Junior Digest

Sept 11,2025: Oracle shares surged about 43% to a record high on Wednesday, putting the company on track to join the elite trillion-dollar club and propelling co-founder Larry Ellison closer to the top of the world’s richest list.
The company unveiled four multi-billion-dollar contracts on Tuesday, amid an industry-wide shift, led by companies such as OpenAI and xAI, to aggressively spend to secure the massive computing capacity needed to stay ahead in the AI race.
The stock was last up 36.7%, after rising to hit a record high of $345.69, set for its biggest one-day percentage jump since 1992. Separately, the Wall Street Journal reported on Wednesday that OpenAI has signed a contract to purchase $300 billion in computing power from Oracle over roughly five years, marking one of the biggest cloud contracts ever signed.
A majority of the new revenue Oracle described on Tuesday will come from the OpenAI deal, the report said. OpenAI did not immediately respond to a Reuters request, while Oracle declined to comment.
Ellison, 81, whose net worth is largely derived from his 41% stake in Oracle, saw his fortune rise by about $100 billion to around $392.6 billion, according to Forbes.
He is rapidly closing in on Tesla chief Elon Musk in the race for the title of the world’s richest person. Musk’s net worth last stood at $439.9 billion.
Oracle will add about $234 billion to its market valuation, taking the total to around $913 billion, if gains hold, and bringing the company closer to the coveted $1 trillion-dollar club.
Its shares have risen 45% so far this year, outperforming the so-called Magnificent Seven stocks and the broader S&P 500 index (.SPX), with investors betting big on AI-driven cloud firms.
Oracle’s stock rises more sharply than others over the year, moving ahead of its competitors.
Currently, Microsoft and Google Cloud dominate the cloud computing market with a combined 65% share, while Oracle, Alibaba, CoreWeave and others hold a smaller slice of the market.

TOKYO, Jan 24,2025: The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

The decision marks the BOJ’s first rate hike since July last year and comes days after the inauguration of U.S. President Donald Trump, who is likely to keep global policymakers vigilant ahead of potential repercussions from threatened higher tariffs.

BOJ Governor Kazuo Ueda said the central bank will keep raising interest rates as wage and price increases broaden, adding that there was scope to push up borrowing costs further before they reach levels deemed neutral to the economy.

But he offered few clues on the timing and pace of future rate hikes, saying the decision will be based on how soon Japan will see trend inflation sustainably hit the BOJ’s target.

“We don’t have any preset idea. We’ll make a decision at each policy meeting by looking at economic and price developments as well as risks,” he told a press conference after the policy decision.
The widely expected move marks another step Japan is taking away from the deflation and stagnant economic growth that dogged the country for decades.

Katra (J&K), June 6,2025: Prime Minister Narendra Modi on Friday inaugurated the world’s highest Chenab rail bridge in Reasi district of Jammu and Kashmir.

The PM was accompanied by Union Railway Minister Ashwini Vaishnaw, Union minister Dr Jitendra Singh, Jammu and Kashmir Lieutenant Governor Manoj Sinha and Chief Minister Omar Abdullah.

Before the inauguration, the PM inspected the bridge and spoke to the engineers and the labourers, who turned the dream into a reality.

The Chenab rail bridge is the architectural marvel; it is located at a height of 359 meters above the river, and is the world’s highest railway arch bridge. It is a part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project.

The 1,315-metre-long steel arch bridge is built to withstand seismic and wind conditions. A key impact of the bridge will be in enhancing connectivity between Jammu and Srinagar.

Through the Vande Bharat train moving on the bridge, it will take just about 3 hours to travel between Katra and Srinagar, reducing existing travel time by 2-3 hours.

The 272-km USBRL project is built at a cost of around Rs 43,780 crore, and includes 36 tunnels (spanning 119 km) and 943 bridges.

The project establishes all-weather, seamless rail connectivity between the Kashmir Valley and the rest of the country, aiming to transform regional mobility and drive socio-economic integration.

Washington, DC [US], January 24, 2025: A bipartisan pair of US House lawmakers have introduced a bill aimed at revoking China’s Permanent Normal Trade Relations (PNTR) status.
The legislation introduced on Thursday builds on prior Republican efforts to repeal Beijing’s preferential trade status, reflecting ongoing concerns over China’s trade practices, The Hill reported.
The bill seeks to address criticisms of China’s trade policies and aims to impose more economic costs on China. It would make a significant shift in US trade policy, particularly with respect to China’s manufacturing practices, which are seen as detrimental to American jobs and industries.
The legislation comes amid broader US efforts under both Trump and Biden administrations to increase tariffs on Chinese imports. This move is also in line with previous actions taken to hold China accountable for what many see as unfair trade practices and a challenge to fair competition.
Rep. John Moolenaar (R-Mich.), a leading proponent of the bill, argued that for too long, the PNTR status has harmed US manufacturing, outsourced jobs abroad, and allowed China to exploit US markets.

