Author: anglo

Several workers are feared trapped in a coal mine in Assam’s Tinsukia district after water seeped into the mine, according to local officials. The incident occurred late on Friday, raising concerns about safety measures and rescue operations in the region. Source:- bbc news **The Incident** Initial reports suggest that water from nearby areas entered the mine, catching the workers off guard. The exact number of trapped miners remains unclear, but officials estimate that several are still inside. Efforts are underway to assess the situation and initiate rescue operations. Source:- news 18 **Rescue Efforts** Local authorities, along with the National Disaster…

Prime Minister Narendra Modi recently met with Microsoft CEO Satya Nadella to discuss the transformative role of technology, innovation, and artificial intelligence (AI) in shaping India’s future. The meeting highlighted the Indian government’s commitment to leveraging cutting-edge technologies to drive economic growth, enhance governance, and empower citizens. Source:- bbc news **Focus on AI and Digital Transformation** Discussions centered around the potential of AI to revolutionize sectors such as healthcare, education, and agriculture. Both leaders emphasized the need for ethical AI development and the importance of upskilling India’s workforce to meet future technological demands. Source:- news 18 **Microsoft’s Role in India’s…

The cost of a vegetarian thali increased by 6% year-on-year in December, driven by rising prices of essential vegetables like potatoes and tomatoes. According to industry data, escalating food inflation continues to impact household budgets as key staples become more expensive. Source:- bbc news **Vegetable Price Surge** Potatoes and tomatoes, critical components of a typical Indian thali, witnessed a significant price spike due to erratic weather patterns disrupting supply chains. Tomato prices, in particular, surged following unseasonal rains, while potatoes saw higher demand amid reduced production. **Broader Inflation Impact** The increase in thali costs reflects broader food inflation trends. Rising…

The government’s ability to meet its ambitious capital expenditure (capex) target for FY25 will depend on several factors, including revenue growth, fiscal management, and project implementation efficiency. While recent years have seen a sharp rise in capex allocations to drive infrastructure and economic growth, meeting the FY25 target will pose challenges amid slowing GDP growth and global uncertainties. Source:- bbc news **Revenue Constraints** A subdued GDP growth forecast of 6.4–6.7% could impact tax revenue collections. Additionally, factors such as lower exports, rising oil prices, and global economic uncertainties may constrain non-tax revenue sources. Slower revenue growth could pressure fiscal resources,…

Economists project India’s GDP growth for FY25 to remain subdued at 6.4–6.7%, citing global economic headwinds and domestic challenges. This is a slowdown from earlier robust growth rates but aligns with expectations of moderating momentum in the post-pandemic recovery. Source:- bbc news **Key Factors Influencing Growth** Global economic uncertainties, including inflationary pressures, monetary tightening by major central banks, and geopolitical tensions, are expected to weigh on exports and industrial activity. Domestically, high borrowing costs may dampen private consumption and investment growth, despite strong government infrastructure spending. **Sectoral Outlook** Agriculture could see limited growth due to uneven monsoon patterns, while manufacturing…

Tarsem Singh, father of jailed pro-Khalistan leader and Khadoor Sahib MP Amritpal Singh, has announced plans to launch a new political party in Punjab on January 14, coinciding with the Maghi Mela in Sri Muktsar Sahib. Source:- bbc news The party, tentatively named Shiromani Akali Dal (Anandpur Sahib), aims to provide a political alternative in Punjab, focusing on state rights and addressing issues such as drug abuse and youth welfare. Source:- news 18 Amritpal Singh, currently detained under the National Security Act in Assam’s Dibrugarh jail, will assume leadership upon his release. In the interim, Tarsem Singh will manage the…

Israeli airstrikes in Gaza resulted in at least 21 fatalities, including children, according to hospital workers. These strikes are part of ongoing military actions following a Hamas attack on Israel in October 2023, which led to a prolonged conflict. Source:- bbc news The Gaza Health Ministry reported that, over a 24-hour period, Israeli strikes killed 59 individuals and injured more than 270. The cumulative effect of these operations has been devastating, with nearly 46,000 Palestinians losing their lives since the conflict began. Source:- news 18 The humanitarian situation in Gaza is dire. The United Nations has condemned attacks on medical…

