
Is Tamil Nadu in financial crisis; Madras HC questions non-payment of dues
Justice N Anand Venkatesh raised the query on Tuesday while hearing a petition filed by KTV Health Food Private Limited, a supplier of edible oil to the Tamil Nadu Civil Supplies Corporation, seeking a direction to the government to release outstanding and overdue amount of Rs 141.22 crore.
The counsel for the petitioner told the court the outstanding amount has mounted to about Rs 200 crore now. Subsequently, the judge noted that several petitions seeking directions to the government to disburse the money owed to pensioners have also been filed in the recent days.
Stating that the government has to function as model, the judge asked, 'Does the government think it need not pay the dues or is there any financial crisis in the state?'. The judge sought the government's response and adjourned the case to June 27.
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Economic Times
25 minutes ago
- Economic Times
India will be among biggest contributors to our growth in long run: Amazon's Samir Kumar
Agencies Samir Kumar, Country head, Amazon India India is expected to become one of the largest contributors to Amazon's long-term growth, its country head Samir Kumar said on Wednesday, adding that the ecommerce giant is doubling down on its focus in the market, where it is investing billions of dollars. India is still not as deeply penetrated in terms of online consumption and therefore, presents a "very large opportunity" for Amazon, Kumar, who is now helming operations here as the country manager of Amazon India, told PTI in an interview. It is pertinent to mention that Amazon has committed to significant investment in its India infrastructure, about Rs 2,000 crore for 2025 alone. It has previously outlined a broader investment pledge of $26 billion by 2030, with close to $15 billion between 2023 and 2030. Kumar said India is among the fastest-growing markets for the company."And we are a big believer that in the long run, India will be one of the biggest contributors to our growth," Kumar said, but did not give a is still not deeply penetrated in terms of consumption, he said, adding that while users are online, buying products and watching videos, there is a huge headroom for growth when it comes to online shoppers."...not everyone is shopping online. If you look at just mobile phone penetration, maybe it is close to a billion people, who have mobile phones, but only 100 million plus of them are shopping online. So, the next 200 million (that the company is aspiring to reach) are going to be part of that," he pointed the economy grows, and so does consumption, and as GDP per capita rises, India is poised to have "many more consumers who will value the convenience of shopping online", Kumar noted."We have seen this phenomenon around the world. So, we have a very large opportunity still remaining in India. We have 1.4 billion people," he company has set its sights on what Kumar describes as a broader 'Bharat', living in tier II, III cities and beyond."Let's take a good chunk of that and make sure that they are able to come online, shop online, get the best value, and get the fastest delivery possible. And with that, I believe there's a big opportunity. So, beyond the tier I cities, there's a huge opportunity in 'Bharat', which is like tier II, III cities, where we are seeing very deep penetration now starting to happen," he said. For Amazon, part of that optimism also comes from Prime Day sales indicators. "In fact, if you look at the Prime Day performance that we just concluded, almost 70% of new Prime customers or Prime members came from these smaller cities. If you look at our sellers who participated in Prime Day, almost 60 to 75% of them got a sale from the smallest town and city. So, I think India is growing," he declined to give a breakdown of India numbers, but said it is "definitely one of our fastest growing markets, continues to be"."And we continue to see the growth of India," he is "happy" with the progress that it has made so far, but believes "there's so much to be done"."We are very, very long-term focused," he how macroeconomic realities, and the trade and tariffs tensions between India and the US are impacting exporters on its platform, Kumar refused to comment on specifics, saying "I am not an expert on tariffs"."...what we building a frictionless and really smooth experience for our sellers, whether it's building the middle mile or the global mile capability for people to take their item and be able to distribute it around the world. "So, we are building that capability. Making it easier for sellers to list their products in one place and go through the regulatory and compliance requirements in each of the marketplaces that we run. So, we are enabling that," he said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Regulatory gray area makes investing in LVMH, BP tough For Indian retail How IDBI banker landed plush Delhi properties in Amtek's INR33k crore skimming As 50% US tariff looms, 6 key steps that can safeguard Indian economy Jane Street blow pushes Indian quants to ancient Greek idea to thrive Stock Radar: Astra Microwave showing signs of bottoming out after 16% fall from highs; time to buy? F&O Radar | Deploy Broken Wing in Paytm to play stock's bullish outlook These 9 banking stocks can give more than 28% returns in 1 year, according to analysts Why 2025 Could Be The Astrological Turning Point We've Been Waiting For
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First Post
26 minutes ago
- First Post
Is Canada making Express Entry easier for some professions? Will it benefit Indians?
