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On the macro front and ahead of the Union Budget, Prime Minister Modi sat down with economists and NITI Aayog officials for a closed-door meeting. This comes after India’s GDP growth for Q2 hit a 21-month low.
From corporates, Dabur has taken Patanjali to court, claiming that an ad featuring Baba Ramdev wrongly says Patanjali’s Chyawanprash is the “original” and puts down other brands. The Delhi High Court has agreed to hear the case but hasn’t stopped the ad from airing yet.
In other news, India’s telecom regulator, TRAI, promises to roll out new guidelines within a month to curb pesky calls. They’ve also said that telecom providers must offer at least one plan that only covers calls and texts, specifically for feature phones. The Election Commission has hit back at Congress’s claims over the Maharashtra elections, saying the increase in voter turnout between 5 PM and 11:45 PM is completely normal. They’ve also filed a case over allegations of voter list manipulation.
From abroad, China is planning a record $411 billion in special treasury bonds next year as part of a fiscal stimulus to soften the blow of rising tariffs under a potential Trump administration.
Back at home, North India is experiencing a cold wave, with temperatures dropping sharply. Heavy snowfall in Manali has left around 1,000 vehicles stranded, while Sonmarg in Kashmir also saw heavy snow. The Met Department has warned of a severe cold wave ahead.
Rupee hits fresh low, drops 9 paise to end at 85.20 against US dollar
The rupee extended its decline for the sixth consecutive session, depreciating 9 paise to close at a historic low of 85.20 (provisional) against the US dollar on Tuesday. The drop was attributed to a robust dollar, higher crude oil prices, and weak domestic equity markets.
The rupee opened at 85.10 at the interbank foreign exchange and slipped further during intraday trade, touching an all-time low of 85.21 against the greenback
By the close, it had settled at 85.20, marking a 9-paise loss from its previous close. On Monday, the rupee had ended 7 paise lower at 85.11.
PM Modi meets leading economists, seeks views on sustained long term growth for 2047
Prime Minister Narendra Modi met leading economists and experts on Tuesday, December 24, 2024, to discuss how India can become a developed nation by 2047. According to sources, the discussions extended beyond the immediate budget exercise, focusing instead on a broader long-term growth vision. In his third term, Modi is keen on implementing measures that would steer India towards becoming a “Viksit Bharat” (developed nation).
The meeting centered on strengthening key sectors, including agriculture, MSMEs, and manufacturing. There were also in-depth discussions on how India can capitalise on the current geopolitical landscape to play a larger role in global value chains and create more jobs across various sectors.
Tata Group prepares for ₹15,000 crore IPO of Tata Capital in 2025
More than a year after the bumper listing of Tata Technologies, N Chandrasekaran-led diversified conglomerate Tata Group, has initiated work on the initial public offer (IPO) of the group’s flagship financial services arm Tata Capital, three persons in the know told Moneycontrol.
Tata Capital is a non-banking financial services (NBFC) firm and a subsidiary of the business group’s principal investment holding company Tata Sons.” Work has begun on the proposed initial public offer. This is to comply with RBI’s norms for ‘upper layer’ NBFCs. No final call has been taken on the quantum, but the deal is expected to be a big-bang one in excess of ₹15,000 crore,” said one of the persons above.
China to raise record $411 billion bonds in 2025, targets EVs and tariff challenges
Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy.
The plan for 2025 sovereign debt issuance would be a sharp increase from this year’s 1 trillion yuan and comes as Beijing prepares to soften the blow from an expected increase in U.S. tariffs on Chinese imports when Donald Trump returns to the White House in January.
Rules against pesky calls in a month: TRAI Chairman
Telecom Regulatory Authority of India (TRAI) has promised new guidelines against pesky calls and that they will be released in a month. Speaking to CNBC TV18 TRAI Chairman Anil Kumar Lahoti also defended the move to ask telecom service providers to offer a tariff plan without data, only for calls and text messages specifically designed for feature phones.
Dabur takes Patanjali to court over Chyawanprash ad
Dabur has accused Patanjali of making misleading claims in an advertisement featuring its founder, Baba Ramdev, Bar and Bench reported.
In the ad, Ramdev says, “Jinko Ayurved aur Vedo ka gyaan nahi, Charak, Sushrut, Dhanwantari aur Chyawanrishi ke parampara mei ‘original’ Chyawanprash kaise bana payenge?” (loosely translated to: “Those who lack knowledge of Ayurveda and Vedic traditions cannot produce the ‘original’ Chyawanprash”). Dabur contends that this statement implies that only Patanjali’s product is authentic, while other brands are inferior or fake.
No arbitrary addition or deletion in voters list in Maharashtra: EC tells Congress
The Election Commission said there were no arbitrary additions or deletions of voters in Maharashtra where assembly polls were held in November. The response came after Congress raised the issue.
The EC said it would not be correct to compare 5 pm voter turnout data with final polling data.
It also explained how an increase in the voter turnout from 5 pm to 11:45 pm was normal, being part of the process of aggregation of voter turnout and how there can be bona fide but inconsequential differences in votes polled and votes counted.
Weather Update: IMD predicts cold wave in Himachal Pradesh, Ladakh; snowfall in Himalayan Region
The India Meteorological Department (IMD) on Tuesday, December 24, predicted cold wave conditions over some parts of India, including Himachal Pradesh, Jammu and Kashmir, Ladakh, Gilgit and Punjab, among others.
In its daily bulletin, the weather department stated that the western disturbance as a cyclonic circulation over north Pakistan and its neighbourhood now lies over Jammu and Kashmir and adjoining Himachal Pradesh. Under their influence, light to moderate rainfall or snowfall is expected on December 24 at isolated places over the western Himalayan region.
Veteran filmmaker Shyam Benegal dies at 90
Shyam Benegal, the maestro who turned Indian parallel cinema into a stage for raw emotions and hard-hitting truths, died on December 23, 2024, at the age of 90. A trailblazer of the New Cinema movement, Benegal didn’t just make films—he crafted stories that made audiences think, feel, and question.
Known for blending unvarnished realism with unforgettable human drama, he redefined storytelling for an entire generation. As we bid farewell to this cinematic giant, let’s roll back the years with ten iconic gems that showcase why Shyam Benegal will forever remain the director who brought life to the screen like no other.
Here are his top 10 masterpieces that redefined Indian cinema
ISRO gears up for SpaDeX mission to demonstrate in-space docking on Dec 30
India’s ambitious SpaDeX mission, aimed at developing and demonstrating in-space docking technology, is set for launch on December 30. The mission will be carried out using the PSLV-C60 rocket from the Satish Dhawan Space Centre, Sriharikota, the Indian Space Research Organisation (ISRO) announced.
As part of the preparations, the PSLV-C60 launch vehicle was successfully integrated and moved to the First Launch Pad on December 21 for further satellite integration and final launch preparations. ISRO also shared a time-lapse video on its official X account, showing the rocket’s movement to the First Launch Pad, fully integrated up to PS4 at the PIF facility.
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