August 13, 2025
US Imposes 50% Tariffs on Indian Goods Amid Trade Talks, Cites Section 301 Concerns
The United States Treasury Secretary criticized India for being uncooperative in ongoing trade negotiations, despite efforts to finalize tariff and trade agreements by October. While US officials continue legal and diplomatic work to resolve issues with multiple countries, including India and Switzerland, the US has imposed tariffs totaling 50% on Indian goods, including a 25% tariff on Indian purchases of Russian oil effective August 27. India's government condemned these tariffs as unjustified and warned it would take necessary measures to protect its national interests. The tariff imposition coincides with a scheduled US delegation visit to India for the sixth round of bilateral trade talks, aiming to complete the first phase of an agreement by fall.
August 13, 2025
Equity Markets Rise on Low Domestic Inflation and Steady US Prices, Boosting Investor Confidence
Equity benchmark indices rose in early trading following steady US inflation data and a domestic retail inflation rate dropping to an eight-year low of 1.55 percent in July, below the central bank's comfort zone. This inflation data contributed to positive market sentiment, leading to gains in major shares, while some firms experienced declines. Asian markets also showed positive trends, and US markets ended higher the previous day. Despite foreign institutional investors selling equities worth significant amounts recently, market optimism was supported by inflation figures and potential geopolitical developments. Global oil prices saw a slight increase. The overall market movement reflects investor response to inflation data and international economic cues.
August 13, 2025
Central bank sells foreign reserves to stabilize currency amid outflows and global economic pressures
The domestic currency depreciated marginally against the US dollar amid ongoing foreign capital outflows and global economic pressures. The central banking authority intervened by selling substantial foreign currency reserves to stabilize the exchange rate, reflecting efforts to mitigate excessive depreciation. Despite these measures, external factors such as elevated trade tensions and expectations of US monetary easing continue to exert downward pressure on the currency. Concurrently, domestic inflation rates have declined significantly, potentially prompting further interest rate reductions, which may further influence currency valuation. Foreign institutional investors have recently divested substantial equity holdings, contributing to market volatility.
August 13, 2025
Government Approves Rs.8146 Crore for 700 MW Hydroelectric Project with 72-Month Completion Timeline
The government approved an investment of Rs.8146.21 crore for constructing a 700 MW hydroelectric project in a district of Arunachal Pradesh, with a 72-month completion timeline. The project will be executed by a joint venture between a central power corporation and the state government, with central financial assistance and budgetary support for infrastructure development. The state will receive 12% free power and additional benefits through a local development fund. The project aims to enhance regional power supply, support national grid stability, and promote socio-economic development through infrastructure improvements, including roads, bridges, and community facilities funded by dedicated project resources. Employment opportunities and benefits for local enterprises and communities are integral to the project, aligning with national self-reliance initiatives.
August 13, 2025
South Asian Leader to Address UN Amid US Tariffs and Ongoing Trade Talks Under Section 301
A head of government from a South Asian country is expected to address the 80th session of the United Nations General Assembly in September. The session will feature high-level debates with multiple world leaders, including the US president. The two countries involved are negotiating a multi-sector bilateral trade agreement aimed for completion by fall 2025. Despite ongoing talks, the US imposed tariffs totaling 50% on the South Asian country, including a 25% tariff on its purchases of Russian oil, effective late August. The South Asian country's government has condemned the tariffs as unjustified and stated it will take necessary measures to protect its national interests and economic security. The US team is scheduled to visit the South Asian country for the sixth round of trade negotiations shortly before the tariffs take effect. The UN General Assembly speaker list remains provisional and subject to change.
August 13, 2025
US National Debt Hits $37 Trillion, Surpassing Projections Due to Pandemic Borrowing and New Legislation
The national debt of the United States has reached a record USD37 trillion, surpassing previous projections by nearly a decade due to accelerated borrowing during the COVID-19 pandemic and recent tax and spending legislation. This rapid increase in debt, adding approximately one trillion dollars every five months, raises concerns about rising interest rates, reduced private sector investment, and crowding out of federal budget priorities. Experts emphasize that continued borrowing will increase costs for consumers and businesses, potentially leading to higher prices and lower wages. The debt growth is linked to government policies enacted during and after the pandemic, with projections indicating ongoing substantial borrowing in the coming years. Calls have been made for urgent policy action to address the escalating fiscal challenges.
