France coalition puzzle after Left blocks Right

French Voters divided their legislature among left, center and far right, with no single political faction getting even close to the majority needed for form a government. The risk of paralysis loomed Monday for the European Union's second-largest economy.

President Emmanuel Macron gambled that his decision to call snap elections would give France a "moment of clarification," but the outcome showed the opposite, less than three weeks before the start of the Paris Olympics thrusts the country on the international stage.

A hung parliament is an unknown territory for modern France. Political deadlock could rattle markets and have far-ranging implications for the war in Ukraine, global diplomacy and Europe's economic stability.

Modi Moscow message: Deepen ties, no solution on battlefield

In the inaugural bilateral visit of his third term and his first to Russia since it invaded Ukraine in February 2022, Prime Minister Narendra Modi landed in Moscow with a clear message that New Delhi sought to "play a supportive role for a peaceful and stable region" and both sides were committed to deepening their "special and privileged strategic partnership" in "futuristic areas" of co-operation.

Tracking accused out on bail violates right to privacy: SC

The Supreme Court ruled that imposing any bail condition which enables the police/investigation agency to track every movement of the accused released on bail by using any technology or otherwise would undoubtedly violate the right to privacy guaranteed under Article 21.

A bench of Justices AS Oka and Ujjal Bhuyan deleted the condition imposed by a trial court requiring a Nigerian national facing charges under the NDPS Act 1965 to "drop a PIN on the google map to ensure that" his "location is available to the Investigation Officer of the case".

The SC said that it "gives an impression that the condition will enable the first respondent Narcotics Control Bureau (NCB) to monitor the movements of the accused on a real time basis, which will be violative of the right to privacy guaranteed under Article 21 of the Constitution".

TN to amend new criminal laws, forms panel to suggest changes

The Tamil Nadu government has ordered the setting up of a committee to study the recently rolled-out criminal laws and recommend changes to suit the state's law and order needs, officials said.

At a meeting with the state's Home and Law departments, Chief Minister MK Stalin ordered that the one-member committee, to be headed by retired High Court judge M Satyanarayanan, must submit its report on the three new laws, along with the amendments, in one month.

The Bharatiya Nyaya Sanhita, the Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya

Adhiniyam, which replaced the IPC, CrPC and Evidence Act, came into effect on July 1.

India to sign, ratify High Seas Treaty: Minister

India has decided to sign and ratify the High Seas Treaty, a global agreement for conservation and protection of biodiversity in the oceans, that is often compared to the 2015 Paris Agreement in its reach and impact.

The High Seas Treaty, also known as the Agreement on Biodiversity Beyond National Jurisdictions (BBNJ), was negotiated in 2023. 

"India remains committed and proactive to the global cause of environmental conservation and sustainable development. We will be signing (the BBNJ Agreement) and are propitious of subsequently ratifying it through the necessary legislative processes," Science and Technology Minister Jitendra Singh said. 

"The government is aligned to scientific progress, strengthening international collaboration, and promoting governance, transparency, accountability and the rule of law,".

TRADE POLICY NEEDS A RESET

India's active participation in the WTO discussions is crucial, even for successful bilateral engagement subsequently with major markets. 

Participation in these discussions will also allow India to build a leadership position in the Global South. 

The country's lack of engagement, in any case, has not deterred other interested nations from forging a consensus among major economies.

Employment rate rises 6% provisionally in FY24 from 3.2% in FY23: RBI data

The Country's employment rate grew by 6 per cent in the fiscal year ended March 31, 2024 from a growth of 3.2 per cent in 2022-23, according to the Reserve Bank of India's data.

Employment in the country increased by 4.67 crore to 64.33 crore (provisional) in the fiscal year 2023-24, from 59.67 crore in 2022-23, the RBI's Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] database showed.

In the year ended 2022-23, employment in the country stood at 57.75 crore, compared to 56.56 crore in 2021-22, the RBI data showed.

The database covers 27 industries comprising the entire Indian economy. The database also provides these estimates at the broad sectoral levels (agriculture, manufacturing and services) and at the all-India levels.

MSME bodies urge RBI to double threshold period for SMA-2 stressed loan accounts

A loan account turns into non-performing assets, banks are required to identify incipient stress in the account by creating a sub-asset category called special mention accounts (SMA).

An account is transferred to this category once the earliest signs of sickness or irregularities in loan repayment are identified.

Govt reopens application window for white goods PLI

The Government on Monday reopened the window for fresh applications from companies willing to invest under the production-linked incentive (PLI) scheme for white goods and shifted to a system of quarterly processing of incentive claims for the sector. This will be the third round of applications under the scheme.

The PLI scheme for white goods is to run from 2021-22 to 2028-29, with an outlay of Rs 6,238 crore. 

In the third and latest round of applications, existing beneficiaries can also apply if they propose to invest more by way of switching over to higher target segments of their group companies applying under different target segments, a statement by the Ministry of Commerce and Industry said.

PLI for white goods, which includes air-conditioners and their parts and LED lights, is run by the Department for Promotion of Industry and Internal Trade (DPIIT).