The Ministry of Ports, Shipping and Waterways announced on 23 October 2026 that the Sagarmala Finance Corporation Limited (SMFCL), India's first dedicated maritime Non Banking Financial Company, has opened its corporate office in New Delhi. SMFCL provides long-term financing for port-led development, shipbuilding, and coastal infrastructure, having already disbursed Rs 5,107 crore as of 30 September 2026.
Who it affects
maritime projects, shipyards, and lenders
When · Where
By 30 November 2026: completion of registration as an Alternative Investment Fund with SEBI (+2 more) · Across India
The Ministry of Finance announced on 23 October 2026 that Union Minister Smt. Nirmala Sitharaman chaired the 30th meeting of the Financial Stability and Development Council (FSDC). The Council discussed measures to protect the financial sector from cyber threats, promote Fintech innovation, and manage risks from global economic uncertainties and AI.
Who it affects
Indian financial sector
When · Where
On 23 October 2026: 30th Meeting of the Financial Stability and Development Council (FSDC) · Across India
The Ministry of Finance announced on 23 October 2026 that the Central Board of Indirect Taxes and Customs (CBIC) held a trade interaction meeting in Mumbai. The event, attended by about 150 representatives from Maharashtra's trade associations and taxpayers, focused on recommendations from the 57th GST Council meeting.
Who it affects
taxpayers
When · Where
On 8 October 2026: 57th GST Council meeting (+1 more) · Across Maharashtra
The Department of Drinking Water and Sanitation, Ministry of Jal Shakti, announced on 22 October 2026 that it held a virtual conference to align Jal Jeevan Mission (JJM) 2.0 with 16th Finance Commission grants. The initiative aims to shift focus from building new infrastructure to maintaining existing systems through Gram Panchayat-led planning and sustainable financing.
Who it affects
rural households
When · Where
On 1 September 2026: Departmental Summit on Water 2026 (+1 more) · Several states
The Central Board of Indirect Taxes and Customs (CBIC) held a stakeholder outreach programme in Nagpur on 16 October 2026 to discuss GST procedural reforms recommended by the 57th GST Council meeting. The session focused on simplifying compliance through measures such as automated system-based refunds and the proposed withdrawal of arrest-related provisions.
Who it affects
taxpayers and transport vehicles
When · Where
On 16 October 2026: stakeholder outreach programme in Nagpur · originating State and the destination State
The Union Cabinet announced on 14 October 2026 the approval of a Productivity Linked Bonus (PLB) for railway employees. A total of Rs 2009.61 crore will be paid to approximately 11.40 lakh non-gazetted staff, equivalent to 78 days of wages.
The Union Cabinet announced on 14 October 2026 the continuation of the National Social Assistance Programme (NSAP), now renamed Pradhan Mantri Samajik Sahayata Yojana, for five years from 2026-27 to 2030-31. With a total budget of Rs 53,428 crore, the program will support 3.20 crore beneficiaries across 36 States and Union Territories.
Who it affects
beneficiaries; persons with disabilities
When · Where
Within three months: issuance and implementation of guidelines for divyangjan pension (+2 more) · all the 36 States/UTs
The Union Cabinet announced on 14 October 2026 the approval of a Productivity Linked Bonus (PLB) for 11,40,770 non-gazetted railway employees. The government will spend Rs 2,009.61 crore to provide a bonus equivalent to 78 days' wages, with a maximum payment of Rs 17,951 per eligible employee.
Who it affects
non-gazetted Railway employees including Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial staff and other Group 'C staff
The Ministry of Statistics & Programme Implementation announced on 9 October 2026 the release of draft guidelines for calculating Gross State Domestic Product (GSDP) using the expenditure approach with a 2022-23 base year. These guidelines provide a standardized framework for States and Union Territories to estimate economic activity, specifically introducing methods for Private Final Consumption Expenditure, which no State currently compiles.
Who it affects
States and Union Territories
When · Where
By 28 October 2026: feedback from stakeholders on the draft guideline · Across India
The J&K Finance Department has directed all administrative departments, heads of departments, and drawing and disbursing officers to begin preparing budget estimates for 2027-28 and revised estimates for 2026-27. Departments must scrutinize estimates and submit recommendations to the Finance Department by 31 October 2026.
Who it affects
Administrative Departments
When · Where
By 20 October 2026: completion of budget preparation at the DDO level (+2 more) · Across J&K
The District Development Commissioner of Budgam has granted administrative approval for several development projects under the District Capex Budget 2026-27. The total approved amount is ₹12.98 lacs, to be implemented by the Rural Development Department and the Assistant Commissioner Panchayat Budgam.
Who it affects
Rural Development Department/Assistant Commissioner Panchayat Budgam
These works, totaling 7.00 lacs, will be carried out by the Rural Development Department or the Assistant Commissioner Development Budgam. The projects include lane construction and culvert construction in the Beerwah and Parnewa blocks.
Who it affects
Rural Development Department/Assistant Commissioner Development Budgam
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