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India Remains Fastest-Growing Major Economy with 7.7% Growth in FY26: Rajnath Singh

Rajnath
Defence Minister Rajnath Singh (file pic)

New Delhi, Jun 6 (NVI): Defence Minister Rajnath Singh on Saturday said India continues to be the world’s fastest-growing major economy despite global uncertainties, attributing the achievement to the leadership of Prime Minister Narendra Modi and the government’s reform-oriented policies.

In a post on X, Singh said the Indian economy recorded a growth rate of 7.7 per cent in the financial year 2025-26, while growth accelerated to 7.8 per cent in the fourth quarter.

“At a time when many countries are facing economic uncertainty, India continues to stand out as the world’s fastest-growing major economy,” he said.

The defence minister said the achievement reflects the strength of the government’s “Reform, Perform, Transform” approach pursued over the last 12 years.

According to Singh, under Modi’s leadership, India has successfully combined economic growth with stability, confidence, sustainability and credibility.

He said the prime minister’s focus on innovation, infrastructure development and entrepreneurship, coupled with his leadership during challenging global circumstances, has helped transform India into a resilient and globally respected economic power.

“As India moves towards the goal of Viksit Bharat, this growth story is creating new opportunities and strengthening the aspirations of 140 crore Indians,” Singh said. (NVI)

Indian Army Marks World Environment Day with Awareness Drives in Kupwara, Uri

Srinagar, June 5 (NVI): The Indian Army’s Chinar Corps on Friday organised a series of activities in Kupwara and Uri to mark World Environment Day, aimed at promoting environmental awareness and sustainable practices among the youth and local communities.

Held under the theme “Hamari Sarzameen, Hamara Mustaqbil” (Our Land, Our Future), the programmes witnessed participation from students, teachers, residents and environmental enthusiasts from different parts of the region.

According to a defence spokesperson, the activities included a “Best Out of Waste” competition, waste collection challenge, waste segregation game, eco-quizzes and an eco-friendly selfie point to encourage environmental responsibility and awareness.

Students from various schools and colleges actively participated in the events, showcasing creