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    LDF in ‘secret deal’ with BJP to shield corruption, alleges Priyanka Gandhi
    India has enough fiscal space to push capex, support sectors impacted by West Asia crisis: FM
    Bihar govt aiming to attract Rs 50 lakh crore investments in 5 years: Minister
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April 6, 2026
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Secret deal allegations and minority harassment claims dominate Priyanka Gandhi Vadra's Kerala poll campaign remarks.
Priyanka Gandhi Vadra alleged that the CPI(M)-led LDF and the BJP-led Centre had entered into a secret deal to protect political leadership and suppress scrutiny. She claimed that central agencies were used against critics of the Union government, while minorities, including Christians and nuns, were being harassed under BJP rule. She also accused both governments of corruption, favouring corporates and failing to address public concerns such as unemployment and price rise.
April 6, 2026
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Fiscal prudence and capital expenditure strengthen India's room to support affected sectors and preserve macroeconomic stability.
Fiscal prudence has created room for the government to sustain capital expenditure, support sectors affected by the West Asia crisis, and permit further monetary easing if required. India's public finance framework is described as having shifted over the past decade from consumption-led deficits to productive investment-led consolidation, strengthening macroeconomic stability through efficient and transparent spending, comparatively low debt, strong foreign exchange reserves, and recent credit rating upgrades.
April 6, 2026
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Industrial development and credit support drive investment, entrepreneurship, and manufacturing growth across Bihar's priority sectors.
Industrial development is being prioritised through investment attraction, land allotment, project execution, and scheme-based financial support for startups, women-led ventures, micro-enterprises, and artisan sectors. The financing framework also includes efforts to increase bank lending, a committee to address credit concerns, higher lending through NABARD, and continued promotion of ethanol production and procurement alongside handloom, khadi, and handicraft initiatives.
April 6, 2026
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Strait of Hormuz transit remains open for Indian-flagged LPG tankers despite conflict disruptions
Indian-flagged LPG tankers continued to transit the Strait of Hormuz despite the West Asia conflict, with two additional vessels safely crossing and proceeding toward Indian ports while 16 other Indian-flagged vessels remained stranded in the Persian Gulf. Officials stated that maritime operations remained safe and uninterrupted, and that the vessels still in the region included LNG, LPG, crude, container, dredger, chemical, and bulk cargo ships. The report notes that no information was available regarding any fee for passage through the strait, and records that Iran has said non-hostile vessels may transit after coordination with Iranian authorities.
April 6, 2026
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Bank loan fraud and insolvency irregularities probe widens as agencies examine alleged collusion, NBFC funding, and discounted claims settlements.
Bank loan fraud allegations involving the Reliance Anil Ambani Group are under investigation by the CBI and the ED, with the CBI examining seven registered cases and the ED flagging a purported Project Help arrangement and possible insolvency irregularities. The agencies are pursuing connected cases involving financing through NBFCs, discounted settlement of claims, and the possible role of public servants, while being directed to coordinate, cooperate, and complete the inquiry in a fair, transparent, independent, and time-bound manner.
April 6, 2026
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Fiscal space supports targeted relief, capital spending, and potential rate cuts amid West Asia crisis pressure.
Fiscal prudence and debt management have created fiscal space to support sectors affected by the West Asia crisis, maintain the capital expenditure programme, and permit targeted relief measures in response to external volatility. The discussion also notes that the Reserve Bank has room to cut interest rates to address wider global challenges, with emphasis on maintaining policy flexibility, supporting affected sectors, and cushioning price pressures arising from the crisis.
April 6, 2026
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Strait of Hormuz supply risk keeps oil markets volatile as countries seek alternative energy routes.
Global oil markets remained volatile amid escalating military action involving Iran, Israel and the United States, with attention focused on the threatened reopening of the Strait of Hormuz and the wider disruption risk to energy supply routes. The shipping and trade implications of the Strait of Hormuz were highlighted as especially significant for countries dependent on imported energy, including Japan and South Korea, which were reported to be seeking reserve releases and alternative transport routes.
April 6, 2026
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Electoral allegations over ideological compromise, minority targeting and tax pressure shape Kerala campaign criticism and poll promises.
Allegations were made that the CPI(M)-led LDF had entered into a secret deal with the BJP and compromised ideology, accountability and responsibility to remain in power. The speech also accused the governments of suppressing dissent, targeting minorities, pressuring Christian institutions through Income Tax scrutiny, and favouring corporates through corruption and contract awards. The UDF's poll promises included five guarantees and a proposed increase in human-wildlife conflict compensation, with payment within seven days.
April 6, 2026
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Equity markets rebound as softer crude prices, stronger rupee and banking-led buying lift benchmark indices.
Equity markets staged a broad-based rebound as softening crude oil prices, reports of ceasefire efforts in West Asia, and improved global risk sentiment supported benchmark indices. Strong buying in banking and IT stocks, together with a firmer rupee, helped offset early intraday weakness and profit booking, while sectoral gains were led by PSU banks, private banks, financial services, consumer durables, and utilities. Energy and oil & gas stocks lagged.
April 6, 2026
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Incorporated services sector survey expands official data coverage through a user guide, clearer reporting, and transparent compliance support.
Launch of the first Annual Survey of Incorporated Services Sector Enterprises (ASISSE) establishes a nationwide statistical exercise covering incorporated services enterprises for the financial year 2024-25. The survey is intended to build a comprehensive database for the incorporated services sector and to generate operational and economic indicators relevant to evidence-based policymaking and economic analysis. An accompanying user guide explains the survey's objectives, coverage, concepts, definitions, reporting requirements, and respondent queries in a reader-friendly form.
