business ποΈ New laws signed by President on finance matters
The Taxation and Other Laws (Amendment) Act, 2026, and an amendment to the Payment and Settlement Systems Act, 2007, received President Droupadi Murmu's assent on August 17, 2026. The Taxation Act aims to attract foreign capital and boost domestic electronics manufacturing by offering process certainty. This bill replaces a June 5 ordinance regarding FPI tax exemptions on G-Sec investments. The payment systems amendment allows the government to modify the zero-MDR framework for UPI and RuPay transactions. Future MDR charges will be decided by the UPI and Services Steering Committee.