India's ambitious $12.5 billion Great Nicobar Island Project, championed by PM Modi, aims to counter China's regional influence with a new port and airport. However, concerns are mounting over its impact on the indigenous Shompen people and endangered species.
The Reserve Bank of India's record ₹2.87 lakh crore dividend transfer provides crucial fiscal support to the Indian government, aiding spending on infrastructure, subsidies, and welfare programs amidst global economic turbulence and rising costs.
India's housing ministry has ordered the exclusive Delhi Gymkhana Club to vacate its New Delhi premises by June 5, citing urgent public interest and security needs. The move aligns with PM Modi's broader agenda against entrenched elite institutions and colonial-era relics.
The US Department of Justice has dropped fraud charges against Indian billionaire Gautam Adani after his new legal team, led by Robert J Giuffra Jr (also Donald Trump's personal lawyer), proposed a $10bn US investment creating 15,000 jobs, alongside challenging evidence and jurisdiction in an undisclosed April meeting.
The Indian government has launched a $1.5 billion Bharat Maritime Insurance Pool, backed by a $1.4 billion sovereign guarantee, to offer risk cover for Indian vessels on international routes, including war zones. This initiative aims to reduce shipping insurance premiums and guarantee coverage even when global insurers withdraw due to rising risks.
The Indian government has rationalised royalty rates and methodologies for crude oil, natural gas, and casing head condensate to simplify regulations and boost the upstream energy sector. This move aims to bring greater clarity, consistency, and predictability to the oil and gas regime, encouraging fresh investments in exploration and production activities.
The Indian government has assured citizens of uninterrupted fuel supplies, citing adequate reserves and fiscal measures to mitigate the impact of rising global crude prices caused by the ongoing Middle East conflict.
Offshore gaming companies with Russian and East European links have exploited the Indian GST Department's official website (cgst.ahmedabadzone.gov.in) by creating fake pages with backlinks to illegal betting platforms, falsely claiming legitimacy. The fake pages, released around April 19, feature grammatical errors and promote offshore casinos despite being banned in India. Technology lawyer Jay Sayta called it a security lapse requiring investigation, while chartered accountant Ashish Karundia highlighted that Section 14A of the IGST Act already provides legal framework to tax and block such platforms.
