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News Highlights provides you with the best compilation of the Daily News Highlights taking place across the globe: National, International, Sports, Science and Technology, Banking, Economy, Agreement, Appointments, Ranks, and Report and General Studies
1.
Amid pressure to attract foreign funds and also stabilise the rupee, the Centre on Friday scrapped the capital gains tax, both long-term and short-term, on investment by Foreign Institutional Investors (FIIs) in government bonds as well as the withholding tax they must pay on their interest income from these debt instruments. At present, FIIs pay 12.5% tax on long-term capital gains, 30% on short-term capital gains, and around 20% withholding tax on interest income.
2.
RBI Governor Sanjay Malhotra said Friday that banks are permitted to provide differential interest rates on deposits in certain cases like senior citizens, but the central bank has very clear policies and conditions for such instances. He said banks must be transparent by clearly displaying rates to everyone, and offering undisclosed preferential rates is "certainly not acceptable".
3.
India on Friday lodged a strong protest with Pakistan regarding the latter's plans to hold "general elections" on June 7, 2026, for the "Gilgit-Baltistan Assembly", in the Indian territories illegally and forcibly occupied by Pakistan.
4.
Nepal's Foreign Minister Shisir Khanal arrived in India Friday for a three-day official visit. This is the first visit by a minister from Nepal's new government led by Prime Minister Balendra Shah.
5.
The India-UK Free Trade Agreement (FTA) is a "historic moment" for both nations that provides the commercial impetus for co-creation in the arena of mediation and arbitration, Chief Justice of India (CJI) Surya Kant said in London on Friday. Delivering the inaugural address at the Indian Council of Arbitration's (ICA) international conference on 'Alternative Dispute Resolution (ADR) as a Catalyst for Strengthening India-UK Economic Partnership', CJI Kant called for ensuring a level playing field and procedures proportionate to the value and urgency of disputes.
6.
Tamil Nadu's Nilgiri Tahr population has recorded a steady rise with the third synchronised population estimation conducted in April 2026, putting the count at an estimated 1,364 individuals, showing a 4.68 per cent increase over last year. The ungulates, or hoofed animals are an endangered species found exclusively in the Southern Western Ghats.
7.
At a time when there is a conversation around rising divorce rates and changing family structures, fresh demographic data suggests a different reality. The proportion of Indians who are widowed, divorced or separated has declined over the past decade, even as a handful of southern states have moved in the opposite direction. According to the Sample Registration System Statistical Report 2024, 3.5 per cent of India's population is currently classified as widowed, divorced or separated (W/D/S), down from 4.1 per cent in 2014.
8.
Assuming an average crude oil price of $95 per barrel in FY2027, ICRA projects GDP growth at 6.2 per cent. We expect GDP growth to slump to sub-6 per cent in the first half, before recovering in the second half of the year.
9.
The June meeting of the RBI's Monetary Policy Committee was held against a challenging economic backdrop. Inflationary pressures have been building up, capital has been flowing out, the rupee is under pressure, and the underlying growth momentum remains unpredictable. The MPC, however, despite suggestions to the contrary, chose to keep interest rates unchanged at 5.25 per cent — rightly so — and also continued with the neutral stance. The continuing uncertainty over the conflict in West Asia and its spillover effects on growth and inflation call for a wait-and-watch approach.
10.
The real signal was in the Court's willingness to suspend disbelief. The SIR faced a fatal legal flaw, as it did not follow any of the established procedures laid down by the law, the rules and the ECI's own Manual on Electoral Rolls.
11.
The Reserve Bank of India (RBI) on Friday cut its GDP (gross domestic product) growth forecast for the current financial year to 6.6% from 6.9%, and raised the inflation projeсtion to 5.1% from 4.6%, cautioning that elevated energy prices and global supply constraints were having "adverse spillovers" on economic activity.
12.
Macro stability and supply measures can bring back India on a 7% growth trajectory in FY28, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Friday, asserting that the growth is contingent on improvement in external conditions.
13.
A day after India and US trade officials concluded negotiations, Commerce Minister Piyush Goyal on Friday said that India and the US will sign the "first tranche" of the bilateral trade deal by mid-July. The US has already proposed new Section 301 tariffs on 60 countries, which are expected to come into effect after July 7. Washington has set 12.5% tariffs on 54 countries, including India, China and 10% on 6 countries, such as Pakistan and the European Union.
14.
Finance Minister Nirmala Sitharaman on Friday said the government is committed to further drive the 'Reform Express' with decisive policy measures to ensure positive economic momentum amid global challenges. Earlier in the day, the Reserve Bank lowered its GDP forecast for FY27 to 6.6% from the 6.9% estimated in April, citing elevated energy and other commodity prices, as well as continued supply disruptions arising from the West Asia conflict, which are likely to weigh on economic activity.
15.
China said Friday President Xi Jinping would visit North Korea on a two-day trip from June 8, his first in nearly seven years as Beijing looks to reassert ties with Pyongyang, its only formal treaty ally. Xi will meet North Korean leader Kim Jong Un, China's foreign ministry said.
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