'In the first 2 minutes, I'll know…': Trump says he will 'feel out' Putin on ending Ukraine war
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Time of India
28 minutes ago
- Time of India
Trump-Putin Summit In Danger? Russia Warns Of Ukraine's Deadly Provocation With Missiles, Drones
/ Aug 13, 2025, 07:01AM IST Russia warns of a major Ukrainian provocation ahead of the Trump-Putin summit. Moscow alleges Ukraine plans attacks to sabotage peace talks and blame Russia. The ministry fears the move will derail diplomacy and worsen the conflict.#russia #ukrainewar #ukraine #putin #zelensky #russiadefenceministy #lavrov #trump #usa
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Business Standard
28 minutes ago
- Business Standard
Will explore more, no compromise on farmers' interests: Shivraj on tariffs
Union Agriculture Minister Shivraj Singh Chouhan on Tuesday lauded Prime Minister Narendra Modi for his determination to protect the interests of farmers in the wake of tariff pressures and said it has been decided that there will be no compromise with the interests of the farming community. Speaking at an event in Subrahmanyam Hall in New Delhi, Chouhan emphasised that India's population is its strength and the country will also find new markets. In a veiled reference to the United States imposing 50 per cent tariff on India and apparent pressure in trade talks for greater access to India's agriculture and dairy sectors, Chouhan said there is vast difference in the size of landholdings and agricultural practices and cost of production in the two countries. "The whole country was apprehensive, know how much land they hold: 10,000 hectares, 15,000 hectares. Meanwhile, our farmers have land ranging from one acre to three acres, with many having just half an acre. We have a little land. Is this competition fair? You use GM seeds. There are different kinds of perceptions about our GM. The whole country was apprehensive, what will happen? They want their soybean to come here, their wheat, maize, rice," the Agriculture Minister said. "The cost of production per hectare is less there because GM seeds and other things are used, so the yield is more and the cost is less. The cost of production per hectare here is much higher than there, and if it had come openly, the prices of the crops here would have fallen further in our country. Where would the farmer go? Therefore, it was decided that no matter what happens, there will be no compromise with the interests of the farmer," he added. Chouhan referred to PM Modi's remarks that no matter how much loss he personally incurs, there will be no compromise with interests of farmers. "Prime Minister Narendra Modi said recently that no matter how much loss I personally incur, but the interests of farmers will not be compromised. This is the voice of India, voice of brothers, be assured. If there is some difficutly, we will see. We will find new markets, and India itself is such a big market that our things will be consumed here. The population of the whole of Europe is 50 crore, America's is 30 crore, our population of 144 crore is not our weakness; it is our strength. That is why this decision was taken. It is also testing time, we don't have budge, bow..." Chouhan said. US imposed 25 per cent reciprocal tariffs on Indian goods last month and increased it to 50 per cent over import of Russian oil. Chouhan also spoke of the government's determination to provide more resources to agriculture. Chouhan also dismissed nuclear sabre-rattling by Pakistan Army Chief Asim Munir and said India has decided to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. "Today, as a farmer, I want to congratulate our Prime Minister Narendra Modi, I want to thank him. The first thing is the Indus Water Treaty. Now the neighbour is giving threats from America. India is not going to be afraid of any threat. The whole world should hear that the Indus Treaty has been cancelled, and our water will be used for the farmers. This is Modi ji's decision. Such an unjust treaty, the rivers, land, water are ours and the canal will be built in Pakistan. We gave 80% of the water, and Nehru ji also gave money to build the canal there; this was a sin. Now this will not be allowed at any cost; our water will be used for our own purposes," Chouhan said. Referring to Pakistan's support for cross-border terrorism against India, Chouhan said PM Modi has made it clear that "blood and water cannot flow together". He said the government would soon bring in a new law to take strict action against those producing fake fertilisers and chemicals. He said various schemes for farmers' welfare are being advanced on priority and digital payment of insurance amounts was made to farmers on Monday from Jhunjhunu in Rajasthan under the Pradhan Mantri Fasal Bima Yojana. The Union Minister highlighted PM Modi's 'Nation First' resolve and emphasized that the Prime Minister has always taken strong, bold, nation-centric decisions, for which the country will forever remain indebted.
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Business Standard
28 minutes ago
- Business Standard
US national debt reaches record $37 trillion, Treasury Department reports
The US government's gross national debt has surpassed $37 trillion, a record number that highlights the accelerating debt on America's balance sheet and increased cost pressures on taxpayers. The $37 trillion update is found in the latest Treasury Department report issued Tuesday which logs the nation's daily finances. The national debt eclipsed $37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office's January 2020 projections had gross federal debt eclipsing $37 trillion after fiscal year 2030. But the debt grew faster than expected because of a multi-year Covid-19 pandemic starting in 2020 that shut down much of the US economy, where the federal government borrowed heavily under then-President Donald Trump and former President Joe Biden to stabilise the national economy and support a recovery. And now, more government spending has been approved after Trump signed into law Republicans' tax cut and spending legislation earlier this year. The law set to add $4.1 trillion to the national debt over the next decade, according to Congressional Budget Office estimates. Chair and CEO of the Peter G. Peterson Foundation, Michael Peterson said in a statement that government borrowing puts upward pressure on interest rates, adding costs for everyone and reducing private sector investment. Within the federal budget, the debt crowds out important priorities and creates a damaging cycle of more borrowing, more interest costs, and even more borrowing. Wendy Edelberg, a senior fellow in Economic Studies at the Brookings Institution said Congress has a major role in setting in motion spending and revenue policy and the result of the Republicans' tax law "means that we're going to borrow a lot over the course of 2026, we're going to borrow a lot over the course of 2027, and it's just going to keep going." The Government Accountability Office outlines some of the impacts of rising government debt on Americans - including higher borrowing costs for things like mortgages and cars, lower wages from businesses having less money available to invest, and more expensive goods and services. Peterson points out how the trillion-dollar milestones are piling up at a rapid rate. The US hit $34 trillion in debt in January 2024, $35 trillion in July 2024 and $36 trillion in November 2024. We are now adding a trillion more to the national debt every 5 months," Peterson said. "That's more than twice as fast as the average rate over the last 25 years. The Joint Economic Committee estimates at the current average daily rate of growth an increase of another trillion dollars to the debt would be reached in approximately 173 days. Maya MacGuineas, president of the Committee for a Responsible Federal Budget said in a statement that hopefully this milestone is enough to wake up policymakers to the reality that we need to do something, and we need to do it quickly. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