The Commission for Air Quality Management (CAQM) has lifted Stage III restrictions under the Graded Response Action Plan (GRAP) in Delhi-NCR due to improved air quality. Source:- bbc news Despite this improvement, Stage I and II measures remain in effect to prevent further deterioration. The CAQM continues to monitor the situation and urges citizens to adhere to air quality guidelines, especially during the winter season when conditions can change. Share your views in the comments

Recent data from the State Bank of India (SBI) reveals a notable shift in Indian household consumption patterns, with a significant decline in the intake of cereals and pulses. Over the past 12 years, consumption of these staples has decreased by over 5% in both rural and urban areas. Source:- bbc news This change reflects a broader trend where the share of food expenditure in household budgets has diminished. In rural areas, spending on food items decreased from 52.9% in 2011-12 to 47.04% in 2023-24, a decline of 5.86 percentage points. Urban areas experienced a smaller reduction, with food expenditure…

In a landmark decision, the Department for Promotion of Industry and Internal Trade (DPIIT) has removed patent agent Naveen Chaklan from the Register of Patent Agents due to alleged professional misconduct. This action marks the first instance of such a deregistration by a committee constituted by the DPIIT. Source:- bbc news **Background of the Case** In 2019, Chaklan charged his client, Saurav Chaudhary, ₹51,000 to file and expedite a patent application for a sewing machine. However, the application was deemed abandoned because Chaklan failed to inform Chaudhary about the First Examination Report (FER). This oversight led to harassment, financial loss,…

Bharatiya Janata Party (BJP) candidate Ramesh Bidhuri, contesting from Delhi’s Kalkaji constituency, recently made a controversial remark during a public rally, stating that he would develop roads in the area to be as smooth as Congress leader Priyanka Gandhi’s cheeks. Source:- bbc news This comment drew sharp criticism from various political figures. Congress leader Supriya Shrinate condemned the statement as “shameful,” accusing the BJP of harboring an “anti-women” mindset. Source:- news 18 In response to the backlash, Bidhuri expressed regret, stating, “If anyone is hurt, I express regret and take my words back.” Delhi Chief Minister Atishi also criticized Bidhuri’s…

During a recent interaction with students at the Indian Institute of Technology (IIT) Madras, Congress leader Rahul Gandhi delineated key distinctions between his party and the Bharatiya Janata Party (BJP). He emphasized that the Congress party advocates for equitable resource distribution and inclusive growth, contrasting this with the BJP’s more aggressive “trickle-down” economic approach. Source:- bbc news Gandhi stated, “The BJP is more aggressive on growth. They believe in what in economic terms is ‘trickle-down’. On the social front, we feel that the more harmonious society is, the less people are fighting, the better it is for the country.” Source:-…

Bangladesh has decided to cancel a scheduled training programme for 50 of its judges and judicial officers in India. This move comes amidst growing concerns over bilateral relations and domestic priorities within Bangladesh’s judiciary.   Source:- toi The programme, organized under a collaborative effort between the two nations, was set to focus on judicial best practices, case management, and the use of technology in courts. It was part of ongoing initiatives to strengthen judicial cooperation between the two neighbors. Source:- bbc news While no official reason has been provided, sources suggest that domestic constraints and evolving policy priorities in Bangladesh may…

How India’s Services Sector Made History Amid Declining Goods Exports India’s services sector achieved a remarkable milestone in 2024, emerging as a key driver of the economy while goods exports faced challenges. For the first time, services exports surpassed goods exports, marking a turning point in India’s trade dynamic. Source:- bbc news The services sector recorded exports worth $350 billion in the first half of the year, driven by robust growth in IT, financial services, and consulting. This surge offset the sluggish performance of goods exports, which fell due to weak global demand, geopolitical tensions, and supply chain disruptions. Sectors…

