ModiWatch: Prime Minister Narendra Modi met Assam Chief Minister Himanta Biswa Sarma to discuss developmental issues and confirmed his participation in the Assam Investor and Infrastructure Summit and Mega Jhumur Performance in February 2025.

Parliamentary affairs

Parliament to resume functioning after stalemate ends: The ruling Bharatiya Janata Party (BJP) and opposition reached a breakthrough to end the parliamentary deadlock, with discussions on the Constitution set for December 13–14 in Lok Sabha (Lower House) and December 16–17 in Rajya Sabha (Upper House).

Opposition protests disrupt coastal shipping bill proceedings: On Monday, both Lok Sabha and Rajya Sabha adjourned as opposition protests stalled proceedings, delaying the introduction of the Coastal Shipping Bill, 2024.

Base year for GDP calculation updated to 2022-23: In a written reply in the Rajya Sabha, the Minister of State for Statistics and Programme Implementation, Rao Inderjit Singh, detailed plans to update the GDP base year from 2011-12 to 2022-23, marking the first revision in over a decade.

GST Council to consider tax cut on life and health insurance: In a written reply in the Lok Sabha, Finance Minister Nirmala Sitharaman stated that the Goods and Services Tax (GST) Council may reduce the current 18% GST rate on life and health insurance premiums, potentially lowering costs for policyholders; discussions are set for the 21 December.

Domestic aviation market climbs to third-largest globally: Minister of State for Civil Aviation Murlidhar Mohol told the Rajya Sabha that the domestic aviation market is now the world's third-largest, with plans for international aviation hubs, Maintenance, Repair and Overhaul (MRO) facilities, and a possible extension of the Regional Connectivity Scheme, RCS-UDAN.

Putin to visit India in 2025

Kremlin confirms Putin’s 2025 India visit: Russian President Vladimir Putin is set to confirm his first trip since 2022 to meet Prime Minister Narendra Modi under the nations' annual leadership meeting framework, the Kremlin announced.

Italy and India propose innovation and space partnership: Italy’s Minister Adolfo Urso and India’s Minister Jitendra Singh proposed an Indo-Italian Innovation and Incubation Exchange Programme to link startups, academia, and policymakers, with a focus on space technology and advanced manufacturing.

Trump rhetoric sparks trade review: India’s commerce ministry is reviewing trade ties with the US after President-elect Donald Trump criticised India’s import tariffs and warned BRICS nations against undermining the US dollar.

Subbarao doubts Trump’s 100% tariff warning for BRICS: Former Reserve Bank of India (RBI) Governor Duvvuri Subbarao questioned the feasibility of Donald Trump's threat to impose 100% tariffs on BRICS nations shifting away from the US dollar, citing political and economic hurdles for a BRICS common currency.

Govt drops windfall tax

Windfall tax on oil scrapped after review: The government has scrapped the windfall tax on aviation turbine fuel (ATF), crude oil, petrol, and diesel, along with the Road and Infrastructure Cess (RIC) on fuel exports, citing reduced global crude prices and industry concerns.

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Satcom licence relaxation could aid Starlink and Amazon Kuiper: The government is considering relaxing security rules for satellite communication licences, potentially paving the way for Elon Musk’s Starlink and Jeff Bezos’ Amazon Kuiper to enter the market.

$120 million scheme to localise drone production: India plans a $120 million Production-Linked Incentive (PLI) 2.0 scheme to cut drone imports and expand local manufacturing, BusinessLine reports.

Revenue secretary outlines plans for trade facilitation and automation: India aims to become a trusted global trade hub with automated ports, expanded authorised economic operator (AEO) programmes, and new mutual recognition agreements (MRAs) with partners like Brazil, Revenue Secretary Sanjay Malhotra said at the Global AEO Conference.

Rafale jets and Scorpene submarines deal with France nearing finalisation: Navy Chief Admiral Dinesh Tripathi said the procurement of 26 Rafale-M (naval variant) jets and three Scorpene submarines from France is expected to be finalised next month.

India aims for 6.5%-7% growth

Government eyes 6.5%-7% GDP growth for FY25: Economic Affairs Secretary Ajay Seth stated that the government is working towards achieving the FY25 gross domestic product (GDP) growth target of 6.5%-7%, with acceleration expected in the year's second half despite a weaker-than-expected Q2 performance.

Manufacturing growth slows as price pressures rise: Manufacturing activity eased to an 11-month low in November, with the HSBC Manufacturing Purchasing Managers Index (PMI) at 56.5, reflecting slower domestic demand and rising input costs, though export orders hit a four-month high.

Delhi Today: Sunny.

Strict air pollution measures to continue in national capital: The Supreme Court declined to relax Stage 4 of the Graded Response Action Plan (GRAP) for air pollution until a downward trend in the Air Quality Index (AQI) is observed.

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