ModiWatch: Prime Minister Narendra Modi praised the passing of amendments to the Oilfields (Regulation and Development) Act 1948 in the Rajya Sabha, calling it an important legislation to strengthen energy security and drive economic growth.

Parliamentary affairs

India passes oilfields amendment bill to attract foreign investment: The Rajya Sabha (Upper House) has passed the Oilfields Amendment Bill, which aims to decriminalise provisions, ensure policy stability, and provide a single licence for petroleum operations to attract foreign investors into the oil and gas sector. 

Lok Sabha passes bill to amend banking laws and governance rules: The Lok Sabha has passed the Banking Laws (Amendment) Bill, which proposes to amend banking regulations and increase the number of nominees per bank account from one to four. 

Civil Aviation Bill 2024 debated in Rajya Sabha: The Rajya Sabha today discussed the Bharatiya Vayuyan Vidheyak 2024, which aims to replace the Aircraft Act, 1934, with a new legal framework for aircraft design, manufacturing, and maintenance. The debate will continue today, with concerns raised over drone regulations and high airfares.

Opposition stages walkout in Lok Sabha: Opposition MPs, including Leader of Opposition Rahul Gandhi, staged a walkout from the Lok Sabha (Lower House) over the recent violence in Uttar Pradesh’s Sambhal.

Opposition MPs demand parliamentary probe into Adani scandal: Opposition lawmakers staged a protest in Parliament, calling for a joint parliamentary committee investigation into the Adani Group following bribery and fraud charges in the US. The allegations against Adani Group executives have revived calls for accountability from the ruling government.

Beijing, New Delhi shift focus after border troop pullback: India's External Affairs Minister S Jaishankar told parliament that bilateral talks with China will now address trade and travel ties cautiously after resolving a four-year military stand-off.

Longer shipping routes via Cape of Good Hope disrupt global trade, says Goyal: Commerce and Industry Minister Piyush Goyal stated in Lok Sabha that longer voyage times due to ships taking alternative routes via the Cape of Good Hope have delayed global trade, affecting Indian exports. 

Maritime Vision targets global shipping with $912 million capital investment: In a written reply in Rajya Sabha, Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, announced ₹7,571 crore ($912 million) in maritime sector investments since 2022 under Maritime India Vision 2030, with increased port capacity, faster vessel turnaround, and a 23% rise in cargo traffic.

Goa set to become major cruise and cargo hub by 2025: Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, announced in a written reply to the Rajya Sabha that the government is developing an international and domestic cruise terminal and ferry terminal at Mormugao Port, Goa, with completion targeted for March 2025.

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Winter Session Day 7: Banking Bill Passed in Lok Sabha, Rajya Sabha Approves Oilfields Amendment Bill

Lok Sabha The Question Hour in Lok Sabha (Lower House) progressed into a discussion on the implementation of PM-KISAN, and the disbursement of the Minimum Support Price (MSP) to farmers. The opposition argued about the MSP prices still being low. This transpired the leaders from the INDIA bloc (united opposition)

Delhi BriefingDaanish Narayan

India joins top 10 global exporters

India ranks among top 10 global exporters: The Ministry of Commerce and Industry has announced that India has become a top 10 global exporter, with sectors like petroleum oils, agrochemicals, semiconductors, and precious stones each exceeding $1 billion in exports in 2023.

India considers 25% safeguard duty to curb cheap steel imports: Commerce and Industry Minister Piyush Goyal and Steel and Heavy Industries Minister H D Kumaraswamy discussed a proposed 25% safeguard duty on steel imports to curb surging shipments from Free Trade Agreement (FTA) nations and counter Chinese overcapacity

India prepares for flexible engagement with Trump administration: Foreign Minister S Jaishankar signalled a readiness to negotiate with Donald Trump's incoming administration, acknowledging potential unpredictability in global affairs and advocating for mutually beneficial terms, amid concerns over trade policies affecting the BRICS nations.

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US approves $1.17 billion sale of MH-60R helicopters to upgrade Indian defence capabilities: The Biden administration has authorised the sale of 30 MH-60R Multi-Mission Helicopters and related equipment to India at an estimated cost of $1.17 billion, aimed at strengthening its anti-submarine warfare capabilities. 

Israel and India explore collaborative ventures in quantum, space, and AI technologies: Israel's Industry and Economy Minister Nir Barkat and India's Minister of Science and Technology Jitendra Singh discussed joint ventures in sectors like quantum computing, space, biotechnology, and AI.

RBI panel faces economic slowdown

RBI panel meets amid slowest GDP growth in seven quarters: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its December meeting today, with Governor Shaktikanta Das to announce decisions on Friday, following 5.4% GDP growth in July-September, below the projected 7%.

India and Bangladesh tighten security

New Delhi and Dhaka ramp up security for diplomatic missions: India commits to engaging with Bangladesh's Interim Government as both nations address security concerns following a breach at the Bangladesh Assistant High Commission in Agartala.

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