CAG Report Flags ₹3.69 Lakh Crore Cess Transfer Shortfall Since 1974, Raises Parliamentary Accountability

Rajya Sabha Passes Appropriation Bill 2026 for ₹54,067 Cr Excess Expenditure (FY2022-23)

Rajya Sabha has cleared the Appropriation Bill, 2026, authorising ₹54,067.44 crore in excess expenditure from the Consolidated Fund of India for FY 2022-23. Two demands covered: ₹53,871 crore for debt repayment and ₹196.44 crore per a Railway Ministry court order. This is a key procedural event in parliamentary financial control every student of Indian polity must understand.

ED Registers 1,080 PMLA Cases in FY 2025-26, Conviction Rate at 0.93% Over 5 Years

ED registered 1,080 PMLA cases in FY 2025-26 — a four-year high — but conviction rate remains abysmally low at 0.93% (43 cases in 5 years). Income Tax Department also filed 2,127 prosecution cases with high acquittal rates. This data, tabled in Parliament, highlights enforcement effectiveness vs. judicial outcomes — a key UPSC/Banking exam topic.

RDI Fund: Govt Defends Conflict Safeguards; 62% of ₹2,192 Cr Loans Went to Panel-Linked Firms

The RDI Fund, created to support deep tech companies, faces controversy as 62% of first-round soft loans (₹2,192 crore) went to firms linked to selection panel members. The government defends safeguards including super-majority voting and 10% stake disqualification, noting the second cohort has only 1 of 13 such companies. Congress seeks a parliamentary review on August 13.

MSME Development Amendment Bill 2026 Passed: 50% Interim Payment, Faster Dispute Resolution

Lok Sabha passed the MSME Development Amendment Bill, 2026 without debate, tackling delayed payments with faster dispute resolution and empowering courts to order 50% interim payment to suppliers. MSMEs contribute 31% to GDP, 36% to manufacturing, and 41% to exports. The Bill is now cleared by Parliament.

Rajya Sabha Passes Mining Amendment Act 2026: States Barred from Taxing Mineral Rights; Odisha, Jharkhand Oppose

The Rajya Sabha has passed a key amendment to the Mines and Minerals (Development and Regulation) Act, 1957, which prohibits states from levying any tax or cess on mineral-bearing lands and operations. This move, aimed at ensuring uniform pricing, has sparked a major federal clash with mineral-rich states like Odisha and Jharkhand, who see it as an infringement on their fiscal autonomy and a threat to their revenue-dependent welfare schemes.

CAG Flags ₹3,161 Cr Power Subsidy Lapse & ₹3,217 Cr E-Procurement Irregularities in Delhi

The CAG report for 2022-23 exposes major flaws in Delhi's power subsidy scheme and e-procurement system, including wasteful subsidies to zero-consumption consumers and suspected collusive bidding. This is crucial for understanding CAG's role, subsidy targeting, and public procurement issues.

₹2,192 Cr RDI Fund for Deep-Tech: Conflict of Interest in Selection Panel Raises Questions

The government's ₹2,192 crore Research, Development and Innovation (RDI) fund for deep-tech faces conflict of interest allegations: 15 of 22 selected firms have investment ties to panel members. The article argues that disclosure and recusal are insufficient and demands structural safeguards like wider selector pool, academic evaluators, and published conflict records.

Parliamentary Panel Flags DDU-GKY Employment Gap; 18.38 Lakh Trained, 11.94 Lakh Placed

A parliamentary committee has found that many candidates trained under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) are not securing jobs or are underpaid, and fund utilization across major rural skilling schemes is poor. This highlights systemic skill-employment mismatch and the need for robust placement tracking and post-placement support.