The Karnataka High Court has halted the Lokayukta investigation into the alleged MUDA scam, a crucial anti-corruption institution in India. Established in the 1960s, they prosecute public-sector corruption and are appointed by the state governor. Lokayuktas hold office for 5 years or until 65 years old, investigating administrative actions, grievances, and maladministration allegations.
The Indian rupee's value against the US dollar has surpassed 85 due to factors like currency market demand and supply dynamics. Imports increase demand for US dollars, while foreign investors withdraw money due to inflation or better returns. Political factors like tariffs and trade restrictions also impact currency demand.
The Ministry of Road Transport and Highways is implementing Automated & Intelligent Machine-aided Construction (AIMC) to address delays in national highway projects. AIMC combines smart machines and real-time data sharing, ensuring construction stays on schedule and meets quality standards. It uses GPS-Aided Motor Graders, Intelligent Compaction Rollers, and Single Drum/Tandem Vibratory Rollers.
The GoM is proposing to decrease GST rates on essential items and increase taxes on luxury goods, particularly tobacco products, to address the public health crisis in India, which is causing health issues and increasing healthcare costs. High tobacco taxation could reduce consumption and generate revenue for public welfare programs.
India's FDI reached $42.1 billion in the first half of the fiscal year, boosted by a proactive policy framework, dynamic business environment, and increased international competitiveness. The top five sources of FDI for FY 2023-24 are Mauritius, Singapore, USA, Netherlands, and Japan. India's ranking in the World Competitive Index 2024 has risen to 40th.
The Reserve Bank of India (RBI) reports that Indian state governments have made progress in fiscal consolidation, keeping their gross fiscal deficit below 3% of GDP for three years in a row and their revenue deficit at 0.2%. The Delhi government's welfare services have increased budget expenditure and a lower debt-to-GDP ratio.
The opinion trading industry in India, with 5 crore users and significant investment, has been unreviewed due to lack of clear regulations and ambiguities in Information Technology Rules. Critics argue opinion trading is a form of betting without significant skill and platforms avoid stock market-related questions to avoid scrutiny.