Economy / The Economic Times
A Group of Ministers (GoM) convened to address declining GST revenue in major states and combat input credit frauds, which have caused significant losses. The GoM is considering technology-driven solutions, including AI-enabled monitoring, to enhance GST collection and curb fraudulent practices. Concerns were raised about the slow growth and decline in collections in states like Maharashtra, Karnataka, and Uttar Pradesh.
President Trump announced that the US is likely to begin notifying trading partners on Friday about new tariffs on their exports, set to take effect on August 1. He reiterated his preference for simple agreements over complex negotiations, ahead of his initial July 9 deadline for countries to reach deals with the US.
The finance ministry announced that the Unified Pension Scheme (UPS), set to launch for central government employees on April 1, 2025, will receive the same tax benefits as the National Pension System (NPS). This decision aims to boost the UPS by ensuring parity with the existing NPS structure, offering substantial tax relief and incentives to employees who choose the UPS.
Finance Minister Nirmala Sitharaman urged decisive collective action from the Global South to address uncertainties stemming from fiscal constraints and geopolitical dynamics. She emphasized the NDB's role in catalyzing public and private investments, supporting infrastructure, and fostering cooperation. India reaffirmed its commitment to sustainable development and highlighted its economic resilience, projecting continued growth in the coming years.
Sindoor, a symbol of auspiciousness for married Indian women, traces its origins back to the Harappan civilization and ancient trade routes, possibly sourced from Iran.
The 2026 elections are expected to be fiercely contested, with control of both chambers hanging in the balance. While Republicans are touting the bill as a roadmap to prosperity and stronger borders, Democrats are warning of rising inequality and weakened social protections.
Orlando Bloom is reportedly struggling with his recent split from Katy Perry after nearly a decade of on-again, off-again romance. Despite the official confirmation of their separation, Bloom is allegedly reaching out to Perry, hoping for a reconciliation. He's reportedly been sending messages, voicemails, and even handwritten letters, while the pair focus on co-parenting their daughter, Daisy Dove.
The government is set to offer subsidised tomatoes via NCCF and NAFED. This action addresses the recent price surge caused by heavy rains in Himachal Pradesh. These rains damaged crops and disrupted transportation. Tomato prices in Delhi NCR have already doubled, exceeding 60 per kilogram. The government aims to sell tomatoes for under 50 per kg.
Toronto and much of southern Ontario are under a heat warning this weekend, with temperatures expected to feel like 40C due to humidity. Environment Canada advises residents to stay hydrated, seek air conditioning, and limit outdoor activities during peak heat hours. Several cities, including Hamilton, Mississauga, and London, are affected, prompting Hamilton to open cooling centers for public relief.
Upendra Kushwaha, RLM leader and NDA ally, voiced concerns about the ECI's SIR exercise in Bihar, emphasizing the need to ensure no genuine voter is excluded. He suggested the ECI should have started the revision earlier, given the large population and migrant worker base. Kushwaha highlighted fears among migrant voters and those lacking required documents about potential voter list exclusion.
Nvidia's CEO Jensen Huang introduced the GB200 Grace Blackwell superchip at VivaTech 2025, calling it a technological miracle. This superchip combines two Blackwell B200 GPUs and a Grace CPU, designed for both training and inference of large language models. Nvidia is now mass-producing these systems at an unprecedented scale of 1,000 per week.
The article champions eating with fingers as a refined, sensory-rich practice deeply rooted in culture, particularly within the 'Global South.' It highlights the dexterity, hygiene, and sensory benefits of using fingers over cutlery, challenging the notion that it's unsophisticated. The resurgence of this debate, sparked by a Ugandan-Indian-American politician, could unite cultures through shared traditions like 'Kamayan'.
Maharashtra Deputy CM Eknath Shinde's Jai Gujarat remark at a Pune event, attended by Amit Shah, has ignited controversy amidst a language debate in Maharashtra. This came shortly after an investor challenged MNS president Raj Thackeray about learning Marathi.
Amarnath Yatra sees a huge turnout. More than 20,000 pilgrims visited the ice Shivling. Manoj Sinha inaugurated Yatri Niwas Complex at Baltal. The complex can accommodate 800 pilgrims. Devotees are coming from across India. Local people are welcoming the pilgrims. The government has improved facilities. Pilgrims with future registration dates are requested to wait.
The Supreme Court rejected a student's plea to correct an alleged error in the NEET UG 2025 answer key, citing unwillingness to interfere with nationwide exam results based on individual grievances. The court distinguished this case from NEET-UG 2024, where intervention was due to widespread discrepancies, emphasizing that individual challenges are not grounds for intervention after results are declared.
Arunachal Pradesh Chief Minister Pema Khandu and MP Tapir Gao are set to attend the 90th birthday celebrations of the 14th Dalai Lama in Dharamshala. The two-day event, commencing on July 5, is expected to draw a large crowd.
