The Bombay High Court has dismissed a habeas corpus petition filed by former Mumbai police officer Sachin Waze, challenging his arrest in the Antilia bomb scare case, where an explosive-laden vehicle was found near Mukesh Ambani's residence in 2021.
In a significant development, approximately 30,000 Indian taxpayers have declared foreign assets totaling over ₹29,000 crore, according to sources. This substantial disclosure underscores the growing compliance with the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, aimed at curbing unreported overseas wealth. The Black Money Act: An
The Reserve Bank of India (RBI) has reported a net short dollar position of $77.5 billion as of January 31, 2025. This substantial forward dollar sale has raised concerns over its potential impact on rupee liquidity and the adequacy of India’s foreign exchange reserves. Possible Effects on Rupee Liquidity The RBI’s short dollar positions are […]
External Affairs Minister (EAM) S. Jaishankar has reiterated India’s firm position that the resolution of the Kashmir issue depends on Pakistan vacating Pakistan-occupied Kashmir (PoK). His remarks emphasize India’s longstanding stance on territorial integrity and sovereignty while addressing concerns over cross-border terrorism. Jaishankar’s Stand on PoK
India is set to initiate the procurement of 114 multirole fighter aircraft (MRFA) to bolster the Indian Air Force’s (IAF) combat capabilities. This move comes as the IAF faces a shortfall in squadron strength, necessitating urgent reinforcements to maintain operational readiness. IAF’s Need for Fighter Jets The IAF currently operates with 31 fighter squadrons,
The Defence Research and Development Organisation (DRDO) has successfully conducted high-altitude trials of the Indigenous Integrated Life Support System (ILSS) for the Light Combat Aircraft (LCA) Tejas. This technological advancement is a major step in India’s efforts toward self-reliance in aerospace defense and will significantly improve pilot safety during
The Reserve Bank of India (RBI) has announced a series of liquidity measures to stabilize the financial system, including Open Market Operations (OMOs) and a foreign exchange (forex) swap auction. These steps aim to address liquidity concerns and maintain a smooth flow of credit in the economy. RBI to Infuse ₹1 Lakh Crore via OMOs […]
Prime Minister Narendra Modi has outlined a transformative vision to expand India’s pharmaceutical industry to ₹10 lakh crore (approximately $150 billion) through strengthened collaboration between academia and industry. This strategy is designed to accelerate research, innovation, and self-reliance, ensuring India’s continued leadership in global healthcare. India:
The government has urged Indian Railways to intensify its asset monetization efforts after concerns were raised over the slow progress in unlocking the financial potential of railway assets. Authorities have emphasized the need for a more aggressive approach to meet the sector’s revenue generation targets and support infrastructure modernization. Railways Urged to Meet
The Indian Navy is set to enhance its naval capabilities with the induction of two advanced stealth frigates, INS Himagiri and INS Udaygiri. These state-of-the-art warships are part of the Project 17A initiative, aimed at modernizing the naval fleet and strengthening India’s maritime security. Project 17A: Strengthening India’s Naval Power Project 17A is an advanced […]
