Applications for the LAMP Fellowship 2026-27 are closed. Shortlisted candidates will be asked to take an online test on January 4, 2026.
Highlights of this Issue
Repo rate kept unchanged at 5.5%
RBI’s Monetary Policy Committee voted to maintain the repo rate at 5.5%. The standing deposit facility rate, marginal standing facility rate and bank rate also remain unchanged.
Consumer Price Index inflation was 1.7% in the second quarter of 2025-26
Inflation in the second quarter of 2025-26 was lower than the corresponding quarter last year (4.3%). Food prices declined by 1.6% in the second quarter of 2025-26.
Cabinet approves terms of reference of the Eighth Central Pay Commission
While making its recommendations, the Commission shall keep in view the country's economic conditions, fiscal prudence, adequacy of resources and impact on state finances.
Comments invited on the Draft Electricity (Amendment) Bill, 2025
The draft Bill allows network sharing among distribution licensees operating in the same area. It mandates cost-reflective tariff and removal of certain cross-subsidies. It also provides for establishing an Electricity Council.
Cabinet approves a mission to boost domestic production of pulses
The Union Cabinet approved a Mission for self-sufficiency in pulses. The Mission will be implemented over a six-year period, from 2025-26 to 2030-31, with a financial outlay of Rs 11,440 crore.
Comments invited on Draft National Labour and Employment Policy
The draft Policy aims to increase female labour force participation rate, facilitate technology and green transitions, improve ease of compliance and formalisation, and achieve near zero workplace fatalities.
IT Rules on issuance of content removal orders amended
The amendments require senior-level authorisation for content removal, reasoned intimation, and periodic review of all such orders issued under the IT Rules, 2021.
Comments invited on draft IT Rules on synthetically generated information
The draft Rules mandate labelling of synthetically generated information. They also require users to declare if they are uploading synthetically generated information.
Amendments notified to PLI scheme for textiles
Key changes include reduction in minimum investment thresholds, a lower turnover criterion, and expansion of eligible product categories.
Draft Rules under the National Sports Governance Act, 2025 released
The draft Rules specify details for constitution of the National Sports Board, the National Sports Tribunal, and national sports governance bodies.
Standing Committees of Parliament have identified issues to examine
Topics include evaluation of DBT schemes for fertilisers, self-sufficiency of APIs for drugs, implementation of laws affecting the media, and census criteria for defining urban areas.
Macroeconomic Development
Shania Ali (shania@prsindia.org)
RBI maintains repo rate at 5.5%
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) voted to maintain the policy repo rate (the rate at which RBI lends money to banks for short-term needs) at 5.5%.[1] Other decisions of the MPC include:
The standing deposit facility rate (the rate at which RBI borrows from banks without giving collateral) has been kept unchanged at 5.25%.
The marginal standing facility rate (rate at which banks can borrow additional overnight funds from RBI) and the bank rate (rate at which RBI lends money to commercial banks for the long term) have also been kept unchanged at 5.75%.
RBI increased its projection for real GDP growth for 2025-26 from 6.5% to 6.8%.
The MPC decided to continue with its neutral stance.
CPI inflation averaged 1.7% in the second quarter of 2025-26
Consumer Price Index (CPI) inflation was 1.7% in the second quarter (July-September) of 2025-26, lower than the same quarter last year (4.3%).[2] In the first quarter (April-June) of 2025-26, CPI inflation was 2.7%.
Food prices declined by 1.6% in the second quarter of 2025-26, compared to a 6.8% rise in the corresponding quarter of 2024-25. In the first quarter of 2025-26, food inflation was 0.6%.
Figure 1: Monthly inflation in Q2 of 2025-26 (% change, year-on-year)
Sources: Ministry of Statistics and Programme Implementation; Ministry of Commerce and Industry; PRS.
Wholesale Price Index (WPI) inflation averaged 0.02% in the second quarter of 2025-26, lower than 1.8% in the corresponding quarter of 2024-25.[3] In the first quarter of 2025-26, WPI inflation was 0.3%.
