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Weekly News Platter |
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4 Jul, 2026, 06:10PM IST, PTI |
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Hello Reader,
In case you had a busy week, these are the top stories you need to get caught up to speed...
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 Modi in Indonesia: India forming a strategic BrahMos belt |
| India's potential BrahMos missile deal with Indonesia could forge a significant coastal defence network across Southeast Asia. This growing 'BrahMos belt,' already including the Philippines and Vietnam, offers regional powers a potent deterrent against China's maritime assertiveness. As US security assurances waver, these missile deployments provide a crucial, independent defence option, reshaping the military balance in the vital South China Sea. Read more |
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 OMCs lost Rs 18.9/litre on diesel, ₹6 on petrol in Q1 |
| State-run oil companies faced significant losses in the April-June quarter, losing ₹18.9 per litre on diesel and ₹6 on petrol. This downturn occurred as domestic fuel prices failed to keep pace with rising international rates. Previously, these companies enjoyed healthy profits, but fluctuating global prices and limited domestic revisions have led to volatile retail margins, impacting profitability. Read more |
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 India has got a $5 trillion sleeping giant: Can govt wake it up? |
| India holds an estimated $5 trillion worth of gold in households and temples, yet continues to spend billions importing more every year. As pressure on the rupee and trade deficit mounts, the government is considering reviving the Gold Monetisation Scheme by involving jewellers to unlock idle gold and turn dormant household wealth into productive economic capital. Read more |
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 Which Indian city tops the income charts? |
| Bengaluru, Chandigarh, and Delhi boast the highest average incomes, while Chandigarh, Thiruvananthapuram, and Vadodara lead in household spending. India's top six cities dominate consumption, with Delhi NCR alone representing a massive economic hub. The report highlights a significant expansion of the middle-income bracket and a projected decline in low-income households within major urban centers. Read more |
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 PM Modi launches Modified UDAN scheme; inaugurates terminal building of Jodhpur Airport |
| Prime Minister Narendra Modi has launched the revamped UDAN scheme with a Rs 28,840 crore investment over a decade. This initiative aims to boost regional air connectivity by developing 100 aerodromes, supporting airport operations, and providing viability gap funding. The plan also includes building 200 helipads and procuring indigenous aircraft, alongside the inauguration of a new terminal at Jodhpur Airport. Read more |
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 DAC clears Rs 52,000 crore defence acquisitions, boosts drone and air defence capabilities |
| Defence Minister Rajnath Singh-led DAC greenlit defense procurements worth ₹52,000 crore, bolstering the Army, Navy, and Air Force with advanced capabilities. Key acquisitions include anti-drone systems, missiles, and unmanned warfare technology. The approvals aim to significantly enhance operational readiness against modern aerial and mechanized threats, ensuring a stronger defense posture for India. Read more |
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 Australia keeps 2027 international student cap unchanged at 295,000 |
| Australia will maintain its international student cap at 295,000 for 2027, offering sector stability. However, student and temporary graduate visa fees are set to rise by 25%, though concessions will apply to students from Pacific nations, Timor-Leste, and ASEAN countries. Regional universities will retain enhanced allocations, ensuring continued support for international education's sustainable growth and national interest. Read more |
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 New EPFO rules mandate 3-day PF settlements, simplify withdrawals |
| Government revamps EPFO rules, mandating PF claim settlements within three days and imposing a 12% penal interest on officials for delays. Employees can now withdraw 75% of their PF balance immediately upon job loss. Withdrawal categories are simplified to three: illness, education, and marriage, with reduced service requirements. Read more |
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 Akasa Air receives 40th aircraft, expands fleet with Boeing 737 MAX 8-200 |
| Akasa Air has welcomed its 40th aircraft, a Boeing 737 MAX 8-200, marking a significant step in its fleet expansion. This latest delivery is part of the airline's ambitious plan to induct nine new Boeing 737 MAX jets in 2026. Founder and CEO Vinay Dube expressed immense excitement about this milestone, as Akasa Air continues to grow its network, now serving 28 domestic and seven international routes. Read more |