April 6, 2026
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Digital public procurement platform GeM expands inclusive access with technology-driven transparency, efficiency and anomaly detection across government purchasing.
Government e Marketplace (GeM) has expanded as a digital public procurement platform with cumulative gross merchandise value reaching Rs.18.4 lakh crore and strong turnover in the financial year 2025-26, reflecting its role in enabling transparent, efficient and inclusive procurement across government entities. GeM has adopted an inclusive procurement framework to widen access for Micro and Small Enterprises, women-led enterprises, SC/ST enterprises and startups. Technology-driven tools using artificial intelligence, machine learning and advanced analytics support catalogue validation, anomaly detection, Bid Health Scores and monitoring of suspected collusion.
April 6, 2026
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Insolvency resolution plan stays subject to appellate review as the Supreme Court seeks an early NCLAT hearing.
In insolvency proceedings concerning Jaiprakash Associates Limited, the Supreme Court declined to stay implementation of the resolution plan approving the Adani Group's acquisition, while requiring that any major policy decision by the monitoring committee be taken only with prior leave of the National Company Law Appellate Tribunal. The Court requested the NCLAT to hear the competing appeals and counterclaims on an out-of-turn basis at the earliest, noting that the matter was already listed for final hearing and that the interests of the objecting bidder were sufficiently protected for the interim stage.
April 6, 2026
Show AI Summary
Foreign exchange volatility curbed as RBI tightens bank exposure rules and supports rupee stability against the dollar.
Rupee appreciation against the US dollar followed Reserve Bank of India measures aimed at curbing speculative positions and reducing volatility in the foreign exchange market. The RBI tightened restrictions on banks' open foreign exchange exposures and onshore forward market activity, with traders describing the steps as supportive of the rupee. Market conditions nevertheless remained influenced by foreign capital outflows, a firm dollar, and crude oil prices amid geopolitical tension.
April 6, 2026
Show AI Summary
Essential commodity price monitoring continues as officials report stable supplies and urge action against hoarding and black marketing.
Government monitoring of essential commodity prices remains continuous amid West Asia-related market concerns, with officials reporting no unusual volatility in wholesale or retail prices. The consumer affairs machinery is tracking daily rates of 40 commodities from 528 centres, maintaining a control room for coordination with states, and watching complaints through the National Consumer Helpline. States have been urged to act against hoarding and black marketing under the Essential Commodities Act, while the department continues efforts to safeguard food supply and market stability.
April 6, 2026
Show AI Summary
Inflation targeting and cautious monetary policy shape RBI review amid crude oil shocks, currency weakness and geopolitical tensions.
The Reserve Bank of India's Monetary Policy Committee began its review amid expectations of an unchanged benchmark lending rate, as policymakers assess inflation risks from the West Asia crisis, volatile crude oil prices and currency weakness. The policy stance is expected to remain neutral, cautious and watchful, with liquidity conditions, transmission of past rate changes, financial market stability, capital flows and bond market dynamics also under consideration. The inflation-targeting framework continues to aim at 4% retail inflation with a 2% tolerance band on either side.
April 6, 2026
Show AI Summary
Insolvency-linked acquisition bid stays on appellate track as the Supreme Court seeks expedited NCLAT decision.
The Supreme Court declined to interfere with the National Company Law Appellate Tribunal's order refusing to stay Adani Group's bid to acquire Jaiprakash Associates Ltd. It directed the NCLAT to decide the matter expeditiously, in relation to the insolvency-linked acquisition and interim relief sought in the appellate process.
April 6, 2026
Show AI Summary
Insolvency resolution plan challenge continues as the appellate tribunal is directed to decide the JAL acquisition dispute expeditiously.
In the insolvency proceedings concerning Jaiprakash Associates Ltd., the Supreme Court declined to interfere with the appellate order that had refused to stay Adani Enterprises Ltd.'s resolution plan for acquisition of JAL. The Court directed the parties, including Vedanta Ltd. and the successful resolution applicant, to place their contentions and counterclaims before the National Company Law Appellate Tribunal, and asked the tribunal to decide the dispute expeditiously after taking up final hearing on the pending challenge to the acquisition plan.
April 6, 2026
Show AI Summary
Fabricated passport allegations and shell company claims were said to rely on altered documents and false social media sources.
Allegations concerning the Assam chief minister's wife's passports, foreign properties and shell companies were described as fabricated and based on false information sourced from a Pakistani social media group. The chief minister asserted that Congress leaders circulated morphed or altered documents, including passport images and company records, to suggest ownership of assets in Dubai and links to companies in Wyoming, and said these materials contained internal anomalies such as mismatched numbers, inconsistent identity details and facial discrepancies.
April 6, 2026
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Rupee gains after tighter forex rules curb speculation and prompt banks to unwind dollar positions.
The rupee strengthened in early trade after the Reserve Bank of India tightened foreign exchange rules to curb speculative positions and cap banks' net open positions at USD 100 million. The reported movement reflected banks unwinding dollar positions ahead of the compliance deadline, while the measures were supporting the domestic currency in the short term. The currency remained under pressure from foreign capital outflows, a stronger dollar, higher crude oil prices, and broader geopolitical tensions.
April 6, 2026
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GST fraud racket exposed through fake firms, false invoices, and e-way bill manipulation linked to tax evasion.
Police in Meerut district unearthed a GST fraud racket involving fictitious firms, fake invoices, and wrongful accumulation of input tax credit. The gang allegedly used fake Aadhaar and PAN cards to set up companies, filed fraudulent GST returns, and manipulated e-way bills to evade tax and cause a revenue loss of about Rs 17 crore. One accused was arrested on the basis of a tip-off and technical evidence, and the investigation disclosed collusion with an accomplice and other persons involved in the racket.

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Spirit Airlines goes out of business after 34 years, ending operations immediately

May 2, 2026

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West Pam Beach (US), May 2 (AP) Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced Saturday that it has gone out of business after 34 years.

The ultralow cost airline that once operated hundreds of daily flights on its bright yellow planes and employed about 17,000 people said it had “started an orderly wind-down of our operations, effective immediately.” The airline said on its website that all flights have been canceled and customer service is no longer available. Some passengers arrived Saturday for flights and were stunned to find them canceled, while workers learned overnight they were out of a job.

“We are proud of the impact of our ultra-low-cost model on the industry over the last 34 years and had hoped to serve our guests for many years to come,” Spirit's announcement said.

US Transportation Secretary Sean Duffy said Saturday that Spirit had a reserve fund set up for customers who bought directly from the airline to get refunds. People who bought from third-party vendors like travel agents would have to seek refunds from them. He had a stark message for people flying with Spirit.

“If you have a flight scheduled with Spirit Airlines, don't show up at the airport. There will be no one here to assist you,” Duffy said.

He said United, Delta, JetBlue and Southwest were offering $200 one-way flights for people who had Spirit confirmation numbers and proof of purchase for a limited time. Other airlines would also help Spirit employees who might be stranded, as well as offering them a preferential application process as they look for work.

Spirit said in a statement it was working to get more than 1,300 crew to their home bases and that the final Spirit flight landed at Dallas Fort Worth International Airport from Detroit Metropolitan Airport.

The company advised customers that they could expect refunds but there would be no help in booking travel on other airlines.

The Trump administration had considered a government bailout for the cash-strapped business to keep it from going under, but a deal was not reached. Of the potential bailout, Duffy said Saturday “we often times don't have half a billion dollars laying around.” President Donald Trump had floated the idea of a bailout last week after the airline found itself in bankruptcy proceedings for the second time in less than two years with jet fuel prices soaring because of the Iran war.

