
Necessary Step Towards Agricultural Prosperity: The Significance of the Rabi MSP Revision
ndia’s agricultural price policy serves a purpose beyond supporting individual farmers: it helps manage the economic uncertainty inherent in food production.

ndia’s agricultural price policy serves a purpose beyond supporting individual farmers: it helps manage the economic uncertainty inherent in food production.

Micro, Small and Medium Enterprises (MSMEs) are a central component of India's productive economy, contributing significantly to output, manufacturing, exports and employment. They span a diverse range of enterprises across rural, semi-urban and urban areas and play an important role in generating livelihoods and integrating smaller firms into formal supply chains. According to the Economic Survey 2025–26, MSMEs account for 31.1% of GDP, 35.4% of manufacturing output and 48.58% of exports. As of August 2026, 9.16 crore enterprises were registered on the Udyam platform, employing more than 40 crore people across rural, semi-urban and urban India.

Mizoram, in northeast India, borders Myanmar, Bangladesh, and the Indian states of Assam, Manipur and Tripura, and is known for its scenic hills and rich culture. Aizawl is both its capital and largest city. The state spans 21,081 sq km and has a population of 10,97,206 as per Census 2011 (Office of the Registrar General & Census Commissioner, India, 2011), making it the second least populated state in India after Sikkim.

India's direct selling sector, encompassing multi-level marketing (MLM) companies selling wellness, cosmetics, and household products through networks of independent sellers rather than fixed retail outlets, operated for decades without a binding statutory framework. The only regulatory reference point before 2021 was the Model Framework for Guidelines on Direct Selling, issued by the Department of Consumer Affairs on October 26, 2016, following consultations with the Ministry of Finance, the Department of Industrial Policy and Promotion, and select states including Delhi, Andhra Pradesh, and Kerala.

The India International Bullion Exchange (IIBX) is India's first regulated gateway for the import and trading of gold and silver, operationalised at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. Its conceptual origin lies in the Union Budget 2020-21, in which Finance Minister Nirmala Sitharaman announced the government's intent to establish an international bullion exchange in an International Financial Services Centre (IFSC) (Ministry of Finance, 2020).

The Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS 2026) was introduced by the Ministry of Finance under Sections 135 to 142 of Chapter IV of the Finance Act, 2026, to provide a voluntary, one-time compliance opportunity for Indian resident taxpayers to regularize undeclared foreign holdings and overseas-sourced income (Finance Act, 2026).

Policy UpdateDivya Natarajan Background The City Finance Rankings is a Ministry of Housing and Urban Affairs (MoHUA) initiative that evaluates, recognises, and rewards India’s Urban Local Bodies (ULBs) on the quality of their financial health and their improvement in financial…