On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman presented a record Budget in the 8th Lok Sabha.
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
The interest rate on these schemes have remained unchanged for over a year now.
AIADMK general secretary Edappadi K Palaniswami has asserted that alliances are formed only at the time of elections and declined to categorically say if his party would align with the BJP for the 2026 Assembly polls. Palaniswami met with Union Home Minister Amit Shah on Tuesday and brought to his attention several issues faced by Tamil Nadu, including the need for funds release, the implementation of the Godavari-Cauvery river linking plan, and a probe into the "TASMAC scam." He said that while the party would decide on an alliance at the time of the election, he did not rule out a tie-up with the BJP.
The first round of trial incineration of 10 tonnes of waste connected to the 1984 Bhopal Gas Tragedy has begun in Pithampur, Madhya Pradesh, amid tight security. The Supreme Court refused to intervene in the MP High Court's order directing the transfer and disposal of waste at a private company-operated plant in Pithampur. The trial incineration is being conducted in the presence of scientists from the central and state pollution control boards. Protesters have expressed apprehensions about harm to the human population and environment due to the disposal of this waste, but the state government has rejected these concerns, saying that solid arrangements are in place for safe disposal.
The Supreme Court of India has formed a National Task Force (NTF) to address the growing concern of student suicides in higher educational institutions. The court took note of the recurring cases and directed Delhi Police to register FIRs on the complaints of families of two students who died by suicide at IIT Delhi in 2023. The NTF, chaired by former apex court judge Justice S Ravindra Bhat, will prepare a comprehensive report, including the identification of causes leading to suicides, analysis of existing regulations, and recommendations for strengthening protections. The NTF will also have the authority to conduct surprise inspections of higher educational institutions and make further recommendations to ensure a holistic approach to addressing mental health concerns and eliminating suicides.
Prime Minister Narendra Modi asserted that his "vocal for local" campaign is bearing fruit as Indian products are going global and making their presence felt across the world. He said that India was becoming the land of infinite innovations, finding affordable solutions and offering them to the world. The prime minister also highlighted the country's rising defense products, electronics, automobile sector, and the success of superfoods, Ayush products, and yoga. He said India should be presented to the world as it is, without any bias. Modi said that the country was now emerging as a manufacturing hub and a "factory of the world." He added that India was creating solutions that were affordable, accessible, and adaptable, and offering them to the world without gatekeeping.
The three-language formula proposed in the National Education Policy 2020, is at the centre of the political row between the Dravida Munnetra Kazhagam-led Tamil Nadu government and the central government.
The DMK protested in the Lok Sabha after Union Education Minister Dharmendra Pradhan criticized the Tamil Nadu government for refusing to implement the National Education Policy (NEP) and accused them of "politics." Pradhan alleged that the state had initially agreed to the PM SHRI scheme but later backed out. The DMK, however, asserted that they have issues with the NEP and the three-language formula, and cannot accept it in full. The protests disrupted House proceedings, leading to an adjournment. The DMK members were angered by Pradhan's accusations, demanding the release of funds allocated for education in the state.
The Supreme Court will hear a plea seeking an independent selection process for the Comptroller and Auditor General of India (CAG) on March 17. The PIL, filed by the Centre for Public Interest Litigation, argues that the current system of appointment solely by the executive and the prime minister violates the Constitution and undermines the CAG's independence. The petition calls for a transparent process involving the prime minister, Leader of the Opposition, and Chief Justice of India. The PIL contends that the CAG's role as a watchdog over government finances requires a fair and non-arbitrary appointment procedure.
High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin.
Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2025-26 continues efforts to accelerate growth and provide inclusive development.
The unloading of 337 tonnes of hazardous waste from the defunct Union Carbide factory in Bhopal began at an incineration unit in Pithampur, Madhya Pradesh. The exercise, which commenced amid protests from locals concerned about its impact on health and environment, is being carried out following safety regulations. The waste, comprising soil, reactor residues, pesticide remnants, and other materials, has been transported from Bhopal to Pithampur for disposal. The Madhya Pradesh Pollution Control Board has asserted that the chemical effects of certain substances in the waste have diminished. The local administration has launched an awareness campaign to address concerns regarding the disposal process.