Finance
Shania Ali (shania@prsindia.org)
Cabinet approves the terms of reference of the Eighth Central Pay Commission
The Union Cabinet approved the terms of reference of the Eighth Central Pay Commission.[4] Central Pay Commissions are constituted periodically to make recommendations on salaries and other service conditions of central government employees. The Eighth Central Pay Commission was announced in January 2025. The Commission is required to submit its report within 18 months of being constituted, keeping in view the following: (i) economic conditions in the country and the need for fiscal prudence, (ii) need to ensure adequacy of resources for developmental expenditure and welfare measures, (iii) unfunded cost of non-contributory pension schemes, (iv) possible impact on the finances of state governments as usually they adopt the recommendations with some modifications, and (v) the prevailing salaries and service conditions of central public sector undertakings and the private sector. The recommendations are likely to come into effect from January 1, 2026.
RBI announces several changes in banking regulations
RBI announced several measures in relation to the banking sector.[5] Key changes include:
Risk based premium framework for deposit insurance: Currently, banks are charged a premium of 12 paise per Rs 100 of assessable deposits regardless of their financial soundness. Assessable deposits are types of bank deposits that are covered under a deposit insurance system. RBI has proposed a risk-based premium model. This will help banks that are sounder to save significantly on the premium paid.
Review of capital market guidelines for banks: Capital market exposures (CME) of banks include investment in securities, lending against securities and lending to capital market intermediaries (CMI) such as stock brokers. These are subject to regulations including those related to sectoral exposure limits, single borrower limits, and margin requirements. Further, banks are generally not allowed to finance acquisition of shares.
RBI has released a draft of the updated CME guidelines for commercial banks. The draft outlines ceilings for CME for banks.[6] Banks may extend loans for acquisition of or against collateral of securities as per their approved policy. Loans are not permitted against certain securities such as partly paid shares, bonds and money market instruments issued by banks, and own securities. Banks may also lend to individuals to subscribe to shares during a public offering, provided that these borrowers contribute a minimum cash margin of 25%.
Loans to CMIs to fund their day-to-day operations must comply with the following provisions: (i) only CMIs registered and regulated by a financial sector regulator will be eligible, (ii) eligible securities and cash collateral should belong to the borrower, (iii) banks will not fund acquisition of securities by CMIs, and (iv) banks will not accept securities as collateral in which market making operations are carried out by CMIs. Market making operations provide liquidity in the market. Banks may now extend loans to Indian companies to finance acquisitions, subject to a specified threshold.
Similar guidelines have been issued for small finance banks.[7] Comments are invited until November 21, 2025.
Withdrawal of guidelines on enhancing credit supply for large borrowers: These guidelines were issued in August 2016 to address concentration risk arising from aggregate credit exposure of banks to a single large corporate borrower. It aimed to encourage such borrowers to seek funding from alternative sources. These guidelines are now proposed to be withdrawn.[8] Concentration risk at individual bank-level is addressed through a different framework.
Review of external commercial borrowing (ECB) framework: Amendments to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, have been proposed to: (i) expand the base of borrowers and lenders eligible for ECB, (ii) link borrowing limits to a borrower’s financial strength, (iii) propose raising of such debt at market determined rates, and (iv) simplify end-use restrictions, minimum average maturity requirements, and reporting requirements.[9]
Lending in rupee to persons outside India: Authorised Dealer banks in India and their overseas branches have been permitted to lend in Indian Rupees to persons resident in Nepal, Bhutan, and Sri Lanka to facilitate cross-border trade.[10]
SEBI invites comments on amendments to mutual fund regulations
The Securities and Exchange Board of India (SEBI) released a consultation paper on the proposed amendments to the SEBI (Mutual Funds) Regulations, 1996 (MF Regulations).[11],[12] Key changes proposed are:
Changes to levies by Asset Management Companies (AMCs): The amendments propose certain changes to charges levied by AMCs. These include: (i) allowing AMCs to charge differential expense ratios based on the performance of a scheme, (ii) removing the additional expense of 0.05% that could be charged on mutual fund schemes where exit load was applicable, (iii) increasing the first two slabs of the expense ratio of open-ended active schemes by 0.05%, and (iv) excluding statutory levies such as GST and stamp duty from expense ratio limits. Expense ratio refers to the annual fee a mutual fund charges to manage an investor’s money. Exit load is a fee charged by mutual funds upon withdrawal of units before a specified minimum holding period. Open-ended schemes do not have a fixed maturity period.