The Immigration, Refugees and Citizenship Canada (IRCC) has issued a draft for public consultation focused on the Express Entry system. Ottawa is said to be considering creating new categories to make Express Entry easier for some applicants, which may benefit Indians The proposal, which was put up on the Canadian government's website, is inviting feedback from the public. Reuters Is Canada planning to make it easier for Indians to apply via its Express Entry programme? The Immigration, Refugees and Citizenship Canada (IRCC) has issued a draft for public consultation focused on the Express Entry system. Ottawa is said to be considering creating new categories to make Express Entry easier for some applicants – which may benefit Indians. The proposal, which was put up on the Canadian government's website, is inviting feedback from the public. It will remain open for input till September 3. No further details have been announced. The new categories, if approved, would open in 2026. STORY CONTINUES BELOW THIS AD But what is it? What do we know the new draft? Let's take a closer look What is Express Entry? It is an online system used by Canada's federal government to attract skilled workers. A way for foreigners to gain permanent residency in Canada, it is said to be popular with Indians. The Canadian government uses an 'Express Entry draw' to decide who receives an invitation to apply for permanent residency through the programme. These are known as invitations to apply (ITAs). The government invites candidates who meet the specific criteria for a certain category. This is in separate from general draws and program-specific rounds such as those for the Canadian Experience Class (CEC) and Provincial Nominee Program (PNP). It selects the highest-ranking candidates from the applications received How you rank as a candidate is based on a number of different factors. Canada under Prime Minister Mike Carney has vowed to resolve the labour shortage of skilled workers. AP It does so by using a Comprehensive Ranking System (CRS), which takes into account, among other factors marital status, age, education, whether you have a degree, diploma or certificate from a Canadian University and if you have passed English and French language tests in the past two years. The Canadian government sends out invitations to apply under this scheme in several rounds. An applicant's CRS score must be more than the minimum needed points score of their particular round. Cut-off scores may differ with each round. Those who are chosen have 60 days to apply. One can determine if one is eligible for Express Entry by filling out a questionnaire on the website. Those who are eligible can create an application online and submit the relevant documents. STORY CONTINUES BELOW THIS AD The fee for Express Entry is around $1,100 (Rs 96,000) for applicants and another $1,100 (Rs 96,000) for their spouses. Applicants must pay $188 (Rs 16,500) for dependent children. The time taken to process an application varies as per the category one applies under. Canada in issued 98,903 ITAs via Express Entry in 2024, 110,266 in 2023 and 45,115 in 2022. The peak came in 2021, when it issued 114,431 ITAs. What do we know about the new draft? The new draft proposes creating an entirely new section – the 'Leadership and Innovation' category. This would allow senior managers, researchers, and scientists to gain pathway to permanent residency. It defines senior managers as 'highly skilled workers who oversee the operations of a company or organisation and who lead a team of employees'. The IRCC said such leaders could 'inject fresh perspectives, accelerate digital transformation, boost productivity, and help organisations meet strategic goals'. The report says researchers and scientists could 'enhance productivity and performance' and 'stimulate economic growth'. However, it did not specify What type of scientists or researchers would be given preference. STORY CONTINUES BELOW THIS AD The influx of workers would thereby boost Canada's competitiveness with other nations, the government says. The move also seek to address the shortages in Canada's labour market and acknowledges its ongoing struggle to find skilled workers