Tag: Lex

Catch up on the day’s must-read stories with Swarajya’s roundup of the morning’s headlines.

Tax Breaks For Individuals In Budget 2025: Report

Finance Minister Nirmala Sitharaman is expected to propose income tax breaks for individuals in the budget for FY26 to boost household spending and economic growth, Mint has reported. Discussions are ongoing to increase the standard deduction for individuals, which was last revised to Rs 75,000 in the July 2024 budget. The government is also considering raising the basic tax exemption limit from ₹3 lakh and revising the tax structure for incomes between Rs 12-15 lakh. This could involve reworking the 20 per cent tax slab for those in this income range and adjusting lower slabs accordingly. The final details of these changes are still being discussed, the report adds.

PM Modi To Appear On Lex Fridman’s Podcast

Popular American podcaster Lex Fridman has announced that the Prime Minister of India, Narendra Modi, will be featured on an upcoming episode of his podcast. Known for his in-depth, long-form interviews, Fridman has hosted influential figures like Donald Trump, Elon Musk, and Joe Rogan. The episode with Modi is expected to cover topics such as technology, geopolitics, and India’s expanding role in the global economy. This marks a significant moment, as it will be Modi’s first appearance on a major Western podcast. Fridman shared the news on social media, expressing his honor at hosting Modi for a conversation that transcends borders and ideas.

Hindenburg Founder Accused Of Securities Fraud

Hindenburg Research founder Nate Anderson, who recently announced the firm’s closure, may face securities fraud charges, according to PTI. Court documents filed in Ontario reportedly reveal that Anderson collaborated with Moez Kassam, head of Canada’s Anson hedge fund, in preparing bearish reports. The Market Frauds portal cited in the report alleged that Hindenburg colluded with Anson without disclosing the hedge fund’s involvement, which could attract SEC scrutiny. The documents suggest that preparing such reports without disclosure could be deemed securities fraud. Hindenburg had previously drawn attention in India for its controversial and now discredited reports targeting Gautam Adani’s business empire.

Other Developments

Weak Demand Slows Private Sector Investments In Q3

India’s private sector investment plans declined by 1.4 per cent in the October-December 2024 quarter due to weakening domestic demand, rising inflation, and higher input costs, following a brief recovery in the second quarter. However, government capital expenditure (capex) grew sharply, boosting overall fresh investments by 9.9 per cent to Rs 11.46 lakh crore in Q3, up from Rs 10.43 lakh crore in Q2.

This growth was primarily driven by a 34.6 per cent increase in investments by state governments, compared to an 11.8 per cent rise in Union government outlays. Foreign investments also saw a significant 44.2 per cent increase, largely due to a Rs 70,000 crore steel project announced by Arcelor Mittal Nippon.

China’s Confirms Testing Of Hypersonic Air-To-Air Missile

Chinese scientists have confirmed the existence of hypersonic air-to-air missiles after conducting extreme heat-resistance testing to meet the PLA Air Force’s rigorous performance standards. This confirmation highlights the potential threat these missiles could pose to U.S. military aircraft, including the B-21 stealth bomber. The testing, which involved full-scale missile prototypes, was conducted in an arc-heated wind tunnel and was detailed in a peer-reviewed paper published last month in the journal Equipment Environmental Engineering. The arc-heated wind tunnel can generate hot air flows reaching thousands of degrees Celsius, with the ability to operate continuously for over an hour.

Hamas Frees Some Hostages On Day 1 Of Ceasefire

Terror outfit Hamas, after stalling on the ceasefire implementation, finally freed three Israeli hostages on Sunday (19 January), while Israel released 90 Palestinian prisoners. The ceasefire paused the 15-month-old war in Gaza, allowing over 630 trucks of humanitarian aid to enter, with at least 300 going to the hard-hit northern areas. The released hostages, Romi Gonen, Doron Steinbrecher, and Emily Damari, were reunited with their families after 471 days. The ceasefire deal, however, faced a three-hour delay due to Hamas failing to provide a list of hostages on time. During the delay, Israeli airstrikes killed 13 people in Gaza, according to Palestinian health authorities.

Nearly 4,000 Gangetic Dolphins In Ganga Basin, Survey Finds

An estimated 3,936 Gangetic dolphins inhabit the Ganga River basin, with 2,510 sighted during a survey, according to an assessment by the Wildlife Institute of India (WII) and the National Mission for Clean Ganga (NMCG). The endangered species’ population was estimated with a standard error of 763. The data was submitted in an affidavit by the WII after the National Green Tribunal (NGT) sought updates on the implementation of Project Dolphin. The assessment, part of the National Mission for Clean Ganga project running since 2016, aims to develop a conservation strategy for the dolphins.

MSP Guarantee Not On Cards As Centre Holds Talks With Farmers

The Centre’s upcoming talks with farmer groups may not focus on providing a legal guarantee for Minimum Support Price (MSP), a key demand of the protesting farmers. Instead, the discussions will focus on strengthening the procurement system to benefit as many farmers as possible across the country. An inter-ministerial team will also attempt to bring various farmer groups together to discuss the advantages and disadvantages of the newly proposed national agriculture marketing framework. The draft framework aims to create a “unified national market for agricultural produce” by involving all states, though protesting farmers have rejected the proposal.

TikTok Restores Services After Trump’s Support

TikTok began restoring its services on Sunday after President-elect Donald Trump announced plans to restore the app’s access in the US following his return to power. At a rally, Trump stated, “We have no choice. We have to save it,” emphasizing that the U.S. would seek a joint venture to bring back the app, which is used by 170 million Americans. TikTok confirmed the restoration of its services in a message to users, crediting Trump’s efforts. While some users regained access to the website and basic app services, the app remained unavailable for download in U.S. app stores as of Sunday evening.

From The States

Rahul Gandhi’s Meeting With Lalu Eases INDIA Alliance Tensions

Rahul Gandhi’s meeting with RJD leaders Lalu Prasad and Tejashwi Yadav in Patna on Saturday signaled a thaw in the strained ties between Congress and RJD ahead of the 2025 Bihar Assembly elections. Tensions between the two parties had escalated, particularly after Lalu backed Mamata Banerjee for the leadership of the INDIA alliance. The Congress-RJD rift had also been fueled by disagreements over seat-sharing for the upcoming polls. Tejashwi reached out to Rahul during his visit to Patna, where both leaders met after the RJD’s national executive meeting.

This development came amidst growing support for AAP from regional parties in the alliance, while Congress remained reluctant to accommodate AAP, aiming to strengthen its position in the battle against the BJP.

Bengal: Court To Announce Sentence RG Kar Rape-Murder Case

A Kolkata court will decide on the punishment for Sanjay Roy on Monday (20 January) after he was convicted of raping and murdering a doctor at R G Kar Medical College and Hospital last year. The conviction carries a minimum sentence of life imprisonment and a maximum of the death penalty. Roy, a former police volunteer, was found guilty of the crime, which sparked nationwide protests. Meanwhile, reports say the victim’s parents have accused the Central Bureau of Investigation of mishandling the investigation, claiming that other individuals should have been arrested and convicted.

Follow along for more updates throughout the day.