Weekly News Platter
The Economic Times

Weekly News Platter

13 Jun, 2026, 06:03PM IST, PTI


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In case you had a busy week, these are the top stories you need to get caught up to speed...
Is India's economic growth real? Raghuram Rajan says something is offIs India's economic growth real? Raghuram Rajan says something is off
Former RBI Governor Raghuram Rajan questions India's strong economic growth figures, citing weak corporate investment and declining foreign capital inflows. He argues these factors are difficult to reconcile with official data, suggesting a disconnect between headline numbers and business behavior. Rajan also highlights the lack of a clear economic roadmap and warns of vulnerabilities from the Middle East conflict. Read more
Inflation seen at 5% in FY27, 50-75 bps rate hikes likely as food and fuel risks build: ReportInflation seen at 5% in FY27, 50-75 bps rate hikes likely as food and fuel risks build: Report
Inflation is set to climb to 5.0 percent in FY27. Upside risks persist due to the West Asia conflict and a potential below-normal monsoon. ICICI Bank Global Markets anticipates policy rate hikes of 50-75 basis points. Food inflation is accelerating, with vegetables seeing a significant jump. Core inflation is also firming up. Energy prices are rising with global crude. Read more
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Tata's Apple iPhone factory in Tamil Nadu may have to shut down over farmland water contaminationTata's Apple iPhone factory in Tamil Nadu may have to shut down over farmland water contamination
An Indian pollution regulator has accused Tata Electronics, a key supplier for Apple's iPhones, of contaminating groundwater near its Hosur factory. The regulator found wastewater discharge from the plant polluted farmland wells. Tata faces a potential shutdown unless it provides a satisfactory explanation. This adds to recent issues faced by Apple's Indian supply chain. Read more
EV demand surges in India as fuel prices rise; Maruti, Mercedes-Benz face delivery delaysEV demand surges in India as fuel prices rise; Maruti, Mercedes-Benz face delivery delays
Electric car demand is surging across India. Manufacturers are unable to meet this sudden rise, causing wait times of up to three months for popular models. This shift is driven by increased fuel prices. Companies like Maruti, Mercedes-Benz, and BMW are experiencing unprecedented interest in their electric vehicles. Supply chain issues are now limiting production more than customer interest. Read more
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Elon Musk net worth tops combined wealth of next 4 billionaires after historic SpaceX debutElon Musk net worth tops combined wealth of next 4 billionaires after historic SpaceX debut
SpaceX’s blockbuster stock market debut propelled Elon Musk’s net worth above $1 trillion for the first time. Strong investor demand pushed the company’s valuation past $2 trillion, cementing Musk’s position as the world’s richest individual by a wide margin. Read more
IPL: Foreign players auctioned, paid, then unavailable? BCCI has a message for teamsIPL: Foreign players auctioned, paid, then unavailable? BCCI has a message for teams
The BCCI will not mediate player availability for the IPL, leaving it to franchises and players. Concerns over overseas stars pulling out due to injuries or national duty persist. Meanwhile, the board plans a gradual auction purse increase and eyes an early March start for the IPL post-2027 to accommodate more games, considering global cricket schedules and viewer fatigue. Read more
Air India plans to downsize with owner Tata balking at lossesAir India plans to downsize with owner Tata balking at losses
Air India is reportedly deferring aircraft deliveries, cutting flights, and postponing expansion plans following instructions from owner Tata Group to focus on reducing significant losses. This strategic shift aims to stabilize operations and implement cost-cutting measures, impacting a previously ambitious growth agenda. Read more
Senior citizens FD interest rates up to 8.3%: SBI, HDFC Bank, PNB, ICICI Bank, Axis Bank and moreSenior citizens FD interest rates up to 8.3%: SBI, HDFC Bank, PNB, ICICI Bank, Axis Bank and more
Highest FD interest rate: Senior citizens seeking lucrative returns on their savings can now explore attractive fixed deposit options. Small finance banks like Unity SFB and Shivalik SFB are leading the pack, offering an impressive 8.3% interest rate on FDs for this demographic. This presents a significant opportunity for retirees to boost their earnings. Read more
India waives excise duty on petrol with higher ethanolIndia waives excise duty on petrol with higher ethanol
India's government is giving consumers a break by waiving excise duty on petrol. This move is tied to the increased use of ethanol blended into the fuel, encouraging a greener approach to transportation and potentially lowering prices at the pump for everyone. Read more
India appoints Lt Gen Dhiraj Seth as next Army ChiefIndia appoints Lt Gen Dhiraj Seth as next Army Chief
Lieutenant General Dhiraj Seth will become the next Chief of the Army Staff on June 30, 2026. He succeeds General Upendra Dwivedi. Lt Gen Seth currently serves as the Vice Chief of the Army Staff. He has a distinguished career spanning nearly four decades. His extensive experience includes command and strategic roles. He is a highly decorated officer. Read more
