CAG Report: Rs 26,602 Cr DMF Funds Misused in Odisha for Non-Mining Welfare Projects

CAG Report Flags 12,393 Acres Unutilised Industrial Land in Odisha; Violation of OGLS Act and RFCTLARR Act

The CAG has exposed severe underutilisation of industrial land in Odisha, with over 12,000 acres lying idle despite legal mandates under the OGLS Act (1983) and RFCTLARR Act (2013). The report also highlights connivance in unauthorised forest land use by an educational institution, raising serious questions about governance and accountability in land management. This is critical for understanding CAG's role in fiscal oversight and land acquisition laws.

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.

Tata Trusts’ 66% Stake & Affirmative Voting Rights under Articles 104B, 121: SC Verdict Explained

Tata Trusts, holding about 66% of Tata Sons, are challenging the reappointment of N Chandrasekaran as executive chairman, citing the affirmative voting rights of their nominee directors under the Articles of Association. The Supreme Court’s 2021 Tata-Mistry judgment upheld these special rights, making it the key legal backdrop to the current boardroom dispute. For exams, this news tests corporate governance, fiduciary duties, and the binding force of a company’s Articles.

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.

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.

CAG Flags Unrealistic DSR 2021 Rates: 93% CPWD Projects Awarded Below Estimates

CAG's audit of CPWD reveals that 93% of projects were awarded below estimated costs due to unrealistic Schedule of Rates (DSR 2021), leading to potential cost overestimation and undue benefits to contractors. This highlights systemic issues in public works estimation that impact budgetary accuracy and governance.

ED Identifies Recurring IBC Malpractices Including Section 29A Circumvention and Disproportionate Haircuts

The Enforcement Directorate (ED) has flagged misuse of the Insolvency and Bankruptcy Code (IBC) by defaulting promoters who use collusive resolution processes with disproportionately large haircuts to regain control of their companies. This comes amid growing concerns over low creditor recoveries (average 29% over five years) and legal tensions between IBC's moratorium/immunity provisions and the Prevention of Money Laundering Act (PMLA). Students must understand the conflict between resolution and recovery objectives, key sections (14, 29A, 32A), and the ED's intervention strategy.

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.