“For too long, permanent normal trade relations with China have undermined our manufacturing base, shifted American jobs abroad, and allowed the CCP to exploit our markets while betraying the promise of fair competition,” said Moolenaar. He further emphasised that the bill would protect US national security, enhance supply chain resilience, and bring back jobs to the US and its allies, reported The Hill.
Moolenaar introduced the bill with Rep. Tom Suozzi (D-N.Y.), while a companion version was filed in the Senate by Sens. Tom Cotton (R-Ark) and Jim Banks (R-Ind). Secretary of State Marco Rubio, former senator from Florida, also co-sponsored the bill when it was initially introduced in November.
The Restoring Trade Fairness Act would end China’s PNTR status and introduce a new tariff system. Under the bill, non-strategic goods from China would be subject to a 35 per cent tariff, while strategic goods would face a 100 per cent tariff. The proposed tariff list would align with the Biden administration’s Advanced Technology Product List and China’s Made in China 2025 plan.
The revenue from the tariffs would be allocated to US farmers and manufacturers, as well as used for military equipment purchases in the Indo-Pacific region. The tariff increase would be phased in over five years, The Hill reported.
The bill emerges as President Donald Trump suggested a blanket 60 per cent tariff on Chinese imports and additional tariffs on China for not doing enough to curb fentanyl trafficking. He has also signaled potential tariffs on Russia and countries supporting its war in Ukraine, which may include China.

New Delhi, July 16,2025: NITI Aayog (National Institution for Transforming India), apex public policy think tank of India, revealed its “Trade Watch Quarterly” publication for the third quarter of the Financial Year 2025. The focus of this edition is on measuring the implications of tariffs imposed by the United States on India’s export competitiveness.

Dr Arvind Virmani, Member of NITI Aayog, released the edition and congratulated the entire team for providing in-depth insights about the latest trade turbulence and India’s status in the current trade evolution rounds. He also pointed towards the rising competitiveness, innovation, and strategic efforts to expand India’s presence in key markets such as the United States.

This report presented a data-driven picture of current economic health, including the Quarter 3 merchandise exports grew to the mark of 3pc (approx $108.7 billion), service surplus growth of $52.3 billion. The growth of the service sector is driven by a 17 pc growth in India’s service exports. This also shows the optimism of global consumers in the Indian economy. India also emerged as the world’s fifth-largest exporter with an investment of $269 billion in Digitally Delivered Services (DDS).

The Trade Watch Quarterly report also highlighted that India can leverage the opportunity to expand its footprint in the US market. It’s especially for the sectors such as pharmaceuticals, textiles, electric machinery, and others.

The third Trade Watch Quarterly report pointed out the importance of the United States as a key trade destination for India. The report suggested some policy shifts, including targeted export promotion, deep integration into global value chains, and service-focused trade agreements.

The report also highlighted the key sectors, including digital trade and cross-border data flows, including agility in policymaking on making new trade alignments. This thematic edition serves as a base for policymakers, industry, and academia to prioritize key policies regarding trade.

New Delhi, August 30,2024: The Vadhvan Port of which PM Modi laid the foundation stone on Friday, is set to boost India’s trade in many aspects because of its strategic location and capacity.
Situated in Palghar, Maharashtra, Vadhvan Port will be India’s largest deep-water port with an investment of Rs 76,220 crore.
The port will improve India’s connectivity with Central Asia and Russia and will give boost trade through the International North-South Transport Corridor (INSTC) and India-Middle East-Europe Economic Corridor. The port is anticipated to lower some pressure from Jawaharlal Nehru Port, which is currently the largest container-handling port in India.
The port will become a game changer for Maharashtra’s economy, as per the government estimates it will contribute over one per cent to Maharashtra’s GDP and will help in the growth and prosperity of the region.
The port will also be connected with the Dedicated Freight Corridors with the Delhi-Mumbai Industrial Corridor and will ensure faster, more efficient connectivity of cargo.
The Vadhvan Mega Port will be completed in two transformative phases which will have state-of-the-art facilities with unmatched capabilities. By the end of its second phase, the Vadhvan Megaport will handle a 23.2 million TEUs.
TEU stands for “twenty-foot equivalent unit” and is a unit of measurement used in the shipping industry to measure the volume of cargo in the containers.
In terms of employment generation through the port, the government stated that it will generate around 12 lac direct jobs and over one crore indirect jobs.
According to the government, from the beginning, the port was conceived as a green port. It balances economic growth with environmental stewardship in support of India’s blue economy. The port will spur economic and social development of the coastal communities and the entire region of Maharashtra.
The Vadhvan Port will also enhance India’s maritime connectivity and further strengthen its position as a global trade hub. It is set to be operational by 2030.
Prime Minister Narendra Modi also called the ‘Vadhvan Port project’ a “very special project” and said it will contribute towards the development of India. PM Modi also said that this project will reaffirm Maharashtra as a “powerhouse of progress”.

