SC questions bulldozer justice, will lay down 'pan-India' norms for due process

Pointing to concerns over bulldozers being used to demolish the houses of people accused of some crime in some states, the Supreme Court said it would lay down "pan-India" guidelines on the issue. 

"It is a position of law. How can anybody's house be demolished only because he is an accused? Even if he is a convict, it can't be done without following the procedure as prescribed by law," remarked Justice B R Gavai. 

CCS approves buying 240 aero engines from HAL for ₹26,000 cr

The Cabinet Committee on Security (CCS) approved a proposal to procure 240 aero-engines for the Su-30 MKI aircraft of the Indian Air Force (IAF) at a cost of over 26,000 crore, the Defence Ministry said.

The engines (AL-31FP) will be procured under the 'Buy (Indian)' category from Hindustan Aeronautics Ltd (HAL), it said in a statement. The delivery of these aero-engines will start after a year and be completed over eight years.

The IAF has around 260 SU-30 MKI aircraft which form the backbone of its fighter fleet. The fourth-generation fighter jet is powered by two AL-31 FP aero engines. AL-31FP is a high-temperature turbojet by-pass engine of modular design. 

Cabinet OKs ₹3,300-cr chip assembly plant in Gujarat

The Union Cabinet cleared a semiconductor assembly and testing plant being set up by Kaynes Semicon at a cost of ₹3,300 crore. This is the fifth semiconductor unit, and the fourth assembly unit, to receive Cabinet approval under India's ambitious ₹76,000 crore chip manufacturing incentive scheme.

"The capacity of this unit will be 60 lakh chips per day... The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc." the Ministry of Electronics and IT (MeitY) said in a statement. 

India, Singapore pacts on semiconductor, health likely, says MEA ahead of PM visit

As Prime Minister Narendra Modi is headed to Brunei and Singapore, India and Singapore are looking at a number of "new, forward-looking futuristic areas of cooperation" in semiconductors, digitisation, skill, health, advanced manufacturing and connectivity, and are likely to sign pacts in these areas, an official said. 

PM Modi is slated to visit Singapore on September 4-5 at the invitation of his Singaporean counterpart Lawrence Wong. Modi is visiting Singapore after nearly six years, he said. 

Before that, he is scheduled to visit Brunei on September 3- 4 at the invitation of Sultan Haji Hassanal Bolkiah. 

Beyond the headline number

GDP growth in the first quarter fell short of the RBI's expectations. At 6.7 per cent, growth is still higher than the decadal average of 6.4 per cent for the first quarter. Economic activities were clearly influenced by seasonal factors and the general elections during that period. 

Despite the low number, the Q1FY25 throws up more positive trends than what the headline estimate suggests. Demand shows a largely positive picture with all heads except valuables showing positive growth. 

Private consumption grew by a robust 12.4 per cent in current prices. Robust consumption data reaffirms that the rural rebound remains strong. 

An uptick in agricultural growth in subsequent quarters on the back of a better monsoon will provide a strong impetus. Investments also registered a healthy growth of 9.1 per cent in current prices with an investment rate of 31 per cent. 

Government expenditure registered a growth of 4.1 per cent, which was slower but it must be kept in mind that the general election was held in the first quarter. For example, government spending fell by close to 20 per cent quarter-on-quarter. 

Plan for the farms

The Union Cabinet approved the Rs 2,817-crore Digital Agriculture Mission for the creation of Digital Public Infrastructure (DPI) in the farm sector. 

The mission to create DPI in the agriculture sector is similar to the government's flagship- governance initiatives in other sectors, which have over the years produced pathbreaking digital solutions such as the Aadhaar unique ID, the Digi-Locker document folder, the e-Sign electronic signature service, the Unified Pay- Interface (UPI) instant money transfer protocol, and electronic health records. 

Three major components of DPI are envisaged under the Digital Agriculture Mission: Agri-Stack, Krishi Decision Support System (DSS), and Soil Profile Maps. Each of these DPI components will provide solutions that will allow farmers to access and avail of various services.

The mission also aims to create a tech-based ecosystem, the Digital General Crop Estimation Survey (DGCES), which is expected to provide accurate estimates of agricultural production.

Need to avoid market dominance of policy discourse: Nageswaran

India should avoid a "financial- situation trap" as the dominance of financial markets on policy and macroeconomic outcomes could lead to unprecedented levels of debt in both public and private sectors, and a massive surge in inequality, chief economic adviser Anantha Nageswaran cautioned. 

The financial sector "should remain the servant of the real economy", he said at the CII Financing 3.0 Summit in Mumbai. 

India's stock market capitalisation of around 140 per cent of the gross domestic product and the record profitability of the financial sector have given rise to a phenomenon that deserves closer examination, the CEA said. 

Nageswaran's comments come in the wake of a sharp rise in retail participation in the stock markets, even as household savings are at a low ebb and indebtedness is high.