The Centre has increased financial thresholds for scientific equipment procurement by research institutions, as per revised General Financial Rules. Vice-chancellors and directors can now directly procure instruments up to Rs 2 lakh, while purchase committees can approve up to Rs 25 lakh. Senior authorities can also approve global tenders up to Rs 200 crore, streamlining processes and fostering innovation.
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Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. But in early 2025, OPEC+ members decided on the gradual output increase and subsequently began to accelerate the pace.
A recent US Commerce Department report indicates a slowdown in inflation, with consumer prices rising just 2.1% in April. This decline occurs amidst concerns that former President Trump's tariffs could drive prices higher.
WTO chief Ngozi Okonjo-Iweala acknowledged disruptions to the multilateral trading system and urged India to support China-backed investment facilitation, despite India's opposition. She emphasized India's leadership role for the upcoming MC14, particularly in agriculture, while highlighting the need to address India's concerns in that sector. Reform discussions are anticipated at the mini-ministerial meeting.
Foreign Portfolio Investors (FPIs) initially withdrew Rs 8,749 crore from Indian equities in early June amid global uncertainty. However, a significant shift occurred after the RBI's unexpected 50 basis points rate cut, boosting investor confidence.
The RBI maintains its cautious stance on cryptocurrency, citing potential risks to financial stability and monetary policy, despite the Supreme Court's view against a ban. A government committee is currently reviewing the matter. The RBI has also introduced a new regulation-making framework emphasizing public consultation, impact analysis, and regular reviews to adapt to evolving conditions.
India anticipates a significant surge in the demand for AI professionals, projecting a need for one million skilled workers by 2026. Engineering education is adapting through cross-disciplinary approaches and industry integration to meet this demand. The number of B.Tech seats has increased, particularly in Computer Science and AI-related fields, reflecting the industry's strong need for AI talent.
Maruti Suzuki India announced a record-breaking achievement, transporting 5.18 lakh vehicles via Indian Railways in FY 2024-25. Since FY 2014-15, cumulative railway dispatches have reached 24 lakh vehicles, servicing over 600 cities through 20-plus railway hubs. By FY 2030-31, the company aims to increase vehicle dispatches via railways to 35 percent, reducing carbon emissions and conserving fuel.
Maruti Suzuki reports that its production remains unaffected by China's rare earth magnet export restrictions, crucial for vehicle components. The company has applied for import permits and is engaging with the government to understand the new regulations' impact.
Aadhaar cardholders can update their identity and address documents online for free until June 14, 2025, as announced by UIDAI. After this date, updates will require a visit to an Aadhaar Enrolment Centre with a fee of Rs 50. Updating PoI and PoA documents every 10 years ensures accurate records and avoids potential service disruptions.
The RBI's Monetary Policy Committee convened amidst expectations of a policy rate cut to bolster economic growth, influenced by global uncertainties. Analysts anticipate a 25-50 bps reduction in the repo rate, currently at 6%, following previous cuts. Experts believe easing rates will stimulate consumer spending, investment, and credit flow to MSMEs.