Retired central government employees await the 8th Pay Commission’s impact on their pensions, with the fitment factor being a key determinant of any increase. Pensioners also seek improvements in commutation periods and medical benefits, alongside potential hikes in Dearness Relief and family pensions.
Coal India Limited experienced a nearly 10% drop in production during October, reaching 56.4 million tonnes, as operations faced a slump due to weak demand and post-monsoon issues. Coal offtake also saw a decline of 5.9%. For the April-October period, output fell 4.5% year-on-year. Sanoj Kumar Jha has taken over as interim Chairman-cum-Managing Director.
The Reserve Bank of India reported that Rs 5,817 crore worth of Rs 2,000 denomination notes are still in circulation. This figure represents a significant decrease from the Rs 3.56 lakh crore in circulation when the notes were withdrawn on May 19, 2023. The RBI confirmed that 98.37% of these notes have been returned.
India’s GST collections reached approximately Rs 1.96 lakh crore in October, a 4.6% year-on-year increase driven by strong festive demand and pent-up consumption. This growth occurred despite recent GST rate cuts, indicating robust consumer spending and effective business adaptation to the new tax structure.
Small and low-risk businesses can now obtain GST registration in just three working days starting Saturday. This simplified route, approved by the GST Council, is designed for businesses with monthly output tax liability not exceeding Rs 2.5 lakh. The finance minister emphasized smooth operationalization and a dedicated help desk for applicants.
The National Highways Authority of India has simplified the FASTag Know Your Vehicle (KYV) process, ensuring services remain active during pending verification. Motorists now only need a front vehicle photo, and the system automatically retrieves RC details via Vahan. Issuing banks will proactively assist users, and the helpline is available for support.
US Treasury Secretary Scott Bessent criticized China’s rare earth export restrictions as a “mistake” that “weaponized” the vital minerals. Beijing’s move alerted the world to the danger, prompting global backlash and a one-year suspension of certain limits following a US-China summit. Washington has prepared countermeasures against future controls.
A three-step strategy from GTRI aims to protect India’s trade interests with the US. It proposes halting Russian oil imports under sanctions, seeking the removal of punitive tariffs, and resuming negotiations on fair, balanced terms for improved export competitiveness.
Months after settling a $16 million lawsuit with CBS News, Donald Trump is set to appear on “60 Minutes” this Sunday. Norah O’Donnell conducted the interview at Mar-a-Lago, marking his first appearance since the settlement and signaling improved relations with the broadcaster.
