The petroleum ministry has denied any plan to raise petrol or diesel prices from May 1, pushing back against widespread speculation of an imminent hike. A ministry official made the clarification directly, calling out the rumours that had already started changing consumer behaviour on the ground. The speculation had gained traction after key state elections concluded, a period when fuel price changes are often expected since governments typically avoid hikes during active campaign seasons. That pattern appears to have triggered fears this time, even without any official signal. The rumours were enough to cause panic buying and long queues at fuel stations in several areas, showing how quickly pricing expectations can affect real-world demand. Fuel prices in India are set by state-run oil marketing companies and have been held steady for an extended period. The denial puts a floor under the immediate anxiety, but watch for any official revision to retail fuel pricing in the weeks ahead, particularly if global crude prices shift or subsidy pressures on oil companies build further.
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.