Tamil Nadu Chief Minister M.K. Stalin urged newlyweds to have children immediately after marriage, citing a potential link between population size and the number of MPs a state receives. He argued that a larger population could lead to more seats in the Lok Sabha during the upcoming delimitation exercise, which would be based on population. Stalin also criticized the BJP's three-language policy and alleged the central government is attempting to reduce Tamil Nadu's representation in the Lok Sabha. He called for unity among political parties in Tamil Nadu to oppose these moves.
For every rupee in the government coffer, the biggest pie of 66 paise will come from direct and indirect taxes, according to the Union Budget 2025-26 documents. Around 24 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like divestment, and 1 paise from non-debt capital receipts, the Budget documents said.
Government representatives told a parliamentary panel that the US has not officially conveyed to India that it should cut tariffs by April 2.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
The Supreme Court of India has sought the government's response on a Public Interest Litigation (PIL) that challenges the appointment process of the Comptroller and Auditor General of India (CAG), arguing it's unconstitutional. The PIL, filed by the Centre for Public Interest Litigation, claims the current process, solely through executive appointment by the Prime Minister, undermines the CAG's independence and violates constitutional principles. The court, while acknowledging the importance of institutional trust, questioned the extent to which it should intervene in the appointment process and whether this would constitute rewriting constitutional provisions. The PIL suggests the CAG's appointment should be similar to other independent bodies, with a selection committee comprising the Prime Minister, Leader of the Opposition, and Chief Justice of India. The case has implications for the independence and transparency of India's audit system.
The Supreme Court of India has stayed a Lokpal order that allowed complaints to be filed against a sitting high court judge. The court termed the order "something very, very disturbing" and a concern for the independence of the judiciary. The bench issued notices to the Centre, the Lokpal registrar, and the complainant, directing them to keep the identity of the judge confidential. The court will hear the matter again on March 18.
The government will launch a Rs 2-crore term loan for 5 lakh first-time women, SC and ST entrepreneurs, Finance Minister Nirmala Sitharaman said on Saturday.
Union Minister Shivraj Singh Chouhan on Saturday slammed Tata Group-owned Air India for allotting him a 'broken and sunk' seat, prompting his ministerial colleague K Rammohan Naidu to instruct the airline to take 'necessary action'.
The Mathura Shahi Masjid Eidgah Committee has approached the Supreme Court, requesting the court to prevent the central government from filing a response to a petition challenging the Places of Worship Act's constitutional validity. The committee accuses the BJP-led government of intentionally delaying its response. The court had previously issued a notice to the government in March 2021, but the government has yet to submit its reply despite numerous opportunities. The committee argues that the government's delay is intended to obstruct those opposing the challenge to the Places of Worship Act from filing their own responses. The petition also states that the pleas challenging the law's validity are scheduled for hearing on February 17, and closing the government's right to respond would serve justice. The Supreme Court previously issued a ruling in December 2022 that stopped courts from entertaining new lawsuits or issuing interim or final orders regarding the reclaiming of religious places, particularly mosques and dargahs. The ruling halted proceedings in 18 lawsuits filed by Hindu groups seeking surveys to confirm the original religious character of 10 mosques, including the Gyanvapi Masjid in Varanasi, the Shahi Idgah Masjid in Mathura, and the Shahi Jama Masjid in Sambhal. This decision was made in response to six petitions, including one filed by lawyer Ashwini Upadhyay, challenging various provisions of the Places of Worship Act. The 1991 law prohibits the conversion of places of worship and guarantees the preservation of their existing religious character as it stood on August 15, 1947. Notably, the dispute regarding the Ram Janmabhoomi-Babri Masjid in Ayodhya was excluded from this law. There are also several cross-petitions advocating for a strict enforcement of the 1991 law to uphold communal harmony and maintain the current status of mosques that Hindu groups seek to reclaim, claiming they were temples before being destroyed by invaders.