Management of non-pooled funds: AMCs may undertake investment management and advisory services for non-pooled funds by completing requisite registration with SEBI. Non-pooled funds refer to arrangements wherein investor money is not combined in a common pool, but is managed separately. In this case, AMCs will be subjected to compliance with additional conditions such as: (i) the unit providing such service shall operate as a distinct business unit with strict separation, (ii) the unit will institute mechanisms to prevent misuse of information obtained from mutual fund operations to benefit other client, and (iii) such an activity will be undertaken by the AMC only through a subsidiary.
Comments are invited by November 17, 2025.
PFRDA released consultation paper on enhancing the National Pension System
The Pension Fund Regulatory and Development Authority (PFRDA) released a consultation paper titled “Enhancing the National Pension System: Proposals for Flexible, Assured and Predictable Pension Schemes”.[13] The National Pension System (NPS) is a defined contribution scheme wherein the amount contributed is fixed and the pension payout depends on returns generated by investments. To address subscriber concerns related to adequacy of corpus and predictability of retirement income, PFRDA has proposed three schemes under NPS framework:
Pension Scheme-I: This scheme aims to maximise pension wealth through a mix of a step-up systematic withdrawal plan (SWP) and an annuity. The scheme requires a minimum accumulation period of 20 years, with no upper limit. Payouts begin with a monthly SWP at 4.5% of the corpus annually, increasing by 0.25% each year for 10 years. Then, beginning at age 70, an annuity is paid for at least 20 years and continues for life. Annuity refers to a regular periodic payment.
Pension Scheme-II: This scheme aims to provide a target pension with periodic adjustments with inflation-linked to the Consumer Price Index for industrial workers. It requires a minimum accumulation period of 20 years, with no upper limit, and provides for a decumulation period of 25 years. Decumulation phase refers to the post-retirement period during which the subscriber starts withdrawing money from accumulated investments. Upon the subscriber’s death, the pension would be transferred to their spouse, and subsequently to other family members.
Pension Scheme-III: This scheme introduces Pension Credits, where each credit assures Rs 100 per month post-maturity. It requires subscribers to provide inputs on the year of retirement, target pension amount, and security mix for investment. The accumulation period is limited to 15 years while decumulation period is one to five years. It also proposes a potential secondary market for trading pension credits.
Power
Ayush Stephen Toppo (ayush@prsindia.org)
Comments invited on draft amendments to the Electricity Act, 2003
The Ministry of Power has invited comments on the draft Electricity (Amendment) Bill, 2025.[14] The Bill seeks to amend the Electricity Act, 2003.[15] The 2003 Act consolidates laws related to generation, transmission, and distribution of electricity. Key features of the draft Bill include:
Network sharing among discoms: Under the Act, distribution licencees (discoms) operating in the same area must maintain separate networks. The Bill proposes to remove this requirement. It allows a discom to supply electricity using the network of another discom, subject to oversight by State Electricity Regulatory Commissions (SERCs). It mandates that every discom must provide open and non-discriminatory access to its network to other discoms, subject to payment of charges determined by the SERC.
Cost-reflective tariff and removal of cross-subsidy: The 2003 Act provides that retail tariff for electricity must progressively reflect the cost of supply of electricity and that cross-subsidies must be reduced in a specified manner. Cross-subsidy refers to the arrangement of one consumer category subsidising the consumption of another consumer category. The Bill instead requires that the tariff must reflect cost of supply of electricity. It also requires that cross-subsidies paid by manufacturing enterprises, railways, and metro be fully eliminated within five years of the commencement of the amendments.
Exemption from supply obligation: Electricity distribution licensees have a universal service obligation to supply power to all categories of consumers. This obligation also covers consumers permitted to source power directly from generators. These are consumers whose maximum power demand exceeds one megawatt. The Bill allows SERCs to exempt a discom from such obligation for such consumers, in consultation with the state government.
Establishment of Electricity Council: The Bill establishes an Electricity Council comprising union and state power ministers. The Council will advise central and state governments on policy measures and coordinate the implementation of electricity sector reforms.