February 1, 2025: Union Finance Minister Nirmala Sitharaman presented her 8th budget on Saturday. The Finance Bill is set to be tabled next week, according to the Finance Minister.

Nirmala Sitharaman, in the Budget 2025 announcement, proposed revised tax rates, which highlights that income up to ₹12 lakh will draw zero income tax rates under the new tax regime.
Capex: India’s capital expenditure (Capex) rises to ₹11.21 crore as per the budget estimates of FY2025-26, the budget estimates of FY2024-25 was at ₹11.11 lakh crore, according to the budget data.
Bihar Makhana: Budget 2025 announced India’s plans to create a Makhana Board, which will be established in Bihar to improve the production, processing, value addition, and marketing of Makhana.
Job Scheme: The Modi 3.0 government accounted its plans to generate 22 lakh jobs in the economy through this scheme. India aims to enhance the productivity, quality, and competitiveness of India’s footwear and leather sector.
UDAN Scheme: The government also plans to launch a modified version of the UDAN Scheme, which aims to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the coming 10 years.

To boost India’s agriculture sector, FM Sitharaman announced multiple agriculture support schemes, expanded credit limit for farmers, MSMEs, and startups. There was a focus on boosting cultivation of pulses and cotton.

Finance Minister Nirmala Sitharaman included the gig economy workers to Centre’s several employment welfare schemes. Now, gig economy workers can take the benefit of identity cards and be enrolled in a national registry to ensure their inclusion in welfare schemes
India’s Nuclear Move
According to Nirmala Sitharaman’s Budget announcement, the government plans to launch a Nuclear Energy Mission for research and development of Small Modular Reactors (SMR).
India allocated ₹20,000 crore for it to be set up and said that it will develop five SMRs, which would be operational by 2033.
Budget Speech’s hot topic ‘Bihar’
According to Nirmala Sitharaman’s announcement and the Budget speech, Bihar remained the hot topic for the government this year. Sitharaman mentioned Bihar six times in her entire speech, the Finance Minister did not name any other state during the Lok Sabha and Nation address.
Proposals ranged from Makhana Board to Greenfield Airports, as per the budget announcement.

IT and Telecom allocations dropped to ₹95,298 crore for FY2025-26.
According to the Union Budget data, the IT and Telecom sector allocations dropped to ₹95,298 crore for FY2025-26, while the FY2024-25 budget estimates were at ₹1.16 lakh crore.

These were the most important numbers for the day:

1. Total receipts (excluding borrowings) – 31.47 lakh crore

2. Net tax receipts – 25.57 lakh crore

3. Total expenditure – 47.16 lakh crore

4. Capital expenditure – 10.18 lakh crore

5. Fiscal deficit – 4.8 per cent of GDP

(As per the FY25 revised estimates)

What will become cheaper?

Union Budget 2025 Highlights: According to Nirmala Sitharaman’s Union Budget 2025 announcement, these are the following items which are meant to become cheaper after the government’s guidance.

1. Cancer and lifesaving drugs

2. Solar PV cells and lithium-ion batteries

3. Lithium-ion batteries for EVs and mobiles

4. Telecom equipment
India’s Energy allocation rose 18% YoY as per budget estimates
According to the Union Budget data, India’s allocation to Energy increased to ₹81,174 crore as per the budget estimates of FY2025-26, compared to ₹68,769 crore as per the budget estimates of FY2024-2.
What does an increase in FDI limit mean?
According to the Budget 2025 announcement, the government of India increased the foreign direct investment (FDI) limit for the insurance sector from 74% to 100%.

This move from the government comes to attract more foreign investment into the insurance sector in the Indian market. “This enhanced limit will be available for those companies which invest the entire premium in India,” according to the Budget announcement.

India pegs Defence Budget at ₹4.91 lakh crore for FY2025-26
The Indian government pegged its Defence spending budget estimates at ₹4.91 lakh crore for FY2025-26. The government spent ₹4.56 lakh crore in the FY2024-25, as per the revised estimates.