for healthcare, trades such as construction, education, science, technology, engineering and mathematics (STEM) fields, and agriculture. Canada has also suggested attracting highly skilled military recruits from allied nations under a new category. They would play a role in supporting the Canadian Armed Forces. Canada in May for the first time sent out 1,000 Express Entry invitations to eligible foreigners under a new Education Occupations category. This category, which was added in February, was weighed in favour of those with work experience in Canada. It was done in order to bolster the ranks of educational professionals in Canada – which the country is falling severely short on. With inputs from agencies


Time of India
26 minutes ago
- Time of India
Gold ETF inflows decline by 40% to Rs 1,256 crore in July. Here's why
Live Events The inflows in Gold ETFs in July declined by nearly 40% to Rs 1,256 crore against Rs 2,080 crore in June. On a year-on-year basis, the inflows have slipped 6% from Rs 1,337 crore in July experts believe that the sustained demand reflects gold's continued appeal as a portfolio diversifier amid lingering macro uncertainties, including volatile global interest rate expectations and geopolitical Read | Sectoral & thematic mutual funds see record jump in inflows to over Rs 9,400 crore. Is it time to enter or stay cautious? 'Gold ETFs witnessed net inflows of INR 1,256 crore in July 2025, moderating from the robust INR 2,081 crore recorded in June but still marking the third consecutive month of positive flows. The sustained demand reflects gold's continued appeal as a portfolio diversifier amid lingering macro uncertainties, including volatile global interest rate expectations and geopolitical risks,' said Nehal Meshram, Senior Analyst – Manager Research, Morningstar Investment Research expert says that though the slowdown may appear abrupt, it comes against the backdrop of a 41% surge in gold fund values over the past 12 months and the four factors behind the softening of gold ETF demand includes profit-taking at record highs, portfolio rotation into equities, attractive yields in short duration debt instruments, and renewed risk appetite in global markets.'While the slowdown may appear abrupt, it comes against the backdrop of a 41% surge in gold fund values over the past 12 months and the yellow metal scaling new all-time highs, with the latest peak of Rs 1.02 lakh per 10 grams scaled last week,' said Subho Moulik, CEO & Founder at ETFs saw outflows for two consecutive months—Rs 77.21 crore in March and Rs 5.82 crore in April—but have recorded positive inflows over the past three Read | Gold price hits record high: Should you buy now or beware? In the current financial year so far, gold ETFs have received a total inflow of Rs 3,623 crore, and in the current calendar year, the total inflow in these ETFs has been Rs 9,277 to Nehal, 'Year-to-date, Gold ETFs have garnered cumulative inflows of over INR 9,277 crore, underscoring their growing role as a strategic allocation in portfolios, both for wealth preservation and as a counterbalance to risk assets.'In July, Gold ETFs delivered an average return of 1.18% with the Tata Gold ETF being the top performer. The scheme delivered 2.04% return in July. Nearly five gold ETFs gave a 1.15% return in the same period. Invesco India Gold ETF gave the lowest return in March of around 1.09% in July'While prices have remained elevated, investor interest appears supported by central bank buying trends globally and persistent concerns over equity market volatility and the domestic investors are also likely viewing gold allocations as a tactical hedge ahead of key economic data releases and policy decisions in the coming months,' Nehal Read | Ethereum outpaces crypto market with 41% monthly surge; Bitcoin at $119K. Should you buy? The assets under management (AUM) of Gold ETF went up by 4% from Rs 64,777 crore in June to Rs 67,634 crore in July. On a yearly basis, the AUM has surged by nearly 96% from Rs 34,455 crore in July to the latest data by the Association of Mutual Funds in India ( AMFI ), only one new scheme was launched in the category in July. Motilal Oswal Gold ETF collected Rs 6 crore.