Draft Digital Personal Data Protection Rules, 2025: IT Minister Advocates Local Data Storage to Prevent Sectoral Disruptions** The Indian government has introduced the Draft Digital Personal Data Protection Rules, 2025, focusing on robust data governance and security. IT Minister Rajeev Chandrasekhar emphasized the importance of local data storage to ensure national security, data sovereignty, and economic resilience. Source:- bbc news The proposed framework mandates businesses to store specific categories of personal data within India, a measure aimed at reducing dependency on international servers and mitigating potential sectoral disruptions. This policy aligns with global trends where countries are asserting greater control…

Turo, a peer-to-peer car-sharing platform, is under intense scrutiny following two tragic incidents on New Year’s Day involving vehicles rented through its service. In New Orleans, Shamsud-Din Bahar Jabbar drove a rented Ford F-150 into a crowd on Bourbon Street, resulting in 14 fatalities and numerous injuries. After crashing, he exited the vehicle and engaged in a shootout with police, ultimately being fatally shot. Jabbar, an Army veteran, had recently converted to Islam and was found with an ISIS flag on the truck’s trailer hitch. Explosive devices were also discovered in the vehicle and a nearby Airbnb he had rented.…

As of January 3, 2025, several countries have issued travel advisories for China, primarily due to concerns over the arbitrary enforcement of local laws and recent health developments. Travel Advisories: Source:- bbc news -United States:The U.S. Department of State has issued a Level 2 travel advisory, advising travelers to exercise increased caution in Mainland China due to the arbitrary enforcement of local laws, including exit bans. -Canada: The Government of Canada advises exercising a high degree of caution in China, citing similar concerns about the arbitrary enforcement of local laws. Health Concerns: Source:- bbc news Recent reports indicate an increase…

India’s foreign exchange reserves have declined by $4.11 billion, reaching $640.28 billion as of December 27, 2024, according to the Reserve Bank of India (RBI). This marks the fourth consecutive week of decline, with a cumulative reduction of $17.8 billion during this period. Source:- bbc news The primary contributor to this decline is the decrease in foreign currency assets, which fell by $4.64 billion to $551.92 billion. In contrast, gold reserves experienced an increase of $541 million, totaling $66.27 billion. Special Drawing Rights (SDRs) saw a marginal decrease of $12 million, standing at $17.87 billion. Additionally, India’s reserve position in…

Blinkit, a prominent quick-commerce platform in India, has recently launched a 10-minute ambulance service in Gurugram, aiming to provide rapid medical assistance to residents. Each ambulance is staffed with a paramedic, an assistant, and a trained driver, and is equipped with essential life-saving equipment, including oxygen cylinders, Automated External Defibrillators (AEDs), stretchers, monitors, suction machines, and emergency medications. The service is priced at a flat fee of ₹2,000. Source:- bbc news This initiative brings attention to a significant issue in India’s healthcare infrastructure: the shortage of Advanced Life Support (ALS) ambulances. As of July 2024, out of 17,495 operational ambulances…

India’s foreign exchange reserves have declined to an eight-month low of $640.28 billion as of December 27, 2024, marking the fourth consecutive week of decline. This decrease of $4.1 billion follows a cumulative drop of $13.7 billion in the previous three weeks. Source:- bbc news The Reserve Bank of India (RBI) has been actively intervening in the foreign exchange market to manage the rupee’s volatility. These interventions, along with fluctuations in the value of foreign assets held in the reserves, have contributed to the decline. The Indian rupee recently hit an all-time low of 85.8075 against the U.S. dollar, influenced…

Lalu Prasad Yadav, RJD supremo, has sparked political speculation with his overture to Bihar Chief Minister Nitish Kumar for a potential alliance. In a recent statement, Lalu hinted at the possibility of joining forces with Nitish Kumar to counter the BJP’s influence in Bihar. This has led to widespread discussions about a reunion of the old Janata Parivar allies. Source:- bbc news However, Bihar Deputy Chief Minister and Lalu’s son, Tejashwi Yadav, sought to downplay the buzz, dismissing it as mere political gossip. Addressing reporters, Tejashwi stated, “Our focus remains on governance and delivering on our promises to the people…

At least 27 migrants from sub-Saharan Africa have tragically lost their lives after two boats capsized off Tunisia’s eastern coast near the Kerkennah Islands. The Tunisian coast guard successfully rescued 83 individuals from the incidents. Source:- news 18 The first boat, carrying 25 migrants, sank on Wednesday, leading to the recovery of 27 bodies and the rescue of 25 survivors. The second boat, which departed from Tunisia’s northern coast, encountered difficulties on Monday; authorities recovered two bodies and rescued 17 individuals from this vessel. Source:- bbc news These incidents highlight the ongoing peril faced by migrants attempting to cross the…

Union Labour Minister Mansukh Mandaviya has reported a significant increase in employment under Prime Minister Narendra Modi’s administration, with 17.19 crore jobs created between 2014 and 2024, compared to 2.9 crore jobs during the United Progressive Alliance (UPA) tenure from 2004 to 2014. Source:- bbc news Employment Growth Statistics Overall Employment Increase: Employment rose by 36% to 64.33 crore in 2023-24 from 47.15 crore in 2014-15 under the Modi government. Source:- bbc news UPA Period Comparison: During the UPA’s decade-long governance, employment grew by approximately 7%, adding 2.9 crore jobs. Sector-Specific Employment Growt Agriculture Employment increased by 19% between 2014…

Chile’s economic activity experienced modest growth for the second consecutive month in November 2024, signaling a gradual recovery supported by real wage increases and the central bank’s monetary easing measures. Source:- bbc news **Economic Activity Index (Imacec)** The Monthly Economic Activity Index (Imacec), which serves as a proxy for the country’s GDP, rose by 0.3% in November compared to October, surpassing analysts’ median estimate of 0.2%. On a year-over-year basis, the index increased by 2.1%, according to the Central Bank of Chile. Source:- bbc news **Sectoral Performance** The industrial sector rebounded with a 2.2% increase in November, breaking a three-month…

The Securities and Exchange Board of India (SEBI) has uncovered a front-running scam involving former stockbroker Ketan Parekh and several associates, leading to the impounding of approximately ₹65.77 crore in illicit gains. Source:- bbc news **Background on Ketan Parekh** Ketan Parekh is a former stockbroker from Mumbai, who was convicted in 2008 for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. During this period, Parekh artificially rigged prices of certain chosen securities (informally referred to as “K-10” stocks), using large sums of money borrowed from banks including the Madhavpura Mercantile Co-operative Bank, of…

Demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) reached a four-month high in December 2024, signaling increased reliance on the scheme amid economic uncertainties. The MGNREGA, which guarantees 100 days of wage employment to rural households, has seen a rise in demand for jobs, particularly in rural areas where livelihood opportunities are limited. Source:- bbc news The surge in demand is largely attributed to several factors, including the ongoing economic slowdown, lower agricultural productivity, and seasonal labor shortages in rural India. Additionally, the impact of inflation on essential goods has driven more people to seek…

India’s core sector growth surged to a four-month high of 4.3% in November 2024, marking a significant rebound in the performance of key industries. The core sector, which includes sectors such as coal, crude oil, natural gas, cement, steel, and electricity, plays a crucial role in the overall economic health of the country. This growth figure is an encouraging sign for India’s industrial recovery and highlights positive momentum in critical sectors. Source:- bbc news The sharp growth in November was driven by strong performance in the cement, electricity, and steel sectors. Cement production increased due to the ongoing infrastructure projects…

Sharmistha Mukherjee, the daughter of former President Pranab Mukherjee, recently launched a scathing attack on the Congress party, referring to its leaders as “Rahul’s bhakt-chelas” (devotees and followers of Rahul). Her comments came amid growing frustration with the direction the party has taken under Rahul Gandhi’s leadership, particularly in the wake of several electoral setbacks. Source:- bbc news Sharmistha, who has been an active Congress leader in the past, expressed her disillusionment with the party’s inability to evolve and adapt to changing political dynamics. She criticized Congress for being overly focused on the Gandhi family, to the detriment of its…

BJP Member of Parliament (MP) has recently dubbed Uttar Pradesh (UP) Chief Minister Yogi Adityanath as “Arth Prabandhan Baba” (Master of Financial Management). This moniker has sparked interest and discussions, particularly due to Yogi Adityanath’s approach to managing the state’s finances and economic policies. Source:- bbc news The term “Arth Prabandhan” translates to financial management, and it highlights Yogi’s significant efforts in ensuring fiscal discipline and promoting the economic development of UP. Under his leadership, the state has focused on various fiscal reforms, such as streamlining public expenditure, improving revenue collection, and boosting the state’s industrial growth. His tenure has…

India’s Centre has reported a fiscal deficit of 52.5% of the Budget Estimate (BE) for the period from April to November 2024. This indicates that the government’s expenditure is running higher than its revenues, with fiscal deficit representing the gap between the two. The fiscal deficit target for the fiscal year is pegged at ₹17.89 lakh crore, and the figure reported for this period suggests that the government may need to take corrective actions to meet its full-year target. Source:- bbc news The government’s capital expenditure (capex) for the same period stands at 46.2% of the annual target. This is…

A heartwarming story of resilience and adaptability is capturing the internet’s attention as a graphic designer turned auto driver after struggling to find a job in his field. The story highlights the challenges faced by many professionals in the current job market and the courage it takes to embrace a completely different path. Source:- bbc news The graphic designer, whose identity remains undisclosed, shared his journey online, revealing how his financial struggles pushed him to take up driving an auto-rickshaw. Despite the career shift, he continues to nurture his passion for design, working on freelance projects during his free time.…

The central government is intensifying efforts to address land availability challenges for wind energy projects, urging states to pool unused government land for renewable energy development. This initiative comes as India strives to meet its ambitious renewable energy targets, including achieving 140 GW of wind energy capacity by 2030. Source:- bbc news Land scarcity has long been a critical bottleneck for wind energy projects, often leading to delays and increased costs. In response, the Centre has proposed creating a centralized land bank of unused and underutilized government-owned plots. States are being encouraged to identify such land parcels, particularly in wind-rich…

Vicky Kaushal, known for his dynamic performances in Bollywood, recently expressed his admiration for legendary singer Asha Bhosle after watching her rendition of the iconic song *Tauba Tauba*. The celebrated singer performed the classic number during a recent event, captivating the audience with her timeless voice and unmatched charisma. Source:- bbc news Taking to social media, Vicky shared a clip of Asha Bhosle’s performance and called her an “absolute legend.” He praised her energy and the passion she continues to bring to her music even after decades of an illustrious career. “What a performer, what an artist. Asha ji, you’re…

Sutapa Sikdar, the wife of late actor Irrfan Khan, has opened up about her ongoing struggle to cope with his untimely demise. Irrfan, one of India’s most acclaimed actors, passed away in April 2020 after battling a rare form of cancer, leaving an indelible void in the hearts of his loved ones and fans. Source:- BBC news Sutapa shared her journey of grief and healing, acknowledging how difficult it has been to move on. “It’s tough,” she admitted in a heartfelt statement. Despite the passage of time, she said the loss of Irrfan continues to impact her deeply, as he…

A controversy has erupted in Pune over a New Year party invite sent by a local pub, which included condoms as part of its promotional material. The invite, designed to attract partygoers for a New Year’s Eve celebration, has drawn sharp criticism from the Congress party, who called it “against traditions” and filed an official complaint with the police. Source:- bbc news The pub’s invitation, which was shared on social media and circulated among potential customers, included a condom alongside party details, sparking a public debate about morality, cultural values, and the role of advertising in modern India. Congress leaders,…

On December 29, 2024, Samajwadi Party (SP) chief Akhilesh Yadav alleged that a ‘Shivling’ (a symbolic representation of Lord Shiva) lies beneath the official residence of Uttar Pradesh Chief Minister Yogi Adityanath in Lucknow. He suggested that, following recent excavations at historical sites in the state, the area under the CM’s residence should also be examined. Source:- bbc news Context of the Claim Yadav’s statement comes amid political tensions over archaeological excavations in Uttar Pradesh. Recently, a 250-foot-deep stepwell from the 1857 revolt era was uncovered during an archaeological survey in Sambhal district. This discovery followed excavations in the Laxman…

A devastating plane crash in South Korea resulted in the deaths of 179 individuals, including a 3-year-old boy. The incident occurred when a Jeju Air flight, returning from Bangkok, attempted to land at Muan International Airport. The aircraft struck a bird during its approach, leading to a malfunction in the landing gear. Source:- bbc news Despite the pilot’s efforts to safely land the plane, it skidded off the runway and exploded upon hitting a concrete barrier. Only two crew members survived, both with moderate to severe injuries. Investigations are underway to determine the exact cause of the crash, with initial…

On December 29, 2024, the Uttar Pradesh Special Task Force (STF) arYearped two individuals from Bihar, seizing 5.920 kilograms of charas valued at approximately ₹30 lakh. Arrest Details The arrests occurred near Chatrasaal village on the Ayodhya-Lucknow highway within the Satrikh police station jurisdiction around 2:30 a.m. The suspects were identified as Siddarth Kumar Srivastava from Motihari in West Champaran and Amit Kumar from Mufassil in East Champaran. Source:- bbc news Smuggling Modus Operandi According to STF officials, the accused smuggled charas from Nepal into India in small quantities to evade detection at the border. They would conceal the contraband…

As 2024 concludes, Wall Street anticipates a holiday-shortened week with significant economic indicators poised to influence market sentiment. Key data releases include the Pending Home Sales Index, the Case-Shiller National Home Price Index, and the Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI). Source:- bbc news Pending Home Sales Index On Monday, December 30, the National Association of Realtors will publish the Pending Home Sales Index for November. This forward-looking indicator, based on contract signings, is expected to show a 7.9% year-over-year increase from November 2023’s levels. The index reached a record low this past summer due to…

A Jeju Air Boeing 737-800 crashed at Muan International Airport in South Korea, resulting in 179 fatalities out of 181 occupants. Initial reports suggested that a bird strike led to landing gear failure, causing the aircraft to skid off the runway and collide with a concrete wall. However, aviation experts have expressed skepticism about attributing the disaster solely to a bird strike. Gregory Alegi, an aviation historian, noted that while bird strikes are common, they rarely result in catastrophic failures, especially involving landing gear. Christian Beckert, an aviation safety consultant, pointed out that the aircraft’s high speed and undeployed landing…

Prashant Kishor, founder of the Jan Suraaj Party, announced plans to commence an indefinite hunger strike on January 2, 2025, in support of Bihar Public Service Commission (BPSC) candidates demanding a re-examination of the 70th Combined Competitive Preliminary Examination. Source:- bbc news Background of the Protest The BPSC candidates have raised concerns over the examination’s fairness, alleging that the questions were of a lower standard, resembling those of a police recruitment exam, and closely matched model papers from coaching institutes. They are calling for the cancellation of the exam and the conduct of a re-test. Source:- news 18 Prashant Kishor’s…

Samajwadi Party chief Akhilesh Yadav has claimed that a ‘Shivling’ exists beneath Uttar Pradesh Chief Minister Yogi Adityanath’s official residence in Lucknow, suggesting that the area should be excavated to reveal it. Source:- bbc news Yadav’s remarks come amid ongoing excavation activities in Sambhal, Uttar Pradesh, where a stepwell was recently unearthed in the Chandausi area. He criticized the Bharatiya Janata Party (BJP) for these excavations, implying that such actions are politically motivated. Source:- news 18 The excavations in Sambhal have led to tensions, with reports of violence during an Archaeological Survey of India (ASI) examination of a Mughal-era mosque,…

In the December 2024 meeting of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC), external member Dr. Nagesh Kumar advocated for a 25-basis point reduction in the repo rate, suggesting a decrease from 6.5% to 6.25%. He argued that such a cut would stimulate economic growth without exacerbating inflation, which he anticipates may decline due to seasonal price corrections. Source:- bbc news Dr. Kumar also proposed a 50-basis point reduction in the Cash Reserve Ratio (CRR) to enhance liquidity in the banking system. He believes that lowering the repo rate would reduce business costs and encourage companies to…

The India-Australia Economic Cooperation and Trade Agreement (ECTA), operational since December 29, 2022, has significantly enhanced bilateral trade between the two nations. In its first full fiscal year (2023-24), India’s merchandise exports to Australia increased by 14.23% year-on-year, reaching $7.94 billion. Imports from Australia during the same period decreased by approximately 15%, totaling $16.15 billion. Source:- bbc news The agreement’s utilization rates further underscore its effectiveness. Data indicates an export utilization rate of 79% and an import utilization rate of 84%, reflecting the active engagement of businesses in both countries with the ECTA framework. Source:- bbc news Key sectors such…

Deepak Shenoy, founder and CEO of Capitalmind, has criticized the Reserve Bank of India’s (RBI) restrictions on mutual funds investing in foreign stocks. He argues that the current limit of $8 billion, unchanged since 2009, is outdated and should be increased to $50 billion to promote Indian ownership of overseas assets. Source:- bbc news Shenoy points out that while mutual funds face these restrictions, individuals can invest up to $250,000 per person per year in foreign stocks through foreign brokers, highlighting an inconsistency in the regulations. He questions why the RBI maintains such limits, suggesting that allowing more foreign asset…

Shark Tank star and Canadian businessman Kevin O’Leary has stirred discussions by claiming that many Canadians are intrigued by former President Donald Trump’s suggestion of merging the United States and Canada. O’Leary, known for his bold opinions, stated that Canadians are “curious” about the proposal and “want to hear more.” Source:- bbc news Trump’s Controversial Proposal: Trump’s remarks, which were made during a recent interview, suggested that a merger between the US and Canada could benefit both countries economically and strategically. The idea, while controversial, posits that the union could create a stronger North American continent with unified resources and…

The death of former Prime Minister Manmohan Singh has prompted tributes from around the world, including China, which has acknowledged his significant role in shaping the relationship between the two countries. Singh, who served as Prime Minister from 2004 to 2014, was known for his diplomatic approach and efforts to stabilize Sino-India relations, especially during periods of tension. Source:- BBC news China’s Tribute: China’s Ministry of Foreign Affairs expressed deep condolences, praising Singh for his contributions to fostering a cooperative and stable relationship between China and India. They highlighted his vision and leadership, which played a pivotal role in the…

A folk singer has issued an apology after performing the bhajan “Iswar Allah Tero Naam” at an event in Patna commemorating the late former Prime Minister Atal Bihari Vajpayee. The singer’s rendition of the bhajan, which conveys a message of religious unity, stirred controversy due to its religious connotations, leading to backlash from certain sections of the audience. Source:- India Today The Incident: The event, organized to honor Vajpayee’s legacy, was attended by political leaders and a large crowd. During the event, the folk singer performed the popular bhajan, written by renowned poet and singer, Noor Jehan. While the song…

The Reserve Bank of India (RBI) has highlighted the pivotal role of personal loans and the services sector in driving credit growth across Indian banks. This insight underscores a shift in credit patterns, reflecting evolving consumer and business needs. Source:- news 18 Personal Loans Surge: Personal loans, including housing, vehicle, and consumer credit, have emerged as a major growth engine. The RBI attributes this trend to rising disposable incomes, urbanization, and increased financial literacy. Housing loans remain a significant contributor, as demand for real estate grows in tandem with government incentives for affordable housing. Source:- bbc news Services Sector Momentum:…

Manmohan Singh, India’s 13th Prime Minister, is celebrated for his transformative economic reforms that propelled India towards globalization and economic liberalization. As the architect of India’s 1991 economic overhaul, Singh’s visionary policies catalyzed growth and modernized the economy. Here are 10 pivotal reforms that reshaped India’s economic future: Source:- bbc news Economic Liberalization (1991): Singh introduced sweeping changes, reducing bureaucratic red tape and eliminating the infamous license raj. This enabled private enterprises to flourish. Source:- news 18 Foreign Direct Investment (FDI): His policies opened key sectors like telecom, aviation, and insurance to foreign investments, boosting economic growth. Devaluation of the…