Parliament Watch: ESIC disburses Rs 5.26 crore under ABVK, 79 FEMA applications disposed of since FY22

3-month drive to clear 16,033 industrial dispute cases
The labour ministry has launched a threemonth special drive from June 1, 2026 to August 31, 2026 for the expeditious disposal of 16,033 pending industrial dispute cases and claim cases relating to wages, gratuity, maternity benefits and other statutory claims. During the first month of the special drive, 2,769 cases have been disposed of, union minister of state for labour and employment, Shobha Karandlaje, informed the Lok Sabha.

ESIC disburses Rs 5.26 crore under ABVKY
The Employees’ State Insurance Corporation (ESIC), under the labour ministry, has disbursed `5.26 crore under the Atal Beemit Vyakti Kalyan Yojana (ABVKY), benefitting 4,072 unemployed people. The scheme has been extended for a year from July 1, 2026 to June 30, 2027, union minister of state for labour and employment, Shobha Karandlaje, informed the Lok Sabha on Monday.


FPI withdrawals not India-specific
The recent withdrawal of foreign portfolio investments (FPIs) from Indian equities was not specific to India but part of a broader trend across emerging markets, the Lok Sabha was informed on Monday. In a written reply, minister of state for finance, Pankaj Chaudhary said changes in FPI investments have been driven by factors such as geopolitical tensions, uncertainties surrounding trade tariffs, global investor sentiments, currency movements and portfolio rebalancing by global funds across emerging markets. “Despite FPI outflows, overall investor sentiment remains intact,” the minister said.

79 FEMA applications disposed of since FY22
The finance ministry said it has disposed of 79 applications for compounding of contraventions under the Foreign Exchange Management Act (FEMA) between April 2021 and July 20, 2026. No Objection Certificates from the Directorate of Enforcement were obtained in all 79 disposed cases where required.

Rs 100-cr+ tax filers quadruple over 5 yrs
The number of individuals reporting gross total income of `100 crore or more in their income-tax returns has more than quadrupled over the past five assessment years, with 576 such taxpayers filing returns in Assessment Year (AY) 2025-26, the government informed Parliament on Monday. Minister of State for Finance Pankaj Chaudhary said the number of individuals reporting gross total income of at least Rs 100 crore rose to 415 in AY 2024-25 from 284 in AY 2023-24.

Polymer notes' trial approved
The government has approved a central bank proposal to introduce one billion pieces each of `10 and `20 polymer banknotes for field trials and for regular issuance of such notes in these two denominations once the trials are successfully conducted, Parliament was informed on Monday. Minister of state for finance Pankaj Chaudhary said the Reserve Bank of India, with the recommendation of its central board, had proposed this to the government. Polymer banknotes, as per the RBI, are proposed to be issued along with paper substrate-based banknotes and “there is no proposal to replace paper currency with polymer substrate-based banknotes”, he said. The central bank had cited international studies to say the life span of polymer banknotes was higher than paper banknotes, he said.

Lower crude prices, strong exports to ease current account pressures
The latest drop in crude oil prices, together with sustained growth in services exports and remittances, is expected to support the external sector and mitigate pressures on India’s current account, minister of state for finance Pankaj Chaudhary said on Monday.

The average Indian crude oil basket prices have eased to $77.6 per barrel in July 2026 (up to July 22) from $114.5 per barrel in April, he said. The recent government measures and the RBI could also bolster capital inflows and help meet the country’s external financing requirements, the minister said.

The government last month brought in an ordinance to exempt foreign portfolio investors from capital gains and withholding taxes and expanded the pool of investable government securities for them. Separately, the RBI extended a concessional forex swap facility up to end-September to state-run companies to encourage external commercial borrowings by them, among other steps.

Rs 1,573 cr disbursed via NAPS
Skills development minister Jayant Chaudhary said in Lok Sabha that 52,98,397 apprentices have been engaged under the National Apprenticeship Promotion Scheme (NAPS) across the country from FY19 till FY27 and a stipend of Rs 1,573.46 crore has been disbursed through the direct benefit transfer scheme between 2023-24 and 2026-27.