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National Green Tribunal restrains Himachal Pradesh governmentt from proceeding with Draft Development Plan, 2041

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The National Green Tribunal has restrained the Himachal Pradesh government from going ahead with Draft Development Plan, 2041, which allows rampant construction in the hilly state.

“We find the observations and proposals in the plan of the state of HP to be patently illegal in view of submissions noted above,” NGT Chairperson Justice Adarsh Kumar Goel said after hearing a plea filed by Yogendra Mohan Sengupta, a Shimla-based environmentalist.

The plea was challenging the Draft Development plan on the ground that it is contrary to the sustainable development principle and destructive to the environment and public safety.

The petitioner relied upon the Expert Committee reports based on NGT’s 2017 order which has already issued regulatory measures required to be adopted in terms of the number of floors, and restrictions on constructions in core green areas.

In the order, the tribunal said, if the state proceeds in such a manner, not only it will damage rule of law, it may result in disastrous consequences for the environment and public safety.

“It is not expected from a lawful government that has to work as per law and the Constitution and not at its fancies as appears to be the case,” read the order dated May 12.

Pulling up the Chief Secretary of the state, the tribunal said: “Chief Secretary should be personally held liable for prosecution for such patent illegal acts of the State authorities.”

Also, issuing show-cause notices to the respondents, the bench directed the state to file their responses within one month. The Tribunal also said that the applicant might serve a set of papers on the Chief Secretary to file an affidavit of service within one week, stating meanwhile, it restrains the Himachal Pradesh Town and Country Planning Department from taking any further steps in pursuance of the Draft Development Plan, 2041.

The matter will be further heard on July 22. The plea contended that the earlier directions of the tribunal are still holding the field. It said the draft plan is an illegal and ill-conceived effort to violate the binding directions of the Tribunal under Section 15 of the NGT. Under Section 33 of the said Act, the NGT Act has overriding effect over any other law in force.

Violating such directions is a criminal punishable offence under Section 26 of the NGT Act. Heads of concerned Departments of the State are liable to be prosecuted for such offence under Section 28 of the said Act, it stated.

Business

Indian equity indices decline sharply over US tariff concerns

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Mumbai, Aug 28 : The Indian equity indices fell sharply to end the session nearly one per cent lower on Thursday — a day after the 50 per cent US tariffs on Indian goods came into effect.

Sensex ended the session at 80,080.57, down 705 points or 0.87 per cent. The 30-share index started the session in negative territory at 80,754 against last session’s closing of 80,786.54 amid selling across the sectors. The Index further extended the losing momentum to hit an intra-day low at 80,013.02 following the implementation of US tariffs on Indian goods.

Nifty settled at 24,500.90, down 211.15 points or 0.85 per cent.

“Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments. While the cotton import duty exemption briefly lifted hopes of policy support to counter tariff impacts, triggering a short-lived intraday recovery, investor mood remained fragile, with large caps declining and mid and small caps underperforming amid risk-off sentiment,” said Vinod Nair, Head of Research, Geojit Investments Limited.

Most sectors, including Auto, IT, FMCG, and Metals, traded in the red as investors turned to profit-booking from recent gains, while consumer durables outperformed, likely supported by GST rationalisation and expectations of festive demand, Nair added.

HCL Tech, TCS, Power Grid, Infosys, Hindustan Unilever, HDFC Bank, ICICI Bank, Bharati Airtel, Mahindra and Mahindra, Trent, Tata Motors, Sun Pharma, NTPC, BEL, Eternal and SBI were the top losers from the Sensex pack. While Titan, L&T, Maruti Suzuki, and Axis Bank were top gainers.

The majority of sectoral indices settled in negative territory amid selling pressure. Nifty Fin Services dropped 312.30 points or 1.20 per cent, Nifty Bank fell 630.10 points or 1.16 per cent, Nifty Auto declined 136.80 points or 0.54 per cent, Nifty FMCG closed 574.05 points or 1.02 per cent, and Nifty IT slipped 574.45 points or 1.59 per cent.

Broader indices followed suit as well. Nifty Small Cap 100 dipped 254.25 points or 1.45 per cent, Nifty Midcap 100 fell 718.70 per cent or 1.45 per cent, and Nifty 100 closed 235 points or 0.93 per cent lower.

