Windfall Tax Hiked on Diesel (₹15.5/L) and ATF (₹14.5/L), Petrol Levy Cut to ₹2.5/L

New UPI MDR: Flat Rs 5 Charge on Railway Bookings Above Rs 2,000 from Oct 15, 2026

From October 15, 2026, UPI payments above Rs 2,000 for railway tickets will attract a flat Rs 5 Merchant Discount Rate (MDR) instead of the general 0.4% fee. Crucially, this charge is on the merchant side and will not be passed to passengers. This special category concession makes railway ticketing cheaper to process than regular merchant payments.

Anti-Dumping Duty on Chinese TiO2: DGTR Final Findings (Aug 3, 2026) - Centre Assures KMML, TTPL

The Centre has assured Kerala of imposing anti-dumping duty on Chinese titanium dioxide following DGTR's final findings. This protects PSUs like KMML and TTPL from low-cost imports. Key for Prelims: DGTR process, anti-dumping mechanism, and dates.

Govt Cuts BCD on Crude Edible Oils (Palm, Soy) to Curb Inflation Ahead of Festivals

The Union Government has reduced Basic Customs Duty (BCD) on major crude edible oils (including palm oil) to moderate prices during the festive season. This move, announced on Sept 24, 2026, aims to counter rising international edible oil prices and domestic inflationary pressures, but has sparked protests from edible oilseed farmers who see it as a threat to their livelihoods.

RBI Net Sells $14.9 Bn (Jan-May 2026) for Rupee Stability; FCNR(B) Swap, ECB Boost Inflows

RBI's net sale of $14.9 billion in the first five months of 2026 underscores its interventionist approach to curb excessive rupee volatility, a key topic for economy-focused exams. The accompanying measures like the FCNR(B) swap facility and ECB liberalisation are crucial for understanding forex management and capital inflows.

CBDT's SAKSHAM NUDGE Campaign: ₹9,493 Cr Additional Tax from 1.25 Cr Updated ITRs

The CBDT's NUDGE campaign (now SAKSHAM NUDGE) has yielded ₹9,493 crore in additional tax from 1.25 crore updated ITRs in FY 2024-25 and 2025-26. This data-driven, non-intrusive compliance approach is a major shift from post-facto enforcement to preventive tax collection, a key theme for UPSC GS3 (Tax Reforms) and Banking exams.

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.

Taxation and Other Laws (Amendment) Bill 2026 Allows MDR on UPI: Subsidy Falls to ₹2,000 Cr in FY27

UPI, currently free for users, may become chargeable after the government introduced the Taxation and Other Laws (Amendment) Bill, 2026. The Bill allows the government to notify transactions that can attract Merchant Discount Rate (MDR), potentially ending the zero-MDR regime. For students, this is a key economy/polity topic linking digital payments, financial inclusion, and fiscal policy.

FAST-DS 2026: Income Tax Dept Nudges Taxpayers to Disclose Foreign Assets by Dec 31

The Income Tax Department has begun emailing taxpayers who may hold undisclosed foreign assets, urging them to use the FAST-DS 2026 disclosure window (open till Dec 31, 2026). This one-time compliance scheme is crucial for small taxpayers like students, NRIs, and tech employees holding ESOPs or overseas accounts, with penalties up to ₹1 lakh or 30% tax plus additional tax.