The tech industry is experiencing a significant shift with the rise of vibe coding, where engineers instruct AI to write code. This requires skills like prompt engineering and communication, impacting India's tech workforce. Companies are prioritizing AI fluency, offering salary premiums, while automating repetitive tasks. This transition demands a rethinking of software development education and accelerates AI-enabled software delivery.
External Affairs Minister S Jaishankar will visit China for three days starting July 13. He will attend bilateral meetings in Beijing and the SCO Foreign Ministers' meeting in Tianjin. This visit precedes the SCO Summit in September, for which Prime Minister Narendra Modi has been invited. Following Jaishankar's visit, Chinese Foreign Minister Wang Yi is expected to visit India.
Odisha Administrative Service (OAS) officers have returned to work after the arrest of BJP leader Jagannath Pradhan, who was allegedly involved in the assault of BMC additional commissioner Ratnakar Sahoo. Pradhan surrendered to police and has been remanded to 14-day judicial custody. Security has been increased at the BMC office following the incident.
Horoscope Today 5 July brings powerful astrological updates for all zodiac signsGemini, Scorpio, Sagittarius, Libra, Pisces, Aries, Taurus, Virgo, Leo, Cancer, Capricorn, and Aquarius. Whether you're dealing with relationship questions, career crossroads, or a fresh start, todays horoscope delivers timely guidance based on planetary movements. Tap into this daily astrology forecast to navigate love, money, work, and wellness with confidence and clarity. Stay in tune with the most accurate July 5
Security forces have intensified their search operation for terrorists hiding in the Kishtwar district's forest area, now entering its third day. The operation, initiated after an encounter on Wednesday in the Kanzal Mandu area, involves additional troop deployments to reinforce the cordon.
India is unlikely to immediately recognize the Taliban. Russia's move creates opportunities for New Delhi. India-Kabul ties have been improving. Russia's recognition may help India. It could allow India to balance regional strategy. India has resumed visa services for Afghans. Jaishankar thanked Muttaqi for condemning the Kashmir attack. The Taliban wants to use INSTC and Chabahar for trade.
Jake Larson, a 102-year-old World War II veteran, is gaining popularity on TikTok. He is known as Papa Jake. He fought in six major battles, including Omaha Beach. Jake lied about his age to join the National Guard. He values freedom because of his tough childhood. He honors the soldiers who sacrificed their lives.
Carlos Alcaraz, the defending Wimbledon champion, is pressing forward in his bid for a historic third straight title at the All England Club. Carlos Alcaraz, the defending Wimbledon champion, is pressing forward in his bid for a historic third straight title at the All England Club.
Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an airstrike on a tent encampment west of the city around 2 a.m., killing 15 Palestinians displaced by nearly two years of war. The Israeli military had no immediate comment.
Elon Musk praises Donald Trump's international diplomacy. This comes after Musk's earlier criticism of Trump's economic policies. Trump's administration has brokered a Gaza ceasefire deal. He also seeks peace in the Russia-Ukraine war. Efforts are underway to resolve conflicts between Israel and Iran, Rwanda and Congo. Trump's allies nominate him for a Nobel Peace Prize.
Lt Gen Rahul R Singh revealed China's live support to Pakistan during Operation Sindoor, including intel on Indian deployments. He highlighted China's strategy of using Pakistan to avoid direct confrontation and Turkey's role in providing weapons and personnel. India's response sent a clear message about punitive action if red lines are crossed.
Joey Chestnut, the hot dog eating champion, made a triumphant return. He secured his 17th Mustard Belt at Nathan's competition. Chestnut consumed 70.5 hot dogs, surpassing all contenders. He missed the previous year due to a contract conflict. Chestnut expressed his joy at being back and his love for the competition. He aims to return next year.
Madhya Pradesh Chief Minister Mohan Yadav announced that over 1.27 crore women beneficiaries of the Ladli Behna Yojana will receive Rs 1500 monthly post-Diwali, increased from Rs 1250. A special budget of Rs 27,147 crore is allocated for women, including Rs 18,699 crore for the scheme.
Interventional cardiologist Dr. Sanjay D. Bhojraj, who has treated heart conditions for over 20 years, avoids giving his children five specific foods he believes can negatively impact long-term health: microwave popcorn, flavored yogurts, processed meats, sugary cereals and drinks, and deep-fried foods. His choices reflect a broader preventive approach rooted in functional medicine and aim to reduce early exposure to processed ingredients and excess sugar.
Delhi University will soon start the next phase for undergraduate admissions. Candidates can fill their course and college preferences. This follows the release of the Common University Entrance Test results. The academic session is scheduled to begin on August 1. The university offers 79 courses across 69 colleges. There are 71,624 seats available this year.
