India's Cabinet approved a 2% increase in Dearness Allowance for central government employees and pensioners, lifting DA to a revised rate that directly raises monthly take-home pay across the federal workforce. The decision was announced Saturday and takes effect for a large cohort of salaried and retired central government beneficiaries. DA is a cost-of-living adjustment indexed to inflation, recalibrated periodically by the government to preserve real purchasing power for employees on fixed pay scales. The revision adds to the aggregate wage bill for the central government, with fiscal implications dependent on the total headcount of eligible employees and pensioners. Markets and analysts will watch whether the consumption boost from higher disposable income offsets any pressure on the fiscal deficit. Future DA revisions will hinge on underlying inflation data, making the next CPI reading a practical signal for the trajectory of further adjustments.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
