In a year bookended by intractable conflicts and geopolitical fragmentation, India focused on ramping up military prowess by broadly firming up defence procurement worth Rs 4.22 lakh crore even as Indian and Chinese militaries completed pulling back their troops from border face-off points in eastern Ladakh.
Facing criticism from the government over the central bank prioritising inflation over growth, the new RBI Governor Sanjay Malhotra on Monday said that prospects of the Indian economy are expected to improve on the back of high consumer and business confidence in 2025. "As we strive to preserve financial stability to support a higher growth path for the Indian economy, our focus remains steadfast on maintaining stability of financial institutions and, more broadly, systemic stability," Malhotra said in foreword to the Financial Stability Report.
Delhi's crime rate against women stood at 144.4 in 2022 -- the highest among all states and Union Territories.
'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
According to the Ministry of Energy, the system of frequency of the national grid went down at 7:34 am local time, resulting in the breakdown.
The party 'Mera Adhikar Rashtriya Dal' (MARD), registered in 2018, had unsuccessfully contested the 2019 Lok Sabha elections from Lucknow and Varanasi.
Companies say the viability of 13,000 megawatts worth of projects, which have fixed power sale tariffs, hinge on the government decision.
Violence erupted in the central Maharashtra city of Parbhani after a replica of the Constitution was vandalized. Around 50 people have been detained for the protests, while a man with mental health issues has been arrested for allegedly damaging the replica. Opposition leaders condemned the incident, calling for strict action against those responsible. The situation is under control, but tensions remain high in the city.
Defence sources stated that the disengagement involves removing infrastructure and withdrawing troops from both sides. The process is expected to be completed by Tuesday.
'Mrs Gandhi had nothing to do in the day-to-day working of Dr Singh's government.' 'People say Mrs Gandhi's office used to give orders, which is nonsense.'
Union Minister of State BL Verma expressed concern over the situation in Bangladesh and said the government is closely monitoring it. Addressing a Rozgar Mela in Jammu, he lauded the BSF for its role in safeguarding India's borders with Bangladesh, Myanmar, and Pakistan. He also responded to questions on the Samajwadi Party's controversial statement labelling the BJP government as a "Hindu terrorist organisation", the Congress's allegations of EVM fraud, and Rahul Gandhi's call for a caste census.
In an apparent dig at Ajit, Pawar senior said if someone keeps saying he will take everything, people may not say anything but will disapprove of it.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The government plans to remove the definition of broadcasting services altogether from the bill to help reduce confusion among stakeholders.
A day after killing of Hezbollah chief Hassan Nasrallah in an airstrike in Beirut, Israel conducted widespread strikes in Lebanon on Sunday, killing over 100 people. The Israeli Air Force (IAF) also launched airstrikes on military targets in Yemen, specifically targeting Houthi-controlled sites, including power plants and a seaport.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
The government had earlier said it would give incentives of around Rs 12 per unit of solar power sold. Companies have, however, already lined up capacities to the tune of 3,000 Mw involving investments of around Rs 48,000 crore (Rs 480 billion). This means that of the total planned solar power capacity, only 50 Mw will be incentivised, while the rest will continue to be very expensive.
India has expressed concerns over a rise in violence against Hindus and other minorities in Bangladesh and Pakistan, reporting 2,200 cases in Bangladesh and 112 in Pakistan this year. The Indian government has urged both countries to take measures to ensure the safety of minorities and has highlighted the issue at international forums. The government has also stated that it is monitoring the situation closely and has shared its concerns with the respective governments.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
In a recent letter to the power ministry, the Planning Commission recommended allocation of Rs 10,630 crore (Rs 106.3 billion) gross budgetary support for the ministry.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
Wholesale price inflation rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, as per the government data released on Thursday. The wholesale price index (WPI) based inflation was 1.84 per cent in September 2024. It was (-) 0.26 per cent in October, last year.
The Enhanced Pinaka has demonstrated a range of 75 km and an ability to strike within 10 metres of where it is aimed. This allows a Pinaka battery to destroy a terrorist camp, or an enemy post, logistics dump or headquarters, without sending soldiers across the border.
The wholesale price inflation rose to 1.84 per cent in September as food items, especially vegetables, turned costlier, as per the government data released on Monday. The wholesale price index (WPI)-based inflation was 1.31 per cent in August. It was (-)0.07 per cent in September last year.
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
Union Home Minister Amit Shah has cancelled his election rallies in Maharashtra and is returning to Delhi due to the volatile situation in Manipur. The home minister is likely to hold a meeting to review the situation in the northeastern state, where irate mobs have set fire to the residences of several BJP and Congress legislators. The incidents follow a series of killings and abductions by militants in the state.
India's nuclear-powered submarine INS Arihant on Friday carried out a successful launch of a submarine-launched ballistic missile (SLBM) in the Bay of Bengal with a 'very high accuracy', the defence ministry said.
'We cannot accept Ajir Pawar if he comes to join us as a member of the NCP.' 'NCP is not welcome to us.'
Almost five years later, the three services have still not fully understood that joint/theatre commands are not a discussion point; they are the prime minister's diktat on a military reform measure that is in line with what armed forces around the world have implemented, points out Ajai Shukla.
... and there is no stopping its pan-Islamic agenda, cautions Ambassador M K Bhadrakumar.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
A group of people set fire to an ISKCON temple in Dhaka district in Bangladesh in the early hours of Saturday.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
The 10-day-old BJP-led Mahayuti alliance ministry in Maharashtra was expanded on Sunday, with 39 ministers being sworn in, taking its strength to 42. The BJP secured 19 ministerial berths, followed by 11 for the Eknath Shinde-led Shiv Sena and 9 for Ajit Pawar's Nationalist Congress Party. Governor P C Radhakrishnan administered the oath to the new ministers at the ceremony held in Nagpur. Chief Minister Devendra Fadnavis and deputy CMs Eknath Shinde and Ajit Pawar were present.
A day after changes in their portfolios, Finance Minister P Chidambaram and Home Minister Sushil Kumar Shinde took charge of their respective ministries.