Bihar Chief Minister Nitish Kumar on Monday accused the opposition RJD-Congress combine of failing to curb communal clashes in the state while they were in power. He alleged that they "sought votes of Muslims" but did nothing to stop the violence. Kumar, who has been in power since 2005, highlighted the Bhagalpur riots of 1989, which he said were a result of "bad law and order" during the previous government's tenure. He praised the BJP-led central government for its support to Bihar and the recent budget, which he said had many announcements for the state.
A vaccine to fight cancers affecting women will be available in five to six months, and those in the age group of nine to 16 years will be eligible for inoculation, Union Minister Prataprao Jadhav said on Tuesday. The Union Minister of State for Health, Family Welfare and Ayush (Independent Charge) said that research on a vaccine is nearly complete and trials are underway. The government has also waived off customs duty for medicines used in cancer treatment.
The legislation is aimed at streamlining various services related to immigration and foreigners, including their entry, exit and stay in India.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
The government on Thursday said it has cancelled the auction of Tamil Nadu's Nayakkarpatti tungsten mineral block which is near the Arittapatti Biodiversity site and a number of cultural heritage sites. Tungsten is a critical and strategic mineral.
The Department of Social Justice and Empowerment has received Rs 13,611 crore in the Union Budget announced on Saturday, while the allocation for disability welfare now stands at Rs 1,275 crore.
Trump said that the funds used to support students with disabilities and scholarships will be preserved and these duties will be provided to other institutions.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value.
India is proposing a new law that would impose a jail term of up to seven years and a fine of Rs 10 lakh on anyone found using a forged passport or visa to enter, stay, or exit the country. The Immigration and Foreigners Bill, 2025, also mandates reporting of foreign visitors by hotels, universities, and hospitals to track overstaying individuals. The bill aims to simplify laws, ease business, and strengthen national security while promoting economic growth and tourism.
Punjab Police detained several farmer leaders, including Sarwan Singh Pandher and Jagjit Singh Dallewal, while they were returning from a meeting with a central delegation in Chandigarh. The police also began evicting protesting farmers from the Shambhu and Khanauri border points, which have been closed for over a year. The action comes amid concerns from industrialists in Punjab over the prolonged closure of the border points, which they say has resulted in heavy losses. The meeting between the farmer leaders and the central delegation, led by Union Agriculture Minister Shivraj Singh Chouhan, was inconclusive, but the next meeting is scheduled for May 4.
Three civilians were killed in a remote area of Jammu and Kashmir's Kathua district, sparking protests and a shutdown. The killings, which are being investigated as a possible case of terrorism, have caused fear and anger in the community. Union Home Secretary Govind Mohan is reviewing the security situation and has assured that such incidents will not be allowed to happen again. The incident has also raised concerns about the safety of local politicians, with one MLA being attacked by a group of protesters.
The security review was held after the February 20 ultimatum given by the governor to everyone holding illegal and looted arms to surrender.
India has strongly condemned Pakistan's remarks on Jammu and Kashmir at the UN Human Rights Council, calling it a "failed state" that spreads falsehoods and relies on international handouts. India's delegate, Kshitij Tyagi, highlighted the progress made in Jammu and Kashmir and said Pakistan is in no position to lecture anyone on human rights, given its own record of abuses and support for terrorism.
The US consulate in Mumbai has granted visas to the family members of Indian student Neelam Shinde, who suffered serious injuries in a road accident in California and is undergoing treatment. Shinde, who hails from Satara in Maharashtra and is studying in the United States, is still in a coma at a hospital in San Francisco, but her condition has slightly improved. The Ministry of External Affairs had taken up the family's request for an urgent visa with the US authorities.
Ushering in reforms, Union Finance Minister Nirmala Sitharaman on Saturday proposed to open up the nuclear power sector for private players and announced a Rs 20,000 crore Nuclear Energy Mission for research in the field, with an aim to set up five small and modular reactors by 2033.
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