Rupee traded weakly as selling pressure in capital markets deepened, with FII flows continuing to remain negative amid persistent concerns on India’s growth outlook and fiscal deficit.

“The imposition of a 50 per cent US tariff has raised uncertainty over exports, weighing on overall sentiment, until there is clarity on alternatives either through negotiations with the US or by striking trade agreements with other nations — investors are likely to stay cautious,” said Jateen Trivedi of LKP Securities.

The rupee is expected to remain under pressure with a near-term range of 87.25–88.25, he added.

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No user fee collection from two-wheelers at toll plazas: Govt

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New Delhi, Aug 21: The government on Thursday clarified that no user fee is levied from two-wheelers at the toll plazas on National Highways and National Expressways across the country.

The clarification came after reports surfaced that the National Highways Authority of India (NHAI) would collect user fees from two-wheeler riders at toll plazas.

“In reference to the fake news circulating on social media regarding toll collection from two wheelers on toll plaza, NHAI would like to clarify that no user fee is levied from two wheelers at the Toll plazas on National Highways and National Expressways across the country,” the Ministry of Road Transport and Highways said in a statement.

User fee on National Highways is collected as per the National Highway Fee (Determination of Rates and Collection) Rules, 2008, and there is no proposal to charge toll fee from the two wheelers, the ministry added.

According to the rules, the user fee at toll plazas is charged from four or more wheeled vehicles which include categories like car, jeep, van or light motor vehicle/light commercial vehicle, light goods vehicle or mini bus/bus or truck/heavy construction machinery (HCM) or earth moving equipment (EME) or multi axle vehicle (MAV) (three to six axles)/ oversized vehicles (seven or more axles.

Meanwhile, the NHAI sold over 5 lakh FASTag-based annual toll permits in just four days, collecting Rs 150 crore in revenue. Tamil Nadu recorded the highest number of purchases of annual passes in four days, followed by Karnataka and Haryana.

Further, Tamil Nadu, Karnataka, and Andhra Pradesh recorded the highest number of transactions through FASTag annual passes at toll plazas, a statement by NHAI said. Private vehicles can now use an annual toll pass for free passage through toll plazas on national highways and expressways, with each pass priced at Rs 3,000.

The annual pass is valid for one year from activation or for 200 toll trips, whichever occurs first.

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India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

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New Delhi: India is expected to clock 6.7 per cent growth in the first quarter of the current fiscal (FY26), outpacing the RBI Monetary Policy Committee’s (MPC’s) recent forecast of 6.5 per cent, credit rating agency ICRA said on Tuesday.The rating agency report projects the growth in the gross value added (GVA) to stand at 6.4 per cent in Q1 FY2026.

Improved transmission of monetary easing and the recent announcement of forthcoming GST rationalisation may help to shore up urban consumption sentiments ahead of the festive season, the report said.”ICRA estimates a double-digit growth in net indirect taxes (in nominal terms), aided by the sharp uptick in the government of India’s indirect taxes (+11.3 per cent in Q1 FY26 from -3.1 per cent in Q4 FY2025), despite the narrower contraction in its subsidy outgo,” said Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA.

“Benefitting from robust government capital as well as revenue spending, upfronted exports to some geographies and nascent signals of improved consumption, the pace of expansion in economic activity in Q1 FY2026 is estimated at 6.7 per cent,” Aditi Nayar said.The rating agency estimates the YoY growth in the services GVA to increase to an eight-quarter high of 8.3 per cent in Q1 FY26, from 7.3 per cent in Q4 FY25, supporting the overall GVA expansion in that quarter.

In particular, the combined non-interest revenue expenditure of 24 state governments reported a double-digit YoY growth of 10.7 per cent in Q1 FY26, up from 7.2 per cent in Q4 FY25.Likewise, the Central government’s non-interest revenue expenditure saw a turnaround, recording a YoY growth of 6.9 per cent against a contraction of 6.1 per cent in the previous quarter, said the report.

Rural sentiments, as reflected in the Current Situation Index (CSI) improved further in the July 2025 (100.6) round of the RBI’s Rural Consumer Confidence Survey, reflecting favourable trends in farm output in the last two cropping seasons, and the upbeat outlook for the ongoing kharif season, and a considerable cooling in the rural CPI inflation.

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