Delhi to Siliguri in 6 hours? Railways have a Rs 16 lakh crore bullet train plan to connect major citiesDelhi to Siliguri in 6 hours? Railways have a Rs 16 lakh crore bullet train plan to connect major cities
India is embarking on a massive high-speed rail project. Seven dedicated corridors are planned, aiming to slash travel times between major cities. The Delhi-Varanasi and Varanasi-Siliguri routes are key proposals. This initiative will connect western, northern, southern, and eastern India. Indigenous bullet train technology is also advancing, with trial runs set for 2027. Read more
Europe rolls out new migration system: Here's what you need to knowEurope rolls out new migration system: Here's what you need to know
The EU's new Pact on Migration and Asylum is now in effect, introducing mandatory screening for irregular arrivals and border asylum procedures for specific applicant categories. This reform aims to harmonize asylum processing, speed up decisions, and establish a mandatory solidarity mechanism to share responsibility among member states during migration surges. Read more
India's productivity gap with China widens despite strong GDP growth; manufacturing leap still missing: ReportIndia's productivity gap with China widens despite strong GDP growth; manufacturing leap still missing: Report
India's labour productivity gap with China has widened significantly since 2000, despite strong economic growth. The country has yet to achieve an industry-led productivity transformation seen in peers like China and South Korea. Structural constraints, economic disruptions, and the pandemic have hampered progress, with a need for deeper reforms beyond current initiatives. Read more
Emirates to screen every FIFA World Cup 2026 match on flightsEmirates to screen every FIFA World Cup 2026 match on flights
Emirates will broadcast every FIFA World Cup 2026 match live onboard its flights via the Sport 24 channel. Coverage begins with the opening ceremony on June 11 and concludes with the final on July 19. Passengers can also catch other major sporting events, including the NBA Finals and Formula 1 races, live during their travels. Read more
US 'specifically' asked India to buy Russian oil in 2022, says EAM JaishankarUS 'specifically' asked India to buy Russian oil in 2022, says EAM Jaishankar
India's External Affairs Minister S. Jaishankar stated India purchased Russian oil after the Ukraine war began in 2022. He explained the oil was available and affordable. The United States had specifically requested India continue buying Russian crude. This action aimed to stabilize global energy markets. India's decision was driven by market realities, not politics. Read more
FIFA Nora Fatehi fee: How much did Nora Fatehi charge for her World Cup 2026 performance?FIFA Nora Fatehi fee: How much did Nora Fatehi charge for her World Cup 2026 performance?
Nora Fatehi’s FIFA World Cup 2026 opening ceremony performance: Nora Fatehi captivated audiences with a high-energy performance at a FIFA World Cup 2026 opening event in Canada, joining music producers WajDream and Sanjoy. Her dynamic act, featuring a bold red outfit and extensive dancers, quickly gained traction online. Read more
CBI finds no evidence of corruption in case involving Nirav Modi; transferred to magistrateCBI finds no evidence of corruption in case involving Nirav Modi; transferred to magistrate
A special CBI court in Mumbai transferred a fraud case against Nirav Modi to a magistrate's court. The CBI stated that corruption charges against Punjab National Bank officials could not be proven. The case, involving Rs 321.88 crore, will now proceed against private individuals only. Read more
China company secures Kenya airport deal after Adani falloutChina company secures Kenya airport deal after Adani fallout
The East African nation awarded China Communications Construction Co. an engineering, procurement and construction contract to update and expand the Jomo Kenyatta International Airport, the people said asking not to be identified as they are not authorised to discuss the matter. Read more
'Abhishek Banerjee is like my son, duty of father to forgive': Kalyan Banerjee strike reconciliatory note'Abhishek Banerjee is like my son, duty of father to forgive': Kalyan Banerjee strike reconciliatory note
TMC MP Kalyan Banerjee has softened his stance towards nephew Abhishek Banerjee, calling him his son and emphasizing paternal forgiveness. This comes amid reports of internal party rifts and CID searches at Abhishek Banerjee's residence. The party denies any merger with Congress. Political turmoil intensifies with an FIR against Mamata Banerjee over alleged communal remarks. Read more
Assam Cabinet decides to stop Aadhaar issuance to those aged above 18: CM Himanta Biswa SarmaAssam Cabinet decides to stop Aadhaar issuance to those aged above 18: CM Himanta Biswa Sarma
Assam Chief Minister Himanta Biswa Sarma announced that Aadhaar cards will not be issued to individuals above 18 to prevent illegal immigrants from obtaining the document. This measure, aimed at curbing illegal immigration from Bangladesh, will be fully implemented from April 1, 2027, though exceptions will be made for tea garden community and Scheduled Tribes members until then. Read more

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