Food subsidy expenditure forms over 50% of India’s total subsidy spending in FY 2024-25, with Rs 1.64 lakh crore allocated for April-December 2024, up from the previous year. Fertilizer subsidy spending decreased slightly to Rs 1.36 lakh crore. Non-debt capital receipts declined, and FDI inflows weakened, highlighting revenue collection challenges and increased foreign investor outflows.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The Justice Department has concluded its investigation into Federal Reserve chair Jerome Powell. This decision removes a significant obstacle to the confirmation of Kevin Warsh,