They got you there' ------------------- Five Spirit flights were still showing as “on time” on Saturday morning on the departure board in Atlanta. A trickle of passengers who hadn't heard the news were still showing up.

“What!?” exclaimed Taylor Nantang as she, her husband and four children arrived for a Saturday afternoon Spirit flight from Atlanta to Miami for a spur-of-the-moment vacation. The family had driven down from Tennessee to the Atlanta airport.

“So the whole airline at every airport is out of business?” asked Nantang. “Oh my, that's crazy.” Other passengers wondered whether the airline would still answer its customer service phone, or when the refunds for cancelled flights might arrive on their credit cards.

Joshua Sigler, who had bought a ticket Friday for a flight Saturday to Miami, said he would just return home after learning of the cancellation, rather than try to take advantage of deals other airlines were offering to stranded Spirit passengers.

He said he had gotten no communication from Spirit, which he had flown multiple times in the past. “They get you there,” he said of past flights. “It was cheap.” Boo-hoo crying' --------------- Former Spirit flight attendant Freddy Peterson was on a Spirit flight from Detroit that arrived in Newark around 11 p.m. Friday. He said that despite rumors flying on social media Friday, things seemed kind of normal, with more than 200 passengers on the plane.

“All our aircraft were packed,” he said.

Peterson, 60, said he set his alarm clock for 3 a.m. Saturday to check the company website at the hour of the rumored shutdown.

“I said, OK, well, since all this going on, they said Spirit is supposed to close at 3, I'm going to bed. I set my alarm clock for 3 o'clock, went onto the website and it said, Spirit flights have been canceled,'” Peterson said.

He said Delta Air Lines brought him and another flight attendant back to Atlanta on Saturday morning, with Peterson leaving from there to drive to his home in Shellman in southwest Georgia.

“I'll probably do my boo-hoo crying and all that other stuff once I get in the car.” Peterson said he had been a flight attendant with Spirit for 10 years and the company has “done wonders for me.” He said the airline's reputation for bargain basement chaos was largely undeserved, but he did fault management for not communicating with the employees in the closing days, saying a promised employee town hall was canceled.

Bailout fizzles --------------- As late as Friday afternoon, Trump had said that “we're looking at it" and had given the budget carrier a “final proposal” for a taxpayer-funded takeover.

Spirit has struggled financially since the COVID-19 pandemic, weighed down by rising operating costs and growing debt. By the time it filed for Chapter 11 protection in November 2024, Spirit had lost more than $2.5 billion since the start of 2020.

The budget carrier sought bankruptcy protection again in August 2025, when it reported having $8.1 billion in debts and $8.6 billion in assets, according to court filings.

White House blames Biden --------------------------- The White House had blamed President Joe Biden administration for Spirit's tenuous financial situation. Biden, a Democrat, opposed a proposed merger between Spirit and JetBlue in 2023. On Saturday, Trump administration officials took to social media to amplify voices of conservative critics who faulted Biden for Spirit's demise.

On Saturday, Duffy concentrated blame on Biden as well as his predecessar Pete Buttigieg.

“Many at the time said that this was a disaster. This merger should have been allowed,” he said.

Tad DeHaven, a policy analyst at the Cato Institute, a libertarian think tank, said the Trump administration also bears responsibility, arguing that the airline's current crisis reflects a chain reaction of policy missteps rather than a single decision. He pointed specifically to Trump's decision to strike Iran as “bad foreign policy," saying the conflict drove up jet fuel prices and Spirit's operating costs.

“They were already in trouble,” DeHaven said, describing the situation as “a compounding effect in terms of policy.” Supporters of a rescue including labor unions representing Spirit's pilots, flight attendants and ramp workers said a collapse would put thousands of Americans out of work and hurt consumers by reducing airline competition and increasing airfares. About 17,000 jobs could be impacted, according to Spirit lawyer Marshall Huebner.

Budget-conscious and leisure travelers would likely feel Spirit's absence the most, especially in places where the airline has a big footprint such as Las Vegas and the Florida cities of Fort Lauderdale and Orlando.

The carrier flew about 1.7 million domestic passengers in February, roughly half a million fewer than during the same month a year earlier, according to aviation analytics firm Cirium. Spirit also has sharply reduced its capacity, with about half as many seats available this month than in May 2024. (AP) AMS

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