New tax regime advantageous for younger taxpayers?

According to the new tax proposals laid out by Nirmala Sitharaman, the new tax regime aims to ensure that individuals have more disposable income to spend and invest in the manner they want.

The old tax regime makes individuals invest in tax-saving investment options like ELSS, provident funds, pension funds, life insurance among other things. It also made people buy houses with bank loans to reduce the tax outgo.

A young taxpayer is not required to make forced investments which people in the old tax regime used to make to save taxes. The new regime has brought the tax slabs down for the middle-income and low-income earners.

What is Section 87A rebate?

Union Budget 2025 Highlights: According to the Income Tax Act of 1961, eligible taxpayers get a total waiver of income tax if their total income for the year is below ₹5 lakh.

As per the proposal of the Budget 2025, Section 87A has been revised for resident individuals, the rebate limit has been increased from ₹7 lakh to ₹12 lakh and the maximum rebate from ₹25,000 to ₹60,000.

However, the rebate will not apply to income taxed at special rates if the individual stays in the default tax regime, according to the data.
The ‘dream budget’ for middle class?

Union Budget 2025 Highlights: Nirmala Sitharaman’s Budget 2025 announcement is being termed as the “dream budget” for the middle class as the Union Finance Minister proposed no tax till the income of ₹12 lakh per year.

Key tax points you need to look out for:

1. Taxpayers with a normal income (excluding special rate income like capital gains) of up to ₹12 lakh will have no tax liability due to a rebate and reduced slab rates.

2. Those earning ₹12 lakh will receive a tax benefit of ₹80,000, which covers 100% of their tax payable under existing rates. For an income of ₹18 lakh, the benefit is ₹70,000, covering 30% of the tax payable.

3. Similarly, a person earning ₹25 lakh will get a benefit of ₹1,10,000, which accounts for 25% of their tax liability under the current rates.

Where is Govt earning from?

Union Budget 2025 Highlights: The Indian government expenditures are diversified in terms of supporting national security, public good, and economic development.

According to the budget 2025 data, the biggest share goes to the state’s taxes and duties at 22%. Interest payments that result from previous borrowings are at 20%. Central sector schemes at 16% of the total spending, 8% goes to Finance Commission transfers and other grants, are among many other costs which the nation has to expend and estimate for its budget every year.

Where does money come from?

Union Budget 2025 Highlights: The government of India earns from the collection of tax revenues and non-tax revenues.

According to the Union Budget 2025, the government earned 39% of the total receipts from income and corporate taxes compared to the previous year. The GST collection trends show a consistent consumption pattern unchanged at 18%.

The government earned 5% from union excise duties and 4% from customs duties, according to the budget data.

India to launch a modified UDAN Scheme.
The Indian government plans to launch a modified version of the UDAN Scheme, which aims to boost regional connectivity in India. The scheme aims to connect 120 new destinations and carry four crore passengers in the coming 10 years, according to the Budget announcement.

Budget proposes to lift restrictions on claiming two properties as self-occupied.

In the Budget announcement, Union Finance Minister Nirmala Sitharaman proposed that India plans to lift restrictions on claiming two properties as self-occupied to streamline the process for taxpayers.

India’s Capex target drops in FY2025-26.

India’s capital expenditure (Capex) target drops to ₹11.21 crore as per the budget estimates of FY2025-26, compared to the budget estimates of FY2024-25 at ₹11.11 lakh crore, according to the budget data.

Fiscal Deficit estimated to be 4.4% of GDP for FY2025-26.
India’s Fiscal Deficit is estimated to be 4.4 per cent of GDP at ₹15.68 lakh crore as per the budget estimates for FY2025-26.
India’s market borrowings estimates at ₹11.53 lakh crore as per the FY2025-26 budget estimates.

Union Finance Minister Sitharaman said the gross market borrowings through bonds and other dated securities are estimated to be ₹11.53 lakh crore as per the budget estimates of 2025-26, according to the budget announcement.

The gross market borrowings via bonds, as per the budget estimates of FY2024-25, were at ₹14.01 lakh crore, as per the July Budget data.

India’s capital receipts borrowings estimated to be at ₹15.68 lakh crore for FY2025-26

India’s estimate for capital receipt borrowings is ₹15.68 lakh crore for FY2025-26, according to the budget data.

According to the July Budget 2024 data, India’s borrowings and other liabilities under capital receipts for the FY2024-25 budget estimates were ₹16.13 lakh crore.

Capital receipts are money inflows that the government receives from non-recurring activities and are used to create long-term investments, pay off debts, and plan expansion.

India’s manufacturing aims
The Indian government aims to support “Clean Tech Manufacturing” to improve domestic value addition, jobs and build an ecosystem for solar PV cells, EV batteries, motors and controllers, electrolyzers, wind turbines, very high voltage transmission equipment and grid-scale batteries, according to the budget announcement.

India exempted basic customs duty on Wet Blue Leather.
The government announced that it has decided to fully exempt the basic customs duty on Wet Blue Leather. India aims to help imports for domestic value addition and employment.

Govt to launch ‘Customized Credit Card’ with ₹5 lakh limit for Micro Enterprises.

The government will launch a ‘Customized Credit Card’ with ₹5 lakh limit for Micro Enterprises, registered on the Udyam portal. According to the budget announcment, the government plans to launch 10 lakh cards in the first year.

FM Sitharaman on New Income Tax says, ‘Everyone is getting benefits…’

Union Finance Minister Nirmala Sitharaman said that every salaried individual is getting benefits from this new system, as overall tax rates have also been brought down.

“Across the board, everyone is getting benefits, as all the groups are getting benefits,” said Sitharaman.

FM Sitharaman on the new Finance Bill.

Union Finance Minister Nirmala Sitharaman says she hopes the upcoming Finance Bill gets past without any “difficulties.”

“I hope it gets passed without any difficulties…,” said Sitharaman.

Centre announced new Urea plant plans in Assam.

According to the Budget announcement, a new Urea plant is to be set up in Namrup, Assam. The plant is set to have an annual capacity of 12.7 lakh metric tonnes.

Centre will create ‘Makhana Board’ in Bihar.

Nirmala Sitharaman announced that the central government would create a “Makhana Board” in Bihar to improve the production, processing, value addition, and marketing of Makhana.

India to create 22 lakh jobs

According to the budget announcement, India aims to generate 22 lakh jobs in the economy through a newly launched “Focus Product Scheme” in the footwear and leather industry.

What will the new Income Tax bill have?

According to the Budget announcement, the New Income Tax Bill, which is set to be tabled next week, will be 50% less in text compared to the present law. With this move, the government aims to simplify the topic of taxation for taxpayers and the tax administration. They also aim to create tax certainty and reduce litigation.

Govt exempted 36 lifesaving drugs and medicines from the basic customs duty.

FM Nirmala Sitharaman announced the exemption of 36 lifesaving drugs and medicines from the basic customs duty (BCDs) on Saturday, February 1.

Centre hikes MSME investment and turnover limits

Budget 2025 Key Highlights: The government hiked the MSME investment and turnover limits 2.5 and 2 times, respectively, in the Union Budget 2025 announcement.

Govt’s plan to boost India’s tourism
India plans to boost tourism in the nation, as Union Finance Minister announced the plans to develop the top 50 tourist sites in partnership with the State.

The Centre announced the introduction of an intensive skill-development programme for the youth. Sitharaman announced that the government will provide MUDRA loans for homestays. They also provide performance-linked incentives to states. They also announced e-visa facilities in the Budget announcement.

New Delhi, November 7,2024: Exercising its extraordinary powers under Article 142 of the Indian Constitution, the Supreme Court on Thursday ordered the liquidation of the grounded air carrier Jet Airways after finding out that the resolution plan was not implemented.
The apex court also set aside the National Company Law Appellate Tribunal (NCLAT) order that approved the transfer of ownership to Jalan Kalrock Consortium (JKC). The decision was taken by a bench of Chief Justice of India (CJI) DY Chandrachud, Justices JB Pardiwala and Manoj Misra.
The liquidation was ordered in view of the “peculiar and alarming” circumstance that the resolution plan has not been implemented for five years, the top court said.

“We exercise plenary powers and direct that corporate debtor is taken into liquidation. Appeals succeed. NCLAT order set aside. In peculiar and alarming circumstance since five years passed since NCLAT cleared resolution plan, thus under Article 142, we direct corporate debtor is taken into liquidation and Rs 200 crore stands forfeited. Lenders are permitted to encash the performance bank guarantee. NLCT Mumbai to appoint liquidator forthwith,” said the apex court in its order, allowing appeals filed by airlines’ lenders led by State Bank of India (SBI) against the NCLAT order.
NCLAT had allowed the cash-strapped Jet Airways’ ownership transfer to the Successful Resolution Applicant (SRA) without complete payment following the resolution plan. The case is related to the ownership of Jet Airways between JKC and a number of the airline’s lenders led by the State Bank of India.
The lenders had moved to the Supreme Court challenging the March 12 NCLAT order upholding the transfer of ownership of the airline to JKC, a consortium led by UAE-based entrepreneur Murari Lal Jalan and UK-based Kalrock Capital.
Jet Airways was grounded in 2019 due to severe financial troubles.

New Delhi, July 12,2024: Essar Energy Transition (EET) on Friday announced the launch of EET Hydrogen Power calling it Europe’s first hydrogen-ready combined heat and power plant.
Based at the EET Fuels’ Stanlow refinery, EET Hydrogen Power will be operating by 2027.
“EET Hydrogen Power will be developed over two phases to reach a capacity of 125 MW of power with 6,000 tonnes per day of steam, with the hydrogen replacing hydrocarbons delivering a reduction of 740,000 tonnes of carbon dioxide per annum,” the company said in a media release.
It further said that the new plant will replace Stanlow’s existing boiler units, which currently generate approximately 50MW of power for the refinery operations.
EET Hydrogen Power is a key infrastructure project, supporting the decarbonisation plans of the wider HyNet industrial cluster as well as forming a blueprint for future industrial and power decarbonisation.
“Launching EET Hydrogen Power shows the progress that Essar Energy Transition is making in delivering against its commitment to put the UK at the forefront of low carbon energy,” said Tony Fountain, Managing Partner of Essar Energy Transition.
Added Rob Wallace, Chief Executive Officer of EET Hydrogen Power, “We have bold ambitions for Stanlow to become a low carbon transition hub at the centre of the HyNet Industrial Cluster. EET Hydrogen Power will be Europe’s first 100% hydrogen-ready gas-turbine plant which will be supplied with EET Hydrogen’s low carbon hydrogen.”

July 17,2024: Elon Musk has said he will move SpaceX and X out of California over a law that bans schools from forcing teachers to notify parents when their child changes their gender identity.

Musk said on Tuesday that he would relocate the companies’ headquarters to Texas after California Governor Gavin Newsom signed the first-of-its-kind law barring policies that require educators to disclose when a student asks to use a different name or pronouns.

“This is the final straw,” Musk said on X. “Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas.”

Musk, who has an adult transgender daughter, added that he had previously told Newsom “that laws of this nature would force families and companies to leave California to protect their children”.
Musk said in a follow-up post that he would also relocate X, formerly Twitter, from San Francisco to Austin, saying he had “had enough of dodging gangs of violent drug addicts just to get in and out of the building”.

Musk, the world’s richest man, has in recent years gravitated towards Texas, which has no state corporate or income tax and is known for its conservative politics.

New Delhi, June 20,2024: In a move that would give boost to wind energy, the Government on Wednesday approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs 7,453 crore.

This includes an outlay of Rs 6,853 crore for installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and grant of Rs 600 crore for upgradation of two ports to meet logistics requirements for offshore wind energy projects, an official statement after Union Cabinet meeting chaired by Prime Minister Narendra Modi said.

The VGF scheme is a major step towards implementation of the National Offshore Wind Energy Policy notified in 2015 with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India.

The VGF support from the Government will reduce the cost of power from offshore wind projects and make them viable for purchase by DISCOMs. While the projects will be established by private developers selected though a transparent bidding process, the power excavation infrastructure, including the offshore substations, will be constructed by Power Grid Corporation of India Ltd (PGCIL).

Ministry of New and Renewable Energy, as the nodal ministry, will coordinate with various Ministries/Departments to ensure successful implementation of the scheme.

Construction of offshore wind energy projects and its operations also require specific port infrastructure, which can handle storage and movement of heavy and large dimension equipment. Under the scheme, two ports in the country will be supported by Ministry of Ports, Shipping and Waterways to meet the requirements of offshore wind development.

Offshore wind is a source of renewable energy which offers several advantages over onshore wind and solar projects, such as higher adequacy and reliability, lower storage requirement and higher employment potential.

Development of offshore wind sector will lead to economy-wide benefits by attracting investments, development of indigenous manufacturing capabilities, creation of employment opportunities across the value chain and technology development for offshore wind in the country. This will also contribute towards achieving India’s energy transition targets.

The successful commissioning of 1 GW offshore wind projects will produce renewable electricity of about 3.72 billion units annually, which will result in annual reduction of 2.98 million ton of CO2 equivalent emission for a period of 25 years.

Further, this scheme will not only kick start the offshore wind energy development in India but also lead to creation of required ecosystem in the country to supplement its ocean based economic activities. This ecosystem will support the development of initial 37 GW of offshore wind energy at an investment of about Rs 4,50,000 crore.

Chennai, Aug 31,2024: Tamil Nadu led the AI race in India, with Chief Minister M K Stalin, on

an official visit to US to attract investments, signing a MoU with Google for setting an Artificial

Intelligence (AI) Lab in Chennai, besides meeting top executives of Apple and Microsoft

and invited them to invest in TN.

The MoU was signed at Google headquarters in California on Saturday.

The AI Lab would be set up jointly by Google and Guidance TN.

During the meeting with top executives of Google, the Chief Minister also discussed about

expansion of Pixel-8 smartphone production and commence manufacturing of other

products of Google in the State.

Mr Stalin said his government was determined to strengthen these partnerships and make

Tamil Nadu one of the foremost growth engines of Asia, according to an official release here.

Later in a social media post, Mr Stalin said “An awe-inspiring visit to the offices of Apple,

Google and Microsoft.”

“Discussed various opportunities and exciting partnerships. Determined to strengthen these

partnerships and make Tamil Nadu one of the foremost growth engines of Asia!’, he added.

Tamil Nadu Industries Minister TRB Rajaa, who is also part of the delegation that accompanied

the Chief Minister, in a social media post said “On our visit to the Google HQ today, we’ve signed

an MoU to set up the Tamil Nadu AI Labs at GuidanceTN in Chennai in partnership with Google!”

“Say hello to what I would like to call ‘Chennai.ai”, he said.

Thiruvananthapuram, July 12,2024: Adani group flagship Adani Ports and SEZ on Friday announced arrival of first ship at its Vizhinjam port, marking India’s entry into the global transshipment and positioning the port as a critical player in the international trade routes.
Vizhinjam International Seaport in Kerala is a critical economic infrastructure project promoted by the Government of Kerala in a Public Private Partnership (PPP) mode. It is the largest private sector investment in Kerala.
After winning the bid, Adani Ports and Logistics formed a Special Purpose Vehicle (SPV), Adani Vizhinjam Port Private Limited (AVPPL), to develop the project. AVPPL entered into a concession agreement with the Department of Ports, Government of Kerala, on 17 August 2015 for the development and operation of Vizhinjam International Seaport. Overcoming multiple challenges, the port is now in the advanced stages of compeletion.
This marks the debut of India’s first automated port with state-of-the-art infrastructure and facilities, capable of handling large ships, with its modern container handling equipment and world-class automation and IT systems, the company said in a statement.
San Fernando, the 300-meter-long container vessel operated by Maersk with a capacity of 8,000-9,000 TEUs (twenty-foot equivalent units), will be availing the services at the port to offload about 2,000 containers and for 400 container movements within the vessel.
Highlighting Vizhinjam’s significance, Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ) said, San Fernando – now berthed at our harbour is a symbol of a new, glorious achievement in Indian maritime history. It is a messenger that will tell the world that India’s first transshipment terminal and the largest deepwater port has begun commercial operations.
Talking about the port’s state-of-art infrastructure he added, “No other port in India – including our own highly advanced Mundra Port – has these technologies. What we have already installed here is South Asia’s most advanced container handling technology. And once we complete the automation and the Vessel Traffic Management System, Vizhinjam will be in a class of its own as one of the most technologically sophisticated transshipment ports in the world.”
Currently, 25 per cent of India’s container traffic is transshipped en-route to the destination. Until now, despite India’s rising trade with the world, the country did not have a dedicated transshipment port, resulting in three-fourths or 75 per cent of India’s transshipped cargo being handled by ports outside India.
Vizhinjam, will not only facilitate the movement of transshipment traffic into India but the strategically located port will also play a pivotal role in handling traffic along major routes connecting India, such as traffic between the US, Europe Africa, and the Indian subcontinent as well as US, Europe, Africa and the Far East, and thus playing a critical role in the international trade routes.

December 10, 2024: The Centre on Monday announced the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India, a day before incumbent Governor Shaktikanta Das’s six-year term comes to an end on Tuesday (December 10, 2024).
A 1990-batch officer of the Indian Administrative Service of the Rajasthan cadre, Mr. Malhotra is a computer science engineering graduate from the Indian Institute of Technology, Kanpur, and has a Master’s degree in Public Policy from the Princeton University, U.S.A, and will take charge of the country’s monetary policy framework and banking regulation at Mint Street on December 11.

