25 July, 2025: India-UK sign landmark trade deal & other news of the day
Billed as the UK's most economically significant bilateral trade deal since leaving the European Union, the FTA was signed by Indian Prime Minister Narendra Modi and British Prime Minister Keir Starmer.
The India-UK free trade agreement (FTA) will significantly improve market access and boost bilateral trade by around USD 34 billion annually, the British government said on Thursday.
Ajmer Dargah admin draws flak
Several Muslim organisations have criticised a notice issued by the Nazim or chief executive officer of Ajmer Dargah in Rajasthan, disowning liability for any accidents caused by ageing structures within the shrine's premises. The July 21 notice, signed by Nazim Mohammad Belal Khan, warned pilgrims about 'structural risks' within the dargah but said the administration would not be responsible for accidents.
Eight militants arrested in Manipur
Security forces have arrested eight militants belonging to different proscribed outfits from Imphal West, Bishnupur, Tengnoupal and Chandel districts of Manipur, police said on Thursday. Two of them were from the banned Kangleipak Communist Party.
Meghalaya government raises minimum wages
The Meghalaya government has raised the minimum wages of unskilled labourers to Rs 541 per day, according to a notification issued by the Labour department. Semi-skilled workers will now be entitled to Rs 583 per day, skilled workers to Rs 624, and highly-skilled workers to Rs 665, it said.
India selected to host international space leaders
The Karman Project, a non-profit, has announced that its flagship event, 'Karman Week 2025', will take place in Bangalore, hosted by SatSure, a leading applied earth intelligence company. Karman Project and SatSure share a long-standing relationship, with SatSure's founder and CEO, Prateep Basu, selected as a Karman Fellow in 2020.
Opposition to protest against Bihar SIR in Parliament
Opposition parties protested in Parliament for the third consecutive day on Thursday against the ongoing Special Intensive Revision (SIR) held by the Election Commission of India. Rashtriya Janata Dal leader Tejashwi Yadav, along with MP Manoj Jha, have spoken about the possibility of a boycott.
Three new judges take oath in Delhi HC
Three new judges took oath of office on Thursday, taking the strength of the Delhi High Court to 43 against the sanctioned strength of 60. Justices Vinod Kumar, Shail Jain and Madhu Jain took the oath in Hindi, administered by Chief Justice Devendra Kumar Upadhyaya. The swearing-in ceremony was held within the high court premises.
Ex-Punjab Police officer sentenced to 10 years for fake encounter
A CBI court in Mohali has sentenced a former Punjab Police officer to 10 years of rigorous imprisonment in a 1993 fake encounter case involving two police constables. The court acquitted three other accused—then inspector Dharam Singh, 77, then assistant sub-inspector Kashmir Singh, 69, and then ASI Darbara Singh,71—in the case.
UP govt suspends two officials for lax supervision
Following a protest by women constable recruits over alleged poor living conditions in their barracks and privacy concerns, two senior officials, including the Commandant of the 26th Battalion of Provincial Armed Constabulary, have been suspended by the Uttar Pradesh government.
Saksham Thakur is an intern with ThePrint
(Edited by Shashank Kishan)
Also read: ED raids Anil Ambani group companies in Yes Bank loan diversion case, 35 premises searched
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News18
2 minutes ago
- News18
Rupee hits over four-month low; ends 21 paise down at 86.91 against US dollar
Agency: Last Updated: July 29, 2025, 20:30 IST Representational image (Image: News18) Mumbai, Jul 29 (PTI) The rupee declined to over four-month low level and closed 21 paise weaker at 86.91 against the US dollar on Tuesday, weighed down by a jump in the American currency index and a surge in crude oil prices. Forex traders said month-end dollar demand from Oil Marketing Companies (OMCs) and importers further pressurised the rupee. Moreover, investors remained on the sidelines ahead of the US Federal Reserve and Bank of Japan's monetary policy decision this week. At the interbank foreign exchange, the domestic unit opened at 86.76 and touched an intra-day low of 86.92 against the greenback, surpassing the closing level of March 17 when the unit had ended at 86.81 versus dollar. At the end of Tuesday's trading session, the local unit settled at 86.91, down 21 paise over its previous closing price. On Monday, the rupee had settled at 86.70 against the dollar. 'The Indian rupee fell by nearly 20 paise on a jump in the US dollar index and a surge in crude oil prices. The US dollar rallied on optimism over the US-EU trade deal. However, a bounce back in the domestic equities after falling sharply over the past three sessions cushioned the downside," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. Forex traders said investors traded cautiously awaiting the outcome of India-US trade talks ahead of the August 1 deadline. 'The lingering trade deal between India and the US may continue to weigh on the rupee. Rising crude oil prices and foreign outflows may also pressurise the rupee. FIIs have offloaded stocks worth nearly Rs 37,000 crore till date, the biggest selling since February 2025," Choudhary added. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. 'Month-end dollar demand from OMCs and importers may further pressurise the rupee," Choudhary said, adding, 'investors may remain cautious ahead of the US Federal Reserve and Bank of Japan's monetary policy decision this week." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.13 per cent to 98.75. Brent crude, the global oil benchmark, went up by 0.46 per cent to USD 70.36 per barrel in futures trade, as developing trade agreements eased tariff concerns and boosted future energy demands. In the domestic equity market, the 30-share BSE Sensex advanced 446.93 points, or 0.55 per cent, to close at 81,337.95, while the Nifty rose 140.20 points, or 0.57 per cent, to settle at 24,821.10. Foreign institutional investors (FIIs) offloaded equities worth Rs 4,636.60 crore on a net basis on Tuesday, according to exchange data. Swipe Left For Next Video View all Dilip Parmar, Research Analyst, HDFC Securities, said the rupee's depreciation was primarily driven by sustained selling by foreign funds, coupled with a recovery in the US dollar and an increase in crude oil prices. 'Market participants are now closely monitoring the upcoming FOMC monetary policy meeting and the deadline for tariff negotiations, as these events are expected to provide further direction for the rupee. For the USD/INR pair, the immediate support level is seen at 86.30, while resistance is seen at 87.05," Parmar said. PTI DRR HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds Rupee hits over four-month low; ends 21 paise down at 86.91 against US dollar Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Read More
Time of India
2 minutes ago
- Time of India
CAG flags financial loss due to SAIL's poor inventory management from 2016-23
According to the CAG, while all the five integrated steel plants of SAIL have implemented SAP-ERP system, the same was yet to be implemented in all units or offices of SAIL. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Comptroller and Auditor General ( CAG ) of India has flagged discrepancies in inventory handling practices of Steel Authority of India Limited SAIL ) from 2016-2023. According to the auditor's report tabled in the Rajya Sabha on Tuesday, this led to loss of time and money at the public sector undertaking during this found that faulty price fixation adopted by SAIL in the agreement for sale of Blast Furnace slag (a byproduct of steel making) was detrimental to the financial interest of the Company. Sale of slag at a lower rate resulted in inability to earn revenue of Rs 441.40 crore during 2015 to 2023.'Market price of slag was between Rs 500 and Rs 1,220 per tonne during 2009-14, whereas the rate provided in the agreement was between Rs 336.65 and Rs 444.24 per tonne,' a CAG statement said. The slag in question was provided by Bokaro Steel Plant during this another anomaly, India's supreme audit institution said SAIL had not fixed any benchmark for inventory carrying cost per tonne of raw material, semi-finished material and finished goods. This is even though on an average, SAIL had an inventory of Rs 21,698 crore during 2016-17 to 2022-23 which constitutes about 67 per cent of its current also failed to maintain stock levels of raw materials like iron ore, coke, sinter due to which Blast Furnace was put under off-blast state resulting in inability to produce Hot Metal of 9.32 lakh tonnes and to earn potential revenue of Rs 1,231.52 crore at Rourkela, Bokaro and Durgapur Steel Plants, the auditor to the CAG, while all the five integrated steel plants of SAIL have implemented SAP-ERP system, the same was yet to be implemented in all units or offices of SAIL. 'The IT systems in each Plant were running in isolation which led to various control issues like non-availability of real time data on stock of raw materials, absence of centralised vendor database and manual intervention in SAP-ERP system,' the auditor these, the stock verification report was not prepared as prescribed in the guidelines on stock verification of the Central Marketing Organisation. 'In 46 out of 49 stockyards, stock verification was not conducted on half yearly basis, as prescribed in the policy, in one or more years during 2016-17 to 2022-23,' the CAG said while adding in 10 stockyards, stock verification had not been conducted at all during this period.
Time of India
32 minutes ago
- Time of India
Supply of ethanol-blended petrol jumps more than 4-fold in four years
The ethanol-blended petrol supplied at the retail outlets of the public sector oil companies such as Indian Oil and Bharat Petroleum has shot up from 173 crore litres in Ethanol Supply Year (November-October) 2019-20 to more than 700 crore litres in Ethanol Supply Year (ESY) 2023-24, while there has also been a corresponding increase in blending percentage from 5 per cent in ESY 2019-20 to approximately 14.6 per cent in ESY 2023-24, the Parliament was informed on Monday. Further, for the ongoing Ethanol Supply Year (ESY) 2024-25, as of June 30, 2025, a total of 661.06 crore litres of ethanol has been blended with petrol, achieving a blending percentage of 18.93 per cent, Minister of State for Petroleum and Natural Gas Suresh Gopi told the Rajya Sabha in a written reply to a question. During the month of June 2025, ethanol blending of 19.92 per cent has been achieved. All retail outlets of Public Sector Oil Marketing Companies across the country, having petrol selling facilities, dispense E20 petrol, the minister added. Highlighting India's achievements in the biofuels sector, Petroleum Minister Hardeep Singh highlighted that nearly 20 per cent ethanol blending has been achieved in 2025, a significant rise from 1.53 per cent in 2014. This accomplishment has resulted in Rs 1.4 lakh crore in foreign exchange savings, substitution of 238 lakh metric tonnes of crude oil, a reduction of 717 lakh metric tonnes in CO2 emissions, and direct payments of Rs 1.21 lakh crore to farmers. Farmers have gained as the sugar mills that are also producing ethanol can now afford to pay higher prices for sugarcane and clear pending dues in time. Encouraged by the performance, the government decided to advance the target of 20 per cent ethanol blending in petrol from 2030 to ESY 2025-26. In order to achieve the 20 per cent ethanol blending target by ESY 2025-26, the government has taken several measures which include a detailed Roadmap for Ethanol Blending in India, expansion of feedstock for the production of ethanol, remunerative price for procurement of ethanol under the EBP Programme, lowering of the GST rate to 5 per cent on ethanol for EBP Programme, and an amendment in the Industries (Development & Regulation) Act for free movement of ethanol across states for blending. An interest subvention scheme for enhancement and augmentation of ethanol production capacity in the country; regular floating of Expression of Interest (EoI) by Public Sector oil marketing companies for procurement of ethanol has also been undertaken.
