India

PM Modi (left) and Tejashwi Yadav NEW DELHI: Rashtriya Janata Dal (RJD) leader Tejashwi Yadav urged Prime Minister Modi to review reservation policies after the forthcoming caste census, emphasizing that it is just the initial step towards social justice. He highlighted the importance of using the census data for constituency delimitation and ensuring political representation for marginalized communities. Yadav also called for inclusivity in the private sector, arguing that companies benefiting from public resources should reflect the nation's social composition. Full Article

The Supreme Court has annulled JSW's acquisition of Bhushan Power & Steel, mandating its liquidation due to legal and regulatory breaches. The court dismissed JSW's Rs 19,700 crore proposal, emphasizing delayed payments and a lack of good faith. It criticized the resolution professional for failing in their responsibilities and the committee of creditors for not safeguarding the interests of creditors, adversely affecting public sector banks. Full Article

SRINAGAR: Pakistan national Meenal Ahmed Khan was reunited with her husband, CRPF trooper Munir Khan, after a J&K high court order intervened just before her deportation at the Attari border. Meenal, who married Munir in January and entered India on a tourist visa, was eligible for a long-term visa due to her marriage, prompting her lawyer to file a petition against her deportation. The court allowed her to stay in Jammu until her visa status is resolved, with the next hearing scheduled for May 14, while emphasizing the Union government's responsibility to decide on her long-term visa issuance. Full Article

Apple CEO Tim Cook announced during the company's earnings call that tariffs could increase costs by approximately $900 million in Q3, based on current global rates. He noted that Apple had limited impact from tariffs in the previous quarter and emphasized the need for caution in using this estimate for future predictions, as policy changes could alter the outcome. To mitigate tariff-related costs, Apple is diversifying its supply chain, sourcing half of its iPhones for the U.S. from India, marking a significant shift in production strategy amid ongoing trade tensions. Full Article

Maharashtra Deputy Chief Minister Ajit Pawar distanced himself from pre-election promises regarding a farm loan waiver, responding to Congress criticism of the Mahayuti government's failure to fulfill key commitments. When questioned by reporters, Pawar repeatedly denied making such assurances, despite reminders of the coalition's election promises, before leaving without further comment. Congress leader Balasaheb Thorat accused the government of neglecting farmers, while Pawar had previously stated that the state's financial condition did not allow for a loan waiver, advising farmers to pay their dues instead. Full Article

A significant change includes the increase in the reporting threshold for assets and liabilities under 'Schedule AL'. (AI image) Income Tax Return Filing FY 2024-25: The Income Tax Department has issued ITR form 3 for individuals and HUFs with business or professional income, officially notified on April 30 for Assessment Year 2025-26. Key changes include raising the reporting threshold for assets and liabilities under 'Schedule AL' from Rs 50 lakh to Rs 1 crore, introducing separate reporting for capital gains based on their timing, and allowing taxpayers to choose between two long-term capital gains tax options. Additionally, enhancements like dropdowns...

About the AuthorTOI World DeskTOI World Desk comprises a dedicated team of experienced journalists and writers who diligently cover global events to provide the latest news and diverse perspectives. Committed to accuracy and depth, they aim to keep readers informed about international affairs, delivering nuanced insights into the interconnected world. Join them in exploring the stories that shape our global narrative.Read More Full Article

Rajasthan Royals' hopes of qualifying for the IPL 2025 playoffs were dashed after a heavy 100-run defeat to Mumbai Indians, marking their eighth loss in 11 matches, which makes it impossible for them to reach the top four. Mumbai set a formidable target of 217/2, led by Ryan Rickelton's 61 and Rohit Sharma's 53, while their bowlers, including Trent Boult and Karn Sharma, dominated the Royals' batting lineup. With this victory, Mumbai climbed to the top of the table with 14 points and now needs just one more win from their remaining matches to secure a playoff spot. Full Article

About the AuthorTOI World DeskThe TOI World Desk comprises a dedicated team of experienced journalists and writers who diligently cover global events, ensuring readers receive timely and diverse news. Their commitment to accuracy and depth offers a nuanced understanding of international affairs. Join them as they explore the interconnected stories that shape our world. Full Article

MUMBAI: A study by Paisabazaar reveals that the average age of first-time credit borrowers in India has decreased by 21 years across three generations, with individuals born in the 1990s starting to borrow at age 25-28, primarily through unsecured loans. This shift from the past, where borrowing typically began at age 47 for those born in the 1960s, reflects increased accessibility to credit due to higher disposable incomes and technological advancements, such as the Jan Dhan-Aadhaar-Mobile trinity. The evolving consumer mindset now favors instant gratification over saving, resulting in a decline in the average age for home loan borrowers from...