using data centres located in India, signalling the government’s push to make the country a major hub for AI and digital infrastructure.
The big push on data centres comes at a t...
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The Union Budget has proposed a five-year tax exemption on global income for non-resident experts, as the government seeks to attract overseas professionals to work in India for longer periods.
Under the proposal, the global income of a non-resident expert, income not sourced in India, will be exempt from ...
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The Union Budget 2026-27 places a decisive bet on strengthening India’s manufacturing base, with a sharp focus on strategic sectors such as semiconductors, electronics, biopharma, rare earths, textiles, transportation, energy storage and capital goods.
To meet future demand in a tech-driven world, the gove...
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Artificial intelligence has been given a sharper policy push in the Union Budget, with targeted spending across semiconductor manufacturing, data centre infrastructure and AI software development, signalling a more integrated approach to building a domestic AI ecosystem.
On the hardware side, the governmen...
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The Union government of India on Sunday presented companies like Apple among others with a New Years gift. Finance Minister Nirmala Sitharaman on Sunday announced a landmark initiative where it would allow foreign companies to provide machines to their contract manufacturers in certain areas for five years w...
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At a time when the foreign portfolio investors are fleeing the Indian stock market in hordes, the Union Budget has proposed to tap persons resident outside India (PROI) aggressively by more than doubling their investment limits in equities.
Finance Minister Nirmala Sitharaman on Sunday proposed to increase...
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In an earlier article (“History doesn’t end today, our old compass has run its course”, IE, December 31, 2025), we examined India’s policy challenges in an unsettled global environment. This article revisits that framework. Assessing the Union Budget against the templates we had outlined, we find that it has ...
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For companies and promoters, the buyback tax regime continues to represent stability rather than change, with overall liabilities largely unaffected. Under the earlier system, buyback proceeds were treated as dividend income, requiring promoters to pay tax at 22%.
This was structured to prevent tax arbitra...
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Budget 2026-27 marks a decisive shift in India’s fiscal and tax policy narrative—from expansion and experimentation towards consolidation and credibility. Anchored around three kartavyas—accelerating growth, meeting citizen aspirations, and ensuring inclusion—it signals a clear directional intent: India is no...
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The Union Budget 2026–27 has brought important compliance relief for Non-Resident Indians (NRIs), especially those dealing with property transactions, return filing, and small business taxation in India. The proposals aim to reduce paperwork, simplify tax procedures, and provide more time and flexibility to m...
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For millions of taxpayers, Budget 2026-27 has quietly changed how and when income tax returns (ITRs) must be filed. While there was no change in tax slabs, the government has redrawn ITR timelines, linking deadlines directly to the ITR form you use.
In her Budget speech, Nirmala Sitharaman announced two ma...
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GLOBAL ECONOMY
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British businesses' confidence in the economic outlook has continued to improve from very weak levels, a survey for January showed, extending gains since finance minister Rachel Reeves' November budget imposed fewer immediate tax ...
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South Korea's factory activity expanded at the strongest pace in almost 1-1/2 years in January, as export demand growth surged to a near five-year high, a private sector survey showed on Monday.
The purchasing managers index (P...
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Asia's factory activity expanded in January as solid global demand lifted export orders, private-sector surveys showed on Monday, offering policymakers some assurance the hit from higher U.S. tariffs has run its course for now.
...
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The Philippine economy will bounce back this year with growth of at least 5%, supported by sound fundamentals and a solid performance in its key revenue sectors, the finance minister said on Monday.
The Philippine economy grew...
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Indonesia in January reported its quickest pace of inflation in nearly three years, its statistics bureau said on Monday, as it also released surprisingly strong export and import growth in December.
The inflation rate accelera...
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Russia's manufacturing sector showed signs of stabilisation in January, with the pace of contraction in output and new orders easing, although a recent increase in value-added tax (VAT) drove inflationary pressures higher, S&P Glo...
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In olive groves and vineyards dotted across Spain, sensors and drones paid for by Europe's largest recovery fund since the post-war Marshall Plan are gathering soil data to feed into AI models which will help farmers better manage...
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German retail sales rose slightly less than expected in December, increasing by 0.1% compared with the previous month, data showed on Monday.
Analysts polled by Reuters had predicted a 0.2% increase.
The federal statistics o...
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Spain's manufacturing sector began the year on a weak note, with new orders falling at their fastest rate in nine months despite a stabilisation in production, a survey showed on Monday.
The HCOB Spain Manufacturing Purchasing...
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Global inflation is expected to fall to 3.8% this year and to 3.4% in 2027, helped by softer demand and lower energy prices, the IMF chief said on Monday.
Managing Director Kristalina Georgieva said in a speech in the Annual Ar...
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INDIAN CORPORATE
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Tata Motors Passenger Vehicles Ltd (TMPVL) solidified its position as India’s second-largest carmaker in January 2026, outpacing rivals Mahindra & Mahindra (M&M) and Hyundai Motor India Ltd (HMIL) in the domestic passenger vehicle...
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Tata Communications has launched a new suite of platforms designed to support enterprises scaling artificial intelligence (AI) workloads across distributed environments.
The three new digital infrastructure platforms launched u...
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Power Grid Corporation of India (Powergrid) has reported an 8 per cent year-on-year rise in consolidated net profit to Rs 4,185 crore in the December 2025 quarter, driven by higher income.
The company’s total income was Rs 12,5...
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COMMERCIAL LAW
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The Indian government is actively conducting inter-ministerial discussions to increase the foreign direct investment (FDI) ceiling in state-owned banks from the current 20% to 49%, financial services secretary M. Nagaraju said on ...
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GST
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Gross GST collections rise 6.2% in January to over Rs 1.93 lakh crore. The increase in January GST collection was mainly on higher revenues from imports, according to PTI.
Total refunds declined 3.1% to Rs 22,665 crore. Net Goods and Services Tax (GST) revenues, however, grew 7.6% to about Rs 1.71 lakh cro...
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