Rome [Italy], July 29,2024: Italian Prime Minister Giorgia Meloni, who is on an official visit to Beijing, announced she was signing a three-year action plan to revive cooperation with China.
Italy had last year pulled out of China’s Belt and Road Initiative (BRI), having been the only G7 country to sign up in 2019 to the infrastructure and transportation plan that seeks to build a sort of modern-day Silk Road.
The ANSA news agency reported that Meloni made the announcement at the start of a meeting with Chinese Prime Minister Li Qiang in Beijing on July 28.
The Beijing visit marks the first official visit of Meloni since she became PM in 2022.
Chinese ambassador to Italy, Jia Guide said that on Sunday, Meloni addressed the 7th China Italy Business Forum in Beijing where she also attended the signing ceremony for agreements together with Chinese Premier Li Qiang.
Both countries signed a three-year plan to strengthen collaboration in areas including trade, investment, education, environmental protection and food security.” Qiang said in a statement on X
Meloni said that six agreements had been signed in fields ranging from industry to food safety and education.

The Memorandum of Industrial Cooperation signed between the two counties was described by Meloni as “a significant step”. “It now includes strategic industrial sectors such as electric mobility and renewables, sectors where China has already been operating on the technological frontier for some time,” the Italian PM said.
China has been in trade conflict with the United States and European Union (EU) over electric vehicles (EV), renewable energy goods among others.

Italy has a big trade deficit with China and there is also an imbalance when it comes to investments. “Chinese investment in Italy is about a third of the level of Italian investments in China,” Meloni was quoted by the Italian news agency.
“It’s a gap that I’d like to see narrowed in the right way”, she said.
On December 6, 2023, the Italian government formally announced that it will not renew the 2019 memorandum of understanding (MOU) regarding its formal participation in Chinese President Xi Jinping’s flagship Belt and Road Initiative (BRI). The initiative was announced a decade ago
According to a report in the Voice of America, Italian President Sergio Mattarella plans to visit China this October, and the US media outlet analysts say the trips show that Rome hopes to repair relations damaged when Italy became the first country to pull out of the BRI since it was launched in 2013.
As per the VOA report, Italy is China’s fourth-largest trading partner in the European Union, and China is Italy’s largest trading partner in Asia, with bilateral trade at USD 80 billion, mostly Chinese exports to Italy.
Italian data show exports to China reached nearly USD 18 billion in 2022 from USD 14 billion in 2019, while Chinese exports to Italy nearly doubled during that same period from more than USD 34 billion to more than USD 62 billion.

New Delhi, December 9,2024: Air India on Monday confirmed that it placed an order to purchase 100 more Airbus aircraft, comprising 10 widebody A350 and 90 narrowbody A320 Family aircraft, including A321neo.
These 100 new aircraft are in addition to the firm orders of 470 aircraft that Air India had placed with Airbus and Boeing last year.
The latest order takes the total number of aircraft that Air India ordered with Airbus in 2023 from 250 aircraft, comprising 40 A350 and 210 A320 Family aircraft, to 350.
Air India also announced it has selected Airbus’ Flight Hour Services-Component (FHS-C) to support the maintenance requirements of its growing A350 fleet.
The new materials and maintenance contract will help Air India to optimise the reliability and performance of its A350 fleet, with comprehensive engineering services and integrated component services including on-site stock at Delhi provided by Airbus.
Natarajan Chandrasekaran, Chairman, of Tata Sons and Air India, said, “With India’s passenger growth outpacing the rest of the world, its significantly improving infrastructure and an aspirational young population increasingly going global, we see a clear case for Air India to expand its future fleet beyond the firm orders of the 470 aircraft placed last year.”
“These additional 100 Airbus aircraft will help to position Air India on the path to greater growth and contribute to our mission of building Air India into a world-class airline that connects India to every corner of the world,” he added.
Guillaume Faury, Airbus CEO, said, “Having personally witnessed the formidable growth of the Indian aviation sector in recent months, I am glad to see Air India renew its trust in Airbus with this additional order for both our A320 Family and A350 aircraft.”
“Through this continued partnership, we are committed to supporting the success of Air India’s “Vihaan.AI” transformation plan under Tata’s vision and leadership,” the CEO added.
With the order for 100 additional aircraft, Air India currently has a total of 344 new aircraft incoming from Airbus, having received six A350s so far. Air India in 2023 had also placed orders for 220 widebody and narrowbody aircraft with Boeing, of which 185 aircraft remain to be delivered.
Air India is the first Indian airline to operate the Airbus A350, powered by Rolls-Royce Trent XWB engines. Delivering exceptional fuel-efficiency, passenger comfort, and long-range capabilities, the A350s now offer an all-new Air India flying experience to travellers flying non-stop from Delhi to London and New York.
The A320 Family fleet, powered by CFM LEAP 1-A engines, is a backbone of Air India’s domestic and short-haul operations, delivering world-class flying experiences to millions of the airline’s customers as well as remarkable operational efficiency and flight economics.