business A new paper from NCAER suggests lifting the prohibition in Bihar to fund development work. The economists, led by Ratna Sahay, found that the ban hasn't reduced crimes against women in Bihar. Ending prohibition could boost tax revenue by 14-15% while cutting enforcement costs. The report was presented at the India Policy Forum on Friday. The authors also recommend more central transfers to help with flood-control activities. 🧐
business A new NCAER paper proposes ending the prohibition in Bihar to generate necessary resources for development. Led by Ratna Sahay, the economists argued that the ban hasn't reduced crime against women and has instead fueled illegal trade. Ending the ban could boost state tax revenue by 14-15% while cutting enforcement costs. The paper also suggested more central transfers to address issues like floods and governance gaps. This move aims to finance priority areas like education, health, and addressing gender discrimination. 🧐
business President Donald Trump is attempting to remove Federal Reserve Governor Lisa Cook over mortgage fraud allegations. This move was detailed in a White House letter sent to Cook on August 5th, naming her at the Federal Reserve. The allegations stem from unproven claims that she made false statements on mortgage applications. This represents an unprecedented attack on the Federal Reserve's independence, despite a June Supreme Court ruling. Cook denies the charges, stating the attempt is politically motivated and she must respond by August 26th.
NASA astronauts Anil Menon and Jessica Meir finished a spacewalk outside the International Space Station on Friday. They were at the station in Washington to assemble a modification kit for its power channel. This 281st spacewalk, which lasted six hours and 27 minutes, took place on Thursday and concluded Friday. The work will allow for future installation of IROSA solar arrays to boost power for critical systems. The crew has two more spacewalks scheduled for August 13 and August 25 for further maintenance.
world Israeli Prime Minister Benjamin Netanyahu thanked Indian Prime Minister Narendra Modi following a phone conversation about the strategic partnership. The leaders reviewed cooperation and regional developments during the call, which took place on Friday. The Prime Minister's Office confirmed that they reaffirmed commitment to strengthening bilateral cooperation across various sectors. Their discussion also covered the evolving situation in West Asia, amid ongoing security developments. Both nations agreed to remain in touch as they monitor the wider regional situation.
business The Supreme Court allowed the Delhi High Court's request to transfer two special judges, Sunena Sharma and Dheeraj Mor. The judges were involved in the CBI coal scam cases in Delhi. Sharma took charge in January, and Mor was appointed in April 2025, with the transfer request coming after only six months for Sharma. The High Court noted both officers were of outstanding merit and better suited for other duties. Replacements Virender Kumar Kharta and Ajay Garg have been appointed to their respective posts. ⚖️
world A Thai woman married to an American man shared her experience after living in the US for three years. She stated that the reality did not match the expectations of the American Dream. The rising cost of living and feeling like a 'rat race' made daily life tough. She prefers Thailand because of its relaxed lifestyle and affordable healthcare. This has led her to want to move back to her home country. 😮
business India's crude import bill increased by 26% year-on-year in the first quarter of 2026-27. This rise occurred while overall import volumes actually fell by 18% in April to June 2026. The bill reached $49 billion, up from $39 billion in the same period last year. Supply disruptions from the West Asia conflict and rising global oil prices drove this increase. India is prioritizing securing energy supplies for its 1.4 billion people moving forward. ⛽
An eight-year-old schoolgirl was allegedly raped and then strangled by a man in Madhya Pradesh's Narsinghpur district. The 22-year-old accused, who was also part of the search, was arrested on Thursday. The incident happened on Wednesday when the girl disappeared after school, leading to an eight-hour search. Locals demanded the accused's house be bulldozed and for a death penalty to be served. The case is set to be tried in a fast-track court. 💔
business Gold futures managed to push higher after yesterday's pullback, successfully reclaiming the declining channel. Buyers are now targeting the 4,500-4,525 range if key levels are held. The next technical barrier before this move is the major bearish gap between 4,375-4,381. Momentum indicators currently suggest continued strength for buyers in the market. A failure to close above the red declining channel could stall this upward trend.
top The Supreme Court ordered the sharing of an NFSU report concerning audio clips linking former Manipur CM N Biren Singh to the state's ethnic violence. The Centre informed the court that these alleged recordings had been manipulated, citing forensic lab findings. This was presented before Justices Sanjay Kumar and Sanjeev Sachdeva on Friday. The petitioner's side argued that a 'Truth Labs' report showed over 93% certainty that the voice belonged to Singh. Ultimately, the apex court mandated that the NFSU's six-page report be given to both the petitioner and the Centre’s counsel. 🧐
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