Comments are invited until November 8, 2025.
Agriculture
Vaishali Dhariwal (vaishali@prsindia.org)
Cabinet approves Mission to boost domestic production of pulses
The Union Cabinet approved a Mission to boost domestic production and achieve self-sufficiency in pulses.[16] The Mission will be implemented over a six-year period, from 2025-26 to 2030-31, with a financial outlay of Rs 11,440 crore. Key features of the scheme are as follows:
Distribution of seeds: The Mission aims to develop and promote high-yielding, pest-resistant, and climate-resilient varieties of pulses. By 2030-31, it targets: (i) distribution of 126 lakh quintals of certified seeds to farmers, (ii) expansion of the area under pulses cultivation to 310 lakh hectares, (iii) achieving production of 350 lakh tonnes, and (iv) an improvement in yield to 1,130 kg per hectare. To support these goals, 88 lakh seed kits will be distributed free of cost to farmers. States will prepare five-year rolling seed production plans.
Post harvest infrastructure: The Mission seeks to strengthen post-harvest infrastructure by establishing 1,000 processing units. A subsidy of up to Rs 25 lakh will be provided for setting up processing and packaging units.
Assured procurement: The Mission provides for assured procurement of Tur, Urad, and Masoor under the Price Support Scheme, which aims to ensure stable prices for farmers. The National Agricultural Cooperative Marketing Federation of India and the National Cooperative Consumers’ Federation of India will carry out 100% procurement in participating states for the next four years from registered farmers.
Cabinet approves support prices for Rabi crops for marketing season 2026-27
The Union Cabinet approved the minimum support prices (MSP) for rabi crops for the marketing season 2026-27.[17] MSP refers to the assured price at which the central government procures crops from farmers. Wheat saw an increase of 6.6% and gram of 4%. MSP for safflower saw the largest increase of 10% over 2025-26 prices.
Table 1: MSP for Rabi crops for 2026-27
|
Crops |
2025-26 |
2026-27 |
% change |
|
Wheat |
2,425 |
2,585 |
6.6% |
|
Gram |
5,650 |
5,875 |
4% |
|
Lentil (Masur) |
6,700 |
7,000 |
4.5% |
|
Rapeseed Mustard |
5,950 |
6,200 |
4.2% |
|
Safflower |
5,940 |
6,540 |
10.1% |
Cabinet approves subsidy rates on Phosphatic and Potassic fertilisers
The Union Cabinet approved subsidy rates for phosphatic and potassic fertilisers for the Rabi season 2025-26 (October 2025 to March 2026).[18] The budgetary outlay for the subsidy is estimated to be around Rs 37,952 crore.
Labour
Vaishali Dhariwal (vaishali@prsindia.org)
Draft National Labour and Employment Policy released for public consultation
The Ministry of Labour and Employment released the draft National Labour and Employment Policy for public consultation.[19] The Policy aims to increase female labour force participation and achieve near zero workplace fatalities. The policy outlines seven objectives: (i) universal and portable social security, (ii) occupational safety and health, (iii) employment and future readiness, (iv) women and youth empowerment, (v) ease of compliance and formalisation, (vi) technology and green transition, and (vii) convergence and good governance. It also positions the National Career Service as Digital Public Infrastructure for employment through job matching and credential verification.
Major initiatives proposed include: (i) creation of a Universal Social Security Account integrating EPFO, Employees State Insurance Corporation, and e-SHRAM databases, (ii) risk-based inspections under the Occupational Safety and Health Code, 2020, (iii) convergence of Skill India, National Apprenticeship Promotion Scheme, and Pradhan Mantri Kaushal Vikas Yojana into a single skill-employment continuum, and (iv) expansion of childcare, entrepreneurship, and flexible work measures to increase women’s labour force participation to 35% by 2030. The policy also aims to ease compliance through a single-window digital compliance system and promote integration of AI into monitoring and governance capabilities.
The policy will be implemented in three phases (2025–27, 2027–30, post-2030) through a three-tier structure. This will comprise: (i) the National Labour and Employment Policy Implementation Council at the Union level, (ii) the State Labour Missions, and (iii) District Labour and Employment Resource Centres.