August 13, 2025
Trump Admin's 2024 Human Rights Reports Shift Focus, Omit LGBTQ and Reproductive Rights Issues
The Trump administration released revised human rights reports for 2024 that omit references to LGBTQ discrimination and reproductive rights, focusing instead on free speech and anti-abortion stances. The reports criticize political speech restrictions in certain European allies and highlight poor human rights conditions in many countries agreeing to accept deported migrants from the US, except for one Latin American country reported to have taken credible steps against abuses. Several African countries accepting deportees were noted for arbitrary killings, torture, and suppression of freedoms without credible governmental accountability. South Africa was singled out for worsening human rights, particularly regarding land reforms affecting a racial minority. The reports also allege restrictions on right-wing speech in the UK, France, Germany, and Brazil, claiming these actions undermine democratic debate, though these governments have denied such claims. Human rights groups condemned the reports for downplaying abuses and omitting survivor accounts.
August 13, 2025
Six Executives Banned for 3-5 Years, Fined Rs 120 Crore for Fraudulent Loan Scheme and Account Manipulation
A securities regulator barred six former executives and directors of a housing finance company from the securities market for three to five years and imposed fines totaling Rs 120 crore for financial irregularities, fund diversion, and falsification of accounts. The individuals orchestrated a fraudulent scheme from 2006 involving the extension of unsecured loans to related entities lacking assets or business, which were misrepresented as retail housing loans. This was achieved through fabricated branch operations and manipulated accounting software to conceal the true nature of the loans, resulting in fictitious interest income and inflated profits that misled investors and distorted the company's share price. The banned individuals are prohibited from accessing the securities market or holding key roles in listed or public companies during the ban period. The investigation revealed that billions of rupees were disbursed to related entities, with a significant portion routed further to other promoter-connected entities.
August 13, 2025
Global real Asset Manager to Invest Rs 9,200 Crore in Data Centres, Logistics, Industrial Parks by 2030
A global real asset management firm has entered into an initial agreement with the Maharashtra government to invest over Rs 9,200 crore by 2030, focusing on data centres, logistics, and industrial parks in Mumbai and Pune. The investment aligns with the firm's broader strategy to grow its India funds under management from 8 billion to 15 billion Singaporean dollars by 2028. The firm has operated in Maharashtra since 2013 and currently manages multiple business parks, data centres, and logistics facilities across key Indian cities. It plans to expand its leasable area in Maharashtra by 4.5 million square feet and develop logistics projects totaling 17 million square feet to meet rising demand from e-commerce and manufacturing sectors. The company's data centres in major cities have a combined power capacity of 244 megawatts, supporting digital infrastructure growth. The partnership reflects ongoing collaboration between the firm and the Maharashtra government.
August 13, 2025
Three passengers caught smuggling drugs worth Rs 5 crore and protected wildlife at Mumbai airport under customs rules
Two travellers arriving from Bangkok at Mumbai airport were arrested for carrying hydroponic weed valued at over Rs 5 crore in separate incidents, with narcotics concealed in luggage. Additionally, a third passenger was detained for attempting to smuggle various protected wildlife species, including birds and a honey bear. The seizures occurred between August 8 and 11, with authorities acting under customs regulations to prevent illegal importation of controlled substances and endangered animals.
August 12, 2025
Delhi govt challenges Rs 27,000 crore dues order under regulatory asset valuation dispute
The Delhi government is seeking legal advice regarding a Supreme Court order mandating the payment of approximately Rs 27,000 crore in dues to the city's three private electricity distribution companies within three years. The government disputes the valuation of regulatory assets determined by the power regulator and plans to approach the court for a suitable remedy. The regulatory assets represent deferred revenue gaps intended to be recovered through future tariff hikes, which have significantly increased over the years. The ruling party attributes the rise in these assets to mismanagement by the previous administration, while the opposition accuses the current government of using the order as a pretext to increase electricity tariffs. The dispute centers on balancing the interests of consumers with the financial viability of discoms, amid a decade-long freeze on electricity rates and tariffs in Delhi.
August 12, 2025
Union Home Ministry requires Aadhaar or alternate ID for smart cards and visitor passes at new secretariat buildings
The Union Home Ministry has mandated Aadhaar authentication for individuals seeking smart cards and visitor passes to access newly constructed central secretariat buildings. The Secretariat Security Organisation, with approval from the Ministry of Electronics and Information Technology and UIDAI, will conduct voluntary Aadhaar-based identity verification. Applicants will be informed of alternative identification options, including PAN Card, Voter ID, Passport, or Departmental ID, and refusal to undergo Aadhaar authentication will not result in denial of access. This measure accompanies the inauguration of a new government office complex designed with advanced security features and centralized access controls to enhance operational efficiency and security for multiple central ministries and departments.