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 Father can't relinquish daughter’s share in ancestral property to son; Know the legal position |
| A father cannot legally sign away his daughter's rightful share in ancestral property to his son, the Andhra Pradesh High Court has ruled. Under Mitakshara Hindu law, daughters hold an independent interest in coparcenary property, which a father cannot relinquish. This ruling clarifies that such deeds only affect the father's personal share, not other co-sharers' rights. Self-acquired property, however, remains at the owner's disposal. Read more |
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 China's warning reveals what really happened at Modi-Takaichi summit |
| India and Japan's recent summit in Delhi has sparked concern in Beijing. Agreements on defense, critical minerals, and AI signal a strategic shift, prompting China to caution against "exclusive small groupings." The summit's focus on economic security, diversified supply chains, and defense co-development, particularly the UNICORN project, directly challenges China's economic and strategic leverage. This collaboration, alongside renewed Quad support, signals a growing regional architecture aimed at balancing China's influence. Read more |
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 India aims for $1 trillion exports this fiscal year, says Piyush Goyal |
| India is targeting a monumental $1 trillion in exports this fiscal year, a significant leap from last year's $863 billion. Union Minister Piyush Goyal revealed the ambitious plan, which requires merchandise exports to surge by 17% to approximately $530 billion, while services exports are projected to grow by 11% to nearly $470 billion. This strategic push aims to bolster the nation's economic standing on the global stage. Read more |
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 Gulf carriers eye Boeing, Airbus jets as Air India weighs delays |
| Gulf airlines like Etihad and Saudia are reportedly eyeing earlier aircraft delivery slots, potentially from Air India's deferred orders. This comes as major planemakers Boeing and Airbus have extensive backlogs, making near-term deliveries highly sought after for fleet modernization. While Air India states its plans are on track, these discussions highlight the competitive scramble for new aircraft. Read more |
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 Assam produces Matcha tea for first time, fetches Rs 3,000 per kg at auction |
| Assam has officially entered the premium Matcha tea market, with the state's first commercially produced batch fetching an impressive Rs 3000 per kg at auction. This significant development, spearheaded by the Chota Tingrai Tea Estate, marks India's debut in this high-value segment. Chief Minister Himanta Biswa Sarma highlighted the move as a boost to Assam's tea legacy and global brand, underscoring strong India-Japan ties. Read more |
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 Delhi government clears Rs 8,300-crore for 7-year programme to combat air pollution |
| In a bid to improve air quality, the Delhi government has introduced an ambitious seven-year project worth Rs 8,300 crore, primarily funded by the World Bank at 65%. The 'Clean Air, Healthy Delhi' program aims to significantly improve air quality and cut emissions from various sources. A coordination workshop is scheduled for July 10 to prepare stakeholders for this pivotal effort. Read more |
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 PM Modi to make first official visit to New Zealand next week |
| New Zealand is set to welcome Indian Prime Minister Narendra Modi for his first official visit next week, a historic occasion marking the first by an Indian premier in four decades. This visit follows a significant free trade agreement signed in April, which will remove 95% of tariffs on New Zealand goods. Prime Minister Modi is scheduled to arrive in Auckland on July 10th. Read more |
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 Congress hints at equal seat-sharing with Samajwadi Party in 2027 UP assembly polls |
| Uttar Pradesh Congress in-charge Rajendra Pal Gautam signaled an equal seat-sharing with the Samajwadi Party for the 2027 assembly polls, emphasizing "equality and respect." He highlighted the INDIA bloc's success in the Lok Sabha elections, attributing it to the Congress's national stature and Rahul Gandhi's leadership. Gautam also criticized the BJP government on issues like paper leaks, job creation, and alleged targeting of the poor and minorities. Read more |
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 World Cup fails to score for TV makers |
| India's television market experienced stagnant sales during the FIFA World Cup, defying traditional expectations of a 15-25% surge. Rising prices due to memory chip costs, inconvenient match timings, and a shift to smartphone streaming have dampened demand. Read more |
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