Communications
Ayush Stephen Toppo (ayush@prsindia.org)
IT Rules on issuance of content removal orders amended
The Ministry of Electronics and Information Technology has notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2025.[20],[21] These amend the IT Rules, 2021.[22] The 2021 Rules lay down the process through which online intermediaries, such as social media platforms, may be directed to remove or restrict access to content. Key features of the amendments include:
Senior-level authorisation for content removal: Under the 2021 Rules, an intermediary is required to disable access to any information stored, hosted or published in their platform upon receiving: (i) a court order or (ii) a direction by central or state government or its agencies. The 2025 Rules adds that these directions will only be issued by a senior officer not below the rank of joint secretary or equivalent, or where such rank is not appointed, a director or an officer of equivalent rank. In case of police authorities, only an officer of the rank of DIG or above will issue such directions.
Reasoned order: The amendments add that each direction for removal must specify the legal basis of the direction, nature of unlawful act, and the precise location (such as URL) of the content to be removed.
Periodic review: The 2025 Rules also add that such directions will be subject to a monthly review by an officer of the rank of Secretary or above to the central or the state government.
Comments invited on draft amendments to IT rules on synthetically generated information
The Ministry of Electronics and Information Technology has invited comments on the draft Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2025.[23] These seek to amend the IT Rules, 2021.22 The draft Rules introduce obligations for online intermediaries and users with regard to synthetically generated information. Synthetically generated information has been defined as any information that is artificially or algorithmically created, generated, modified or altered using a computer resource, in a manner that such information reasonably appears to be authentic. Key changes proposed include:
Labelling requirements: Platforms that enable creation or modification of synthetically generated information must ensure labelling and permanent unique identifier for such information. The label must be visibly displayed covering at least ten percent of surface area of the display. In case of audio content, the identifier must be during the initial ten percent of the duration of the audio. The intermediary should not enable modification, suppression or removal of such label.
User declaration for synthetically generated information and verification: A significant social media intermediary must: (i) require users to declare whether the information they upload is synthetically generated, (ii) deploy reasonable measures to verify such declarations with regard to the nature, format, and source of the information, and (iii) ensure that any confirmed synthetically generated content carries a prominent label.
Comments are invited until November 6, 2025.
Sports
Vaishali Dhariwal (vaishali@prsindia.org)
Comments invited on draft Rules under the National Sports Governance Act, 2025
The Ministry of Sports and Youth Affairs has released three set of draft Rules under the National Sports Governance Act, 2025, for public feedback.[24] These relate to: (i) appointment of members to the National Sports Board, (ii) constitution of National Sports Bodies and their elections, and (iii) appointments to the National Sports Tribunal.[25],[26],[27] Key features of these draft Rules include:
National Sports Board: The Act establishes a National Sports Board. The Board will grant recognition to the national sports bodies and register their affiliate units. The draft Rules specify that the Board will comprise a chairperson and two other members, appointed by the central government. A search-cum-selection committee will be constituted to recommend these appointments, headed by the Cabinet Secretary. Board members will hold office for three years, and will be eligible for reappointment for one more term, subject to the age limit.
National Sports Bodies: General body of all sports bodies will have at least four sportspersons of outstanding merit. The sports bodies will compile a list of male and female sportspersons before elections. Elections to the Executive Committee will be conducted through secret ballot. Electoral officers will be drawn from the National Sports Election Panel constituted by the central government.
National Sports Tribunal: The Act establishes a National Sports Tribunal to adjudicate sports-related disputes. The draft Rules specify that the Chairperson will hold office for four years, or until turning 70 years old. Members will hold office for four years or until turning 67 years old. All members will be eligible for reappointment for one more term, subject to the age limit.
Comments are invited until November 14, 2025.
