New Delhi, August 1: India's economic landscape saw several key developments over the past 24 hours, led by a 15.4% year-on-year rise in Goods and Services Tax (GST) collections to ₹2.11 lakh crore in July. Meanwhile, the Securities and Exchange Board of India (SEBI) clarified norms for the sale of unlisted company shares, while Government e-Marketplace (GeM) marked the beginning of its 10th Foundation Day celebrations.
GST collections rise 15.4% to ₹2.11 lakh crore in July
India's gross GST collections increased to ₹2,11,205 crore in July 2026, registering a 15.4% year-on-year growth from ₹1,83,065 crore collected in July 2025, according to provisional data released by the Finance Ministry. The strong growth reflects continued improvement in tax compliance and economic activity.
GeM begins 10th Foundation Day celebrations
The Government e-Marketplace (GeM) launched a 10-day celebration ahead of its 10th Foundation Day, unveiling a commemorative logo marking a decade of digital public procurement. The platform highlighted its role in strengthening transparent and efficient government procurement across India.
SEBI clarifies sale rules for unlisted company shares
Market regulator SEBI clarified that the sale of unlisted company shares through private arrangements by an existing shareholder to not more than 200 buyers in a financial year will not be treated as a public issue. The clarification aims to provide greater regulatory certainty for private transactions involving unlisted securities.
Crude oil prices climb in global markets
Global crude oil prices moved higher, with Brent crude trading 1.4% higher at $90.25 per barrel, while West Texas Intermediate (WTI) crude gained 2.6% to $85.77 per barrel during intraday trade.
Gold and silver prices decline
In the domestic bullion market, 24-carat gold fell 0.4% to ₹1,43,500 per 10 grams, while silver declined 1.1% to ₹2,17,930 per kilogram. On the Multi Commodity Exchange (MCX), gold futures for the August contract also traded lower.
Asian markets rally; Bank of Japan keeps rates unchanged
Asian equity markets ended higher, led by South Korea's Kospi, which surged following renewed buying in technology stocks. Japan's Nikkei 225 also posted strong gains. Meanwhile, the Bank of Japan kept its policy interest rate unchanged at 1%, while maintaining its economic outlook.
Rupee strengthens against the US dollar
The Indian rupee appreciated by 29 paise to close at ₹95.39 against the US dollar, supported by positive market sentiment and currency inflows.
