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Recent Current Affairs related to Tax

4 News
6 October 2026 ECONOMY

The Department of Economic Affairs under the Ministry of Finance (MoF) has maintained the interest rates for all Small Savings Schemes (SSS) for the third quarter (Q2) of the FY27. This marks the 14th consecutive quarter without a revision since the last adjustment in December 2024.

The interest rates for Sukanya Samriddhi Yojana (SSY) and Senior Citizen Savings Scheme (SCSS) are fixed at 8.2%. The rates for National Savings Certificate (NSC), Kisan Vikas Patra (KVP), and Public Provident Fund (PPF) are 7.7%, 7.5%, and 7.1% respectively.

It is to be noted that the MoF has performed quarterly reviews of SSS interest rates since 2016 based on the methodology of the Shyamala Gopinath Committee (2023). Under this framework, SSS rates are kept 25 to 100 basis points (bps) higher than the government bond yields.

12 June 2026 BANKING

The Ministry of Finance has introduced reforms to increase the participation of Foreign Portfolio Investors (FPIs) in Government Securities (G-Secs).

The measures include tax exemptions on interest income, Long Term Capital Gains (LTCG), and Short Term Capital Gains (STCG). Additionally, the reforms involve the expansion of specified securities under the Fully Accessible Route (FAR).

18 May 2026 STATE

The Karnataka government has implemented an “Alcohol-in-Beverage” (AIB)-based excise duty structure and revised the liquor rates. It is the first instance of such a taxation model being implemented in India, following the 2026-27 Budget announcement. The State Excise Department aims to rationalize liquor pricing to make beverages more affordable for consumers.

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