National News Updates

Finance Minister Nirmala Sitharaman's Union Budget 2024 announces significant customs duty reductions on cancer drugs, mobile phones, and several other products. Cheaper goods include imported gold, silver, leather goods, and seafood. Tax relief is provided to over 4 crore salaried individuals with enhanced standard deductions.

Finance Minister Nirmala Sitharaman announced significant relief for four crore salaried individuals and pensioners in the Budget 2024-25. The standard deduction for salaried employees will increase from Rs 50,000 to Rs 75,000 and the family pension deduction will rise from Rs 15,000 to Rs 25,000 under the new tax regime. New tax rates have also been proposed.

The government announced over Rs 3 lakh crore for women and girls' schemes, emphasizing women's workforce participation. Union Finance Minister Nirmala Sitharaman highlighted hostels, skilling programs, and market access for Self Help Groups. Women's welfare allocation increased by 218.8% from FY14 to FY25.

India gained 2,66,000 hectares of forest annually from 2010 to 2020, ranking third globally, according to an FAO report. China and Australia led the list. The UN agency lauded India's innovative agroforestry policies. Significant deforestation reductions were seen in Indonesia and Brazil's Amazon. The report highlights climate change impacts on forests.

The Indian Navy's guided missile frigate INS Brahmaputra sustained severe damage and tilted heavily following a fire at the naval dockyard in Mumbai. One junior sailor is missing, and rescue operations are ongoing. Defence Minister Rajnath Singh was apprised of the incident by Navy Chief Admiral Dinesh K Tripathi.

The Congress claimed that a recent government order has lifted the ban on government employees participating in RSS activities. The authenticity of the order, shared by BJP's Amit Malviya and Congress leaders, is yet to be verified. The original ban was imposed in 1966.

The Economic Survey tabled in Parliament highlights the urgent need for a comprehensive elderly care policy in India. With the country's aging population increasing, gaps in infrastructure and geriatric care must be addressed. Integrating older individuals into the workforce can boost GDP by 1.5%.

The Economic Survey 2023-24, tabled by Finance Minister Nirmala Sitharaman, projects India's GDP growth at 6.5-7% in FY25, down from 8.2%. The survey highlights risks from geopolitical conflicts and suggests RBI should not focus on food inflation for interest rates.

Karnataka's Labour Minister, Santhosh Lad, announced the government is evaluating a Bill to extend work hours for software professionals to 14 hours daily. This proposal comes under pressure from the IT industry. The minister emphasized that public opinion and discussions among major stakeholders are crucial before making any decisions.

The Economic Survey highlights an increase in spending across sectors like transport, railways, and defence in FY24. Government capital expenditure rose to Rs 9.5 lakh crore, a 28.2% YoY increase, driving economic growth and encouraging private investments.

The Economic Survey 2023-2024 reports a decline in India's unemployment rate to 3.2% for 2022-23. The survey highlights the need for job and skill creation, with an annual requirement of 78.51 lakh non-farm jobs. It also emphasizes rising youth and female workforce participation and ongoing skill development initiatives.

PM Narendra Modi emphasized the importance of the first budget of his government's third term in achieving 'Viksit Bharat' by 2047. He urged MPs to rise above party lines and work for national progress during the monsoon session of Parliament.

An army soldier was injured on Monday when terrorists fired at a newly set up army camp in Jammu and Kashmir's Rajouri district, officials said. 

Over 1,200 Indian, Nepalese, and Bhutanese students have been evacuated from Bangladesh to India via multiple check posts in West Bengal. The Border Security Force (BSF), with support from the Border Guard Bangladesh (BGB), has ensured a safe return.

BSF Director General Nitin Agarwal reviewed the operational preparedness of troops on the International Border in Jammu during his 2-day visit. He interacted with BSF personnel and commanders, including Special DG Y.B. Khurania and IG D.K. Boora. Agarwal also attended a security meeting led by Army chief General Upendra Dwivedi.