Weekly News Platter
The Economic Times

Weekly News Platter

16 Aug, 2025, 02:38PM IST, PTI


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In case you had a busy week, these are the top stories you need to get caught up to speed...
Once India's chip ambition got burnt. Now it's being revivedOnce India's chip ambition got burnt. Now it's being revived
Prime Minister Modi announced that India will launch its first domestically made semiconductor chip by year-end, highlighting renewed focus on chip manufacturing. India’s early semiconductor efforts at Mohali faced setbacks, keeping production limited to defence and space. The government now plans modernisation and new projects to boost self-reliance and global competitiveness. Read more
GST reforms: Govt mulls 5% slab for common man items; Luxury, sin goods to face 40% taxGST reforms: Govt mulls 5% slab for common man items; Luxury, sin goods to face 40% tax
The Centre is contemplating a significant GST overhaul, proposing a simplified structure with primary slabs of 5% and 18%, alongside a 40% rate for luxury and sin goods. This rejig aims to shift most items from the 12% slab to 5% and from the 28% slab to 18%, benefiting the common man with lower taxes on daily-use products. Read more
Tax cuts, refunds, ITR deadline extension drag India's direct tax numbers downTax cuts, refunds, ITR deadline extension drag India's direct tax numbers down
Government officials said there was no cause for worry as they expect collections to pick up from next month and meet the projections for the fiscal year. Economists also expect the numbers to improve as the year progresses. Read more
Beijing doors ajar for trade package deliveryBeijing doors ajar for trade package delivery
India and China are poised to begin discussions on a trade package encompassing critical rare earth magnets, fertilizers, and pharmaceuticals, potentially signaling a thaw in relations amid global trade tensions. Consultations are expected around the time of the SCO summit. Read more
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Over 50 mutual fund SIPs give negative returns in 1 year. Should you pause, redeem, or continue?Over 50 mutual fund SIPs give negative returns in 1 year. Should you pause, redeem, or continue?
Around 51 equity mutual fund SIPs show negative returns in the last year. Samco Flexi Cap Fund leads losses, followed by Quant funds. Experts advise against panicking. They suggest continuing SIPs for long-term benefits. Investors should track fund performance against peers. Nifty 50 and BSE Sensex gained, while small-cap indices declined. Investment decisions should align with risk appetite and goals. Read more
India to build 'Sudarshan Chakra' defence system to shield key national sites: PM ModiIndia to build 'Sudarshan Chakra' defence system to shield key national sites: PM Modi
Prime Minister Narendra Modi on Friday announced that India will develop the 'Sudarshan Chakra' defence system, a state-of-the-art technological shield to protect all critical national sites, ensuring full security against evolving threats by 2035. Read more
July auto sales in neutral, companies hope for festive accelerationJuly auto sales in neutral, companies hope for festive acceleration
As many as 340,772 cars, sedans, and utility vehicles were dispatched from factories to dealerships last month, marginally lower than 341,510 vehicles in July 2024, showed data released by industry body Society of Indian Automobile Manufacturers (SIAM) on Thursday. Read more
Retail inflation eases to over 8-year low of 1.55% in July aided by cooling food pricesRetail inflation eases to over 8-year low of 1.55% in July aided by cooling food prices
India’s retail inflation fell to 1.55% in July, the lowest since June 2017 and below the Reserve Bank of India’s 2%–6% tolerance band for the first time in over six years, government data showed. The reading was down from 3.16% in April and 3.54% in July 2024, and lower than the 1.76% forecast in a Reuters poll. Read more
FASTag annual pass launched. How to get it, features and other detailsFASTag annual pass launched. How to get it, features and other details
MoRTH and NHAI have introduced a FASTag Annual Pass for private vehicles, aiming to streamline toll payments and alleviate highway congestion. Priced at ₹3,000, the pass offers up to 200 crossings or one year of validity for non-commercial vehicles. However, users have reported technical glitches, including payment issues and inapplicability on certain highways, despite its potential benefits for frequent travelers. Read more
SC reserves order on plea against stray dog relocation, says problem persists due to authorities' inactionSC reserves order on plea against stray dog relocation, says problem persists due to authorities' inaction
The Supreme Court on Thursday reserved its order on pleas challenging the August 11 directive by a two-judge bench to relocate stray dogs in Delhi-NCR to shelter homes. A three-judge bench, led by Justices Vikram Nath, Sandeep Mehta, and N V Anjaria, observed that the core issue stems from authorities’ failure to implement existing laws and rules. Read more
Trump-Putin Alaska Summit: Key highlights from a 'productive' but 'no deal yet' meetingTrump-Putin Alaska Summit: Key highlights from a 'productive' but 'no deal yet' meeting
The summit between President Trump and President Putin in Anchorage concluded without a ceasefire agreement for the war in Ukraine, despite being described as "productive." While both leaders cited progress on unspecified issues, no binding commitments were made, and a follow-up meeting with President Zelenskiy is uncertain. Read more
Lok Sabha Speaker starts process to impeach Justice VarmaLok Sabha Speaker starts process to impeach Justice Varma
Lok Sabha Speaker Om Birla has begun impeachment proceedings against Allahabad HC judge Yashwant Varma over a “currency seizure” case, appointing a three-member panel to probe the charges. The move follows a notice signed by 146 MPs, and the report is expected by the winter session. Justice Varma could become India’s first judge to be impeached. Read more
Death toll reaches 257 in Himachal monsoon; Public infrastructure badly damagedDeath toll reaches 257 in Himachal monsoon; Public infrastructure badly damaged
Himachal Pradesh has been devastated by monsoon rains since June 20, resulting in 257 deaths and widespread destruction. Mandi, Kangra, and Kullu districts are the worst-hit, with significant loss of life, property damage exceeding Rs 2,14,403 crore, and infrastructure disruption. Authorities caution of continued rainfall and urge residents to avoid travel in vulnerable areas. Read more
250 Indians, Pakistanis die as flash floods batter South Asia250 Indians, Pakistanis die as flash floods batter South Asia
Heavy rains have unleashed devastating flash floods across Pakistan and India, resulting in a tragic loss of life. Pakistan reports at least 194 deaths and numerous injuries, while India's Jammu and Kashmir region has seen at least 60 fatalities. Read more

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