Mining
Vaishali Dhariwal (vaishali@prsindia.org)
Intermediary timelines specified for execution of mining lease
The Ministry of Mines has notified amendments to the Mineral (Auction) Rules, 2015. These Rules have been issued under the Mines and Minerals (Development and Regulation) Act, 1957.[28],[29],[30] The 2015 Rules prescribe a timeframe of three years (extendable by two years) for executing a mining lease from the date of issuance of a letter of intent (LoI). The 2025 Rules add following intermediary timelines: (i) approval of the mining plan within six months from the issuance of LoI, (ii) provision of environment clearance within 18 months of the approval of the mining plan, and (iii) execution of the mining lease within 12 months of the issuance of environment clearance. For composite licences, execution will be required within 12 months of issuance of LoI. A specified level of processing must be completed within 36 months post execution. An amount of 1% of the bidder’s bank guarantee will be appropriated for each month of delay.
Industry
Ayush Stephen Toppo (ayush@prsindia.org)
PLI scheme for textiles amended
The Ministry of Textiles has notified amendments to the Production Linked Incentive (PLI) Scheme for textiles.[31],[32] The scheme was launched in 2021.[33] It aims to increase domestic production of certain products such as Man-Made Fibre (MMF) apparel, MMF fabrics, and technical textile products. Key changes include:
Reduction in investment threshold: Earlier, the scheme required a minimum investment of Rs 300 crore and Rs 100 crore from manufacturers for part one (large projects) and part two (medium-scale projects) of the scheme, respectively. The amendments reduce the thresholds to Rs 150 crore and Rs 50 crore, respectively.
Lower turnover criteria: To qualify for incentives, manufacturers were previously required to record a minimum 25% increase in the turnover over the previous year. The amendments reduce this criterion to 10% from the financial year 2025–26 (applicable from the second year onwards).
Expansion of eligible product categories: The amendments expand eligible product categories to include eight new categories under the MMF apparel and nine under the MMF fabrics.
Relaxation in company registration requirements: Earlier, applicants were required to set up new companies before the commencement of investment. The amendments remove this requirement and allow applicants to establish project units within existing companies.
Environment
Vaishali Dhariwal (vaishali@prsindia.org)
Emission intensity targets released for certain industries
The Ministry of Environment, Forest and Climate Change issued Greenhouse Gases Emission Intensity Target (GEI) Rules, 2025, under the Environment (Protection) Act, 1986.[34],[35] These Rules specify greenhouse gases emission intensity targets for industries in four sectors: (i) aluminium, (ii) cement, (iii) chemical processing, and (iv) pulp and paper. The Rules will facilitate compliance under the Carbon Credit Trading Scheme, 2023.[36] The scheme provides a market-based mechanism to regulate and trade carbon credits.
The Rules specify obligated companies and respective target years for compliance. The obligated companies must register under the Indian Carbon Market Framework. Companies will earn carbon credit certificates for achieving emission intensity levels below the set targets. They may use previously banked and purchased carbon credit certificates to meet the shortfall if they are unable to meet these targets. The Central Pollution Control Board may impose environmental compensation on any company failing to comply with these Rules. This compensation will be equal to twice the average price of carbon credit certificates traded in the respective compliance year. This compensation must be paid within 90 days of its imposition.
Transport
Atri Prasad Rout (atri@prsindia.org)
Rules regarding constitution of the National Road Safety Board notified
The Ministry of Road Transport and Highways issued the National Road Safety Board Rules, 2025 under the Motor Vehicles Act, 1988.[37],[38] The Act provides that the Board will advise the central and state governments on issues related to road safety such as: (i) standards of design, construction and maintenance of motor vehicles, and (ii) standards related to road safety, road infrastructure and traffic control. The Rules specify the organisational composition of the Board and related procedures.
The Board will consist of: (i) a chairman as appointed by the central government with at least 15 years of experience in fields such as highway engineering and road safety, (ii) six members from state governments and union territory administrations, (iii) two members representing Ministry of Road Transport and Highways, (iv) two members from the National Highways Authority of India, (v) one member from the National Highways and Infrastructure Development Corporation, and (vi) at least five more members with relevant experience as appointed by the central government. The chairman will have a term of three years, while members representing states will serve for two years on a rotation basis.
An officer of the Ministry, equivalent to the rank of a joint secretary, will serve as a member secretary to the Board. The Board will meet at least once in three months as determined by the chairman or the member secretary. It will also have the power to constitute working groups of professional experts to advise it on its functions.
Annexure
Parliament has constituted some of its Departmentally Related Standing Committees. The subjects identified for examination for 2025-26 by the Committees are given below.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] Monetary Policy Statement, 2025-26, Resolution of the Monetary Policy Committee, September 29 to October 1, 2025, Reserve Bank of India, October 1, 2025, https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=61332.
[2] Consumer Price Index Numbers on Base 2012=100 for Rural, Urban and Combined for the Month of September, 2025, Ministry of Statistics and Programme Implementation, October 13, 2025, https://www.mospi.gov.in/sites/default/files/press_release/CPI_PR_13oct25L.pdf.
[3] Index Numbers of Wholesale Price in India for the Month of September, 2025 (Base Year: 2011-12), Ministry of Commerce and Industry, October 14, 2025, https://eaindustry.nic.in/pdf_files/cmonthly.pdf.
[4] “Cabinet approves Terms of Reference of 8th Central Pay Commission”, Press Information Bureau, Ministry of Finance, October 28, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2183290.
[5] Statement on Developmental and Regulatory Policies, Reserve Bank of India, October 1, 2025, https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=61334.
[6] Reserve Bank of India (Commercial Banks - Capital Market Exposure) Directions, 2025 – Draft, Reserve Bank of India, October 24, 2025, https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=4762
[7] Reserve Bank of India (Small Finance Banks - Capital Market Exposure) Directions, 2025 – Draft, Reserve Bank of India, October 24, 2025, https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=4763
[8] Guidelines on Enhancing Credit Supply for Large Borrowers through Market Mechanism – Repeal Circular – Draft, Reserve Bank of India, October 1, 2025, https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=4732
[9] Draft – Foreign Exchange Management (Borrowing and Lending) (Fourth Amendment) Regulations, 2025, Reserve Bank of India, October 2, 2025, https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=4736
[10] Foreign Exchange Management (Borrowing and Lending) (Amendment) Regulations, 2025, October 6, 2025, https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12915&Mode=0.
[11] Consultation Paper on Comprehensive Review of SEBI (Mutual Funds) Regulations, 1996, Securities and Exchange Board of India, October 28, 2025, https://www.sebi.gov.in/reports-and-statistics/reports/oct-2025/consultation-paper-on-comprehensive-review-of-sebi-mutual-funds-regulations-1996-_97496.html.
[12] SEBI (Mutual Funds) Regulations, 1996, Securities and Exchange Board of India, https://www.sebi.gov.in/acts/mfregu.html.
[13] Consultation Paper on Enhancing the National Pension System: Proposals for Flexible, Assured and Predictable Pension Schemes, September 30, 2025, https://pfrda.org.in/en/web/pfrda/w/consultation-paper.
[14] Draft Electricity (Amendment) Bill, 2025, Ministry of Power, October 9, 2025, https://powermin.gov.in/sites/default/files/webform/notices/Seeking_comments_on_Draft_Electricity_Amendment_Bill_2025.pdf.
[15] The Electricity Act, 2003, https://www.indiacode.nic.in/bitstream/123456789/2058/1/A2003-36.pdf.
[16] “Union Cabinet Approves Mission for Aatmanirbharta in Pulses for 2025-26 to 2030-31,” Press Information Bureau, Cabinet, October 1, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2173547.
[17]“Cabinet approves Minimum Support Prices (MSP) for Rabi Crops for Marketing Season 2026-27” Press Information Bureau, Cabinet Committee on Economic Affairs, October 1, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2173566.
[18] “Cabinet approves the Nutrient Based Subsidy rates for Rabi 2025- 26 on Phosphatic and Potassic fertilisers” Press Information Bureau, Cabinet, October 28, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2183291.
[19] Shram Shakti Niti 2025, Ministry of Ministry of Labour and Employment, October 8, 2025, https://labour.gov.in/sites/default/files/draft_-_mole_le_policy_-_v1.1.pdf.
[20] The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2025, Ministry of Electronics and Information Technology, October 22, 2025, https://www.meity.gov.in/static/uploads/2025/10/90dedea70a3fdfe6d58efb55b95b4109.pdf.
[21] Government notifies amendments to Rule 3(1)(d) of the IT Rules, 2021 to enhance transparency, accountability and safeguards, Press Information Bureau, Ministry of Electronics and Information Technology, October 23, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2181719.
[22] The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, https://www.meity.gov.in/static/uploads/2024/02/Information-Technology-Intermediary-Guidelines-and-Digital-Media-Ethics-Code-Rules-2021-updated-06.04.2023-.pdf.
[23] The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2025, Ministry of Electronics and Information Technology, October 22, 2025, https://www.meity.gov.in/static/uploads/2025/10/38be31bac9d39bbe22f24fc42442d5d1.pdf.
[24] The National Sports Governance Act, 2025, Ministry of Youth Affairs & Sports, https://yas.gov.in/national-sports-governance-act-2025
[25] Draft National Sports Governance (National Sports Board) Rules, Ministry of Youth and Sports Affairs, October 15, 2025, https://yas.gov.in/sports/draft-national-sports-governance-national-sports-board-rules-2025-inviting-comments.
[26] Draft National Sports Governance (National Sports Bodies) Rules, Ministry of Youth and Sports Affairs, October 15, 2025, https://yas.gov.in/sports/draft-national-sports-governance-national-sports-bodies-rules-2025-inviting-comments.
[27] Draft National Sports Governance (National Sports Tribunal) Rules, Ministry of Youth and Sports Affairs, October 15, 2025, https://yas.gov.in/sports/draft-national-sports-governance-national-sports-tribunal-rules-2025-inviting-comments.
[28] The Mines and Minerals (Development and Regulation) Act, 1957, https://www.indiacode.nic.in/bitstream/123456789/19380/1/mmdr_act%2C1957.pdf.
[29] The Mineral (Auction) Second Amendment Rules, 2025, The Gazette of India, Ministry of Mines, October 17, 2025, https://egazette.gov.in/WriteReadData/2025/267001.pdf.
[30] Mineral (Auction) Rules, 2015, https://ibm.gov.in/writereaddata/files/11222021124835Mineral_Auction_Rules_2015%20updated%20upto%2002112021.pdf.
[31] “Ministry of Textiles Notifies Major Amendments in PLI Scheme for Textiles to Boost MMF and Technical Textiles Sectors”, Press Information Bureau, Ministry of Textiles, October 9, 2025, https://www.pib.gov.in/PressReleasePage.aspx?PRID=2176795.
[32] Production Linked Incentive (PLI) Scheme for Textiles – Amendments and Addition in the Scheme, Ministry of Textiles, October 9, 2025, https://pli.texmin.gov.in/frontend/images/Documents/Amendment%20&%20Addition-PLI%20for%20Textiles%20-%20Noti%20dt%2009.10.2025.pdf.
[33] Production Linked Scheme for Textiles, 2021, https://pli.texmin.gov.in/frontend/images/Documents/1.%20PLI%20Textiles%20Notification_24.09.2021.pdf.
[34] Notification of the Ministry of Environment, Forest and Climate Change, October 8, 2025, https://egazette.gov.in/WriteReadData/2025/266804.pdf.
[35] Environment Protection Act, 1986, https://www.indiacode.nic.in/bitstream/123456789/4316/1/ep_act_1986.pdf.
[36] Carbon Credit Trading Scheme, 2023, Ministry of Power, June 28, 2023, https://egazette.gov.in/WriteReadData/2023/246859.pdf.
[37] The Motor Vehicle Act, 1988, https://www.indiacode.nic.in/bitstream/123456789/1798/1/eng.pdf.
[38] National Road Safety Board Rules, 2025, Ministry of Road Transport and Highways, October 27, 2025, https://egazette.gov.in/WriteReadData/2025/267201.pdf.
|
DISCLAIMER: This document is being furnished to you for your information. You may choose to reproduce or redistribute this report for non-commercial purposes in part or in full to any other person with due acknowledgement of PRS Legislative Research (“PRS”). The opinions expressed herein are entirely those of the author(s). PRS makes every effort to use reliable and comprehensive information, but PRS does not represent that the contents of the report are accurate or complete. PRS is an independent, not-for-profit group. This document has been prepared without regard to the objectives or opinions of those who may receive it. |