Heavy rain triggered flash floods in Texas. The Guadalupe River overflowed, causing fatalities. Rescue teams are helping people in affected areas. Governor Greg Abbott has sent resources to Hill Country communities. In New Jersey, thunderstorms led to three deaths. A tree fell on a car during the storm. The city of Plainfield has cancelled its July Fourth celebrations.
India is set to host its first international javelin event, the Neeraj Chopra Classic, in Bengaluru on July 5, marking a significant step in its Olympic hosting ambitions. The World Athletics Category A status event will attract top athletes vying for world ranking points and World Championships qualification.
Joey Chestnut made his triumphant return to the Nathan's Famous Hot Dog Eating Contest in 2025. After being banned from the event, he has won his 17th title at the annual event. Joey Chestnut ate 70.5 hot dogs on July 4, 2025, which made him the winner against his competitors at the contest.
A Kashmir court has ruled that the Model Code of Conduct (MCC) lacks statutory backing and cannot be classified as an order under section 188 of the IPC. The court dismissed a challan against PDP legislator Waheed ur Rehman Parra, who was accused of violating the MCC by organizing a rally without permission.
With Trump's tax cuts extended and Medicaid restrictions tightened, the bill is poised to redraw the contours of Americas healthcare landscape. Its long-term impact will depend on how states choose to implement the new rules.
Bigg Boss Malayalam Season 7 has officially kicked off with a high-impact teaser featuring host Mohanlal in a fierce new avatar. The teaser, released ahead of the main promo, has generated excitement among fans. This season will once again include both celebrities and commoners, with casting now open through an online application process. The show is expected to premiere in August 2025, though the exact date is yet to be confirmed.
Prime Minister Narendra Modi, addressing the Trinidad & Tobago Parliament, declared terrorism an enemy of humanity, urging global unity against it. He thanked the nation for supporting India's fight against terrorism and designated it a priority nation for India. Modi advocated for UN reforms amidst rising challenges and the Global South's emergence.
Taylor Fritz is currently dating Morgan Riddle, whose social media presence and unwavering support have made her one of the most recognised figures in the sport's wider circle. Taylor and Riddle's romance started during the pandemic. Morgan, an influencer with millions of followers on social media, is on a mission to revitalize tennis.
Following Jeff Bezos and Lauren Snchez's lavish Venice wedding, a dress from Snchez's extensive wardrobe has mysteriously disappeared, sparking speculation. Despite initial reports suggesting theft and gatecrashers at the event, no formal police complaint was filed, with sources believing the dress will eventually resurface. The custom Dolce & Gabbana ceremony gown remains secure amidst the unfolding mystery.
Donald Trump's new tax bill includes a small increase to the child tax credit. However, many low-income families may not benefit. Families need to earn $2,500 or more to qualify for the full credit. About 17 million children could be denied the full benefit. Undocumented immigrant families will also be excluded.
India and EFTA trade agreement may start soon. Piyush Goyal says it could happen in a couple of months. The agreement involves 100 billion USD investment in India. India issued many quality control orders in the last 10 years. This is to stop import of bad products. Goyal wants more testing labs and better product quality.
A panel of state finance ministers convened to address the escalating issue of tax evasion, particularly concerning Input Tax Credit (ITC) fraud, which has reached a staggering Rs 2 lakh crore. The Group of Ministers (GoM) also analyzed revenue trends, e-invoicing, and IT system enhancements.
Salman Khan has unveiled the first look of his upcoming film Battle of Galwan, which is based on the 2020 clash between Indian and Chinese soldiers in Ladakhs Galwan Valley. The motion poster shows Khan in a fierce, bloodied avatar, portraying the intense real-life battle that occurred without a single bullet being fired. The film aims to highlight the bravery of Indian soldiers and marks one of Khans most intense roles to date.
Tragedy struck as Liverpool's Diogo Jota and his brother Andre died in a car crash in Spain, en route to catch a ferry to the UK, as reported by The Telegraph. The 180,000 Lamborghini caught fire after an overtaking attempt. This occurred shortly after Jota's recent marriage and lung surgery recovery.
American airlines flight diverted: An American Airlines flight diverted back to Puerto Rico after a passenger oversaw another passenger receive a cryptic text message. The passenger assumed it was a threat to the flight, and the plane was diverted due to a possible security concern, the airline said in a statement. The flight resumed its course to Dallas after the text was determined not to be a threat.
The Fourth of July is more than a day of fireworks; its a tribute to the enduring ideals that built a nation: freedom, bravery, and unity. As the United States marks nearly 250 years of independence in 2025, these values continue to bring people together through a heartfelt note, a thoughtful message, or a social media post.
The Enforcement Directorate has attached assets worth over Rs 34 crore belonging to Kannada actress Ranya Rao in connection with a gold smuggling and money laundering case. The attached properties include a house, a plot, industrial land, and agricultural land, all located in Karnataka. Rao was arrested in March for allegedly smuggling 14.2 kg of gold bars from Dubai.