India's National Statistical Office is launching the country's first dedicated National Household Income Survey, targeting data collection from approximately 4.5 lakh households selected via a scientifically designed sampling methodology. The absence of systematic, nationally representative income data has long been a gap in India's statistical infrastructure, forcing policymakers and researchers to rely on consumption-based proxies rather than direct income measurement. The survey addresses that directly by capturing household-level income across a nationally representative sample, providing a baseline that can inform fiscal policy, welfare program targeting, and distributional analysis. The quality of the sampling methodology will determine how credibly the data can be disaggregated by region, income bracket, or household type, the metrics most relevant for subsidy calibration, tax policy design, and social sector spending decisions. Analysts and policymakers should watch for the survey's scope definitions, field timeline, and how NSO plans to handle informal income reporting, which remains the most structurally difficult variable to capture accurately in India's predominantly informal economy.
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.
