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India plans to lower budget gap by at least 50 bps, raise capital spending as much as 20% in FY25 – sources

NEW DELHI, Jan 11 (Reuters) – India is planning to lower its budget deficit by at least 50 basis points in 2024/25 from this year’s target of 5.9% of gross domestic product (GDP), while also looking to raise capital spending by as much as 20%, two government officials said. Shrinking the fiscal deficit and yet at the same time increasing capital spending will depend on an increase in revenues and efforts to curb subsidies, said Devendra Pant, an economist at India Ratings. Moves to cut welfare spending and subsidies would be unusual for a government facing a national election in

Ecuador president says country is at war with drug gangs

Quito, (Reuters): Ecuador President Daniel Noboa said on Wednesday his country was “at war” with drug gangs who are holding prison guards hostage, amid a dramatic surge in violence that saw gunmen briefly take over a TV live broadcast and explosions in multiple cities. Noboa on Tuesday named 22 gangs as terrorist organizations, making them official military targets. The president took power in November pledging to tackle a growing security problem caused by a rise in drug-trafficking gangs transporting cocaine through Ecuador. “We are at war and we cannot cede in the face of these terrorist groups,” Noboa told radio

A one-on-one debate between Haley and DeSantis could help decide the Republican alternative to Trump

Election 2024: Haley, DeSantis, and the GOP's Shifting Landscape

Waukee, Iowa (AP): After spending much of the Republican presidential primary flanked by lower-polling rivals, Nikki Haley and Ron DeSantis will be alone on the debate stage Wednesday for the first time as they wage an increasingly contentious push to become the primary alternative to Donald Trump. The stakes are high for both Haley, the former U.N. ambassador, and DeSantis, the Florida governor. They hope that a strong debate performance in Iowa will lift their campaigns in the final days before Monday’s caucuses, where a strong showing could provide much-needed momentum as the campaign for the GOP presidential nomination intensifies.

“Grossest of contempt”, says Supreme Court on illegal custody of businessman despite bail order

New Delhi, Jan 10 (PTI) Terming as “grossest of contempt” the police remand of a Gujarat businessman after it had granted him anticipatory bail, an exasperated Supreme Court on Wednesday issued notice to police officials and a judicial magistrate of Surat and ordered them to be present before it on January 29. A bench of Justices BR Gavai and Sandeep Mehta, which had allowed anticipatory bail to Surat resident Tusharbhai Rajnikantbhai Shah in a cheating case, got irked when it was informed that the businessman was remanded in policy custody, and allegedly threatened and beaten to extort Rs 1.65 crore

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