Here are the latest news highlights from India:
- National Budget Projections: The upcoming national budget is anticipated to have significant allocations for rural development, affordable housing, and electric vehicle subsidies. Consumer goods, real estate, and auto sectors are expected to benefit, while there might be changes in capital gains tax impacting equities and mutual fund investments (Reuters).
- Paddy Subsidies and Environmental Impact: A study revealed that massive subsidies for paddy cultivation have made it the most profitable crop in India, despite its negative ecological impact on states like Punjab and Haryana. This has discouraged farmers from shifting to more sustainable crops like pulses (Hindustan Times).
- Controversial Orders in Uttar Pradesh: Chief Minister Yogi Adityanath has doubled down on a controversial order requiring eatery owners’ names to be displayed along the Kanwar Yatra route. This order has faced significant backlash from various quarters (Hindustan Times).
- Electric Vehicle Adoption: India has allocated significant subsidies to promote electric vehicle adoption, benefiting companies like Tata Motors and Ola Electric. The continuation of these subsidies is crucial for the growth of the EV sector (Reuters).
- Clean Air Funding: Most of India’s clean air funding has been directed towards managing road dust, with limited allocation for controlling combustion-related pollution. This approach is part of the National Clean Air Programme (NCAP) targeting particulate pollution in 131 cities (Hindustan Times).