August 12, 2025
Former Athlete Questioned Under PMLA for Links to Illegal Betting App Money Laundering Case
A former professional athlete is scheduled to appear before the Enforcement Directorate for questioning in connection with an alleged illegal betting app-related money laundering investigation. The individual is linked to the app through endorsements, and authorities aim to clarify these connections. The agency is investigating multiple cases involving illegal betting apps accused of defrauding investors of substantial sums and evading taxes. Statements are expected to be recorded under the Prevention of Money Laundering Act during the inquiry.
August 12, 2025
State orders transparent, time-bound tenders for Rs 342 crore urban projects with quality checks and savings measures
The state government directed officials to implement a transparent, efficient, and time-bound tender process for civil works to expedite urban infrastructure and beautification projects. A standard operating procedure with clear timelines and responsibilities was mandated to prevent delays. The high-powered works purchase committee approved projects totaling approximately Rs 342 crore, achieving savings of about Rs 11.90 crore through rate negotiations. Emphasis was placed on strict quality standards, with recognition for contractors delivering high-quality work and penalties for substandard performance. Specific approvals included Rs 15.30 crore for urban beautification in one municipal corporation, Rs 13.92 crore for development at a dairy complex, and Rs 13.50 crore for redevelopment of a religious shrine complex, aiming to enhance public spaces, promote tourism, and improve citizens' quality of life.
August 12, 2025
Supreme Court orders relocation of stray dogs under Section 11 to prevent rabies and ensure public safety
The Supreme Court directed authorities in the Delhi-NCR region to relocate all stray dogs to shelters due to concerns over rabies and public safety. The Delhi government announced it will implement the order with compassion, seeking stakeholder input and planning a phased approach starting after Independence Day. The directive has sparked protests from animal rights activists and public figures who argue that removing street dogs en masse is cruel, impractical, and disrupts ecological balance. Officials clarified that current dog removals are routine and unrelated to the court order. The government emphasized the need for detailed planning and resource allocation before full implementation. The order follows incidents of stray dog attacks, including a fatality, prompting calls for improved control measures. The government continues to conduct sterilization and immunization programs and is engaging with NGOs and welfare groups to develop a humane strategy in compliance with the court's directive.
August 12, 2025
Registered companies nearly doubled from 2011 to 2025 with 5.7M new MSMEs and 3,400 startups launched
A parliamentary reply revealed that the number of registered companies in a certain Indian state increased from 137,000 in 2011 to 250,000 in 2025, with over 40,000 companies incorporated between 2020 and 2025. Approximately 1,742 companies relocated their registered offices out of the state during this period. State government data indicated the addition of 5.7 million new micro, small, and medium enterprises (MSMEs), employing 13 million people, and an increase in MSME clusters from 49 to 654. Over 3,400 recognized startups were launched in the last five years. The state also hosts more than 1,000 software companies with major investors and 2.6 lakh direct IT employees, with IT parks in smaller cities operating at 85% capacity. Political representatives accused the central ruling party of attempting to suppress these facts through parliamentary disruptions.
August 12, 2025
ED raids corporate group for alleged Ponzi scheme under PMLA involving forced re-deposits and asset attachments
The Enforcement Directorate conducted searches across multiple states in connection with a money laundering investigation involving a major corporate group. The raids targeted premises linked to land and share transactions associated with the group. The investigation arises from several FIRs alleging widespread cheating of depositors through forced re-deposits and denial of maturity payments, with over 300 FIRs involving scheduled offences under the Prevention of Money Laundering Act. The agency alleges the group operated a Ponzi scheme, managing funds without depositor oversight, coercing reinvestments, manipulating records, and siphoning funds for illicit purposes including benami assets and personal expenses. Despite financial incapacity, the group continued collecting deposits. The agency has attached significant assets and arrested two individuals connected to the group, who remain in judicial custody. The group's former chief passed away in 2023.
August 12, 2025
Indian Railways posts Rs 2,517 crore surplus despite overspending and uncovered passenger losses in 2022-23 audit report
The Comptroller and Auditor General's report on the Indian Railways for the financial year 2022-23 revealed a 25.51% increase in earnings from passenger and freight operations, totaling Rs 2,39,982.56 crore. Despite this, the Ministry of Railways incurred Rs 4,41,642.66 crore in expenditures, including Rs 6,483.71 crore of unsanctioned spending. A net surplus of Rs 2,517.38 crore was reported, reversing the previous year's deficit. Freight profits subsidized passenger service losses, which remained uncovered at Rs 5,257.07 crore. Investment in Railway Public Sector Enterprises reached Rs 5,38,869.02 crore, with most enterprises profitable, though only a few declared dividends as required. Audit findings highlighted budgetary and accounting control issues, including unauthorized fund allocation to a frozen project and unassessed productivity tests on completed projects, raising concerns about financial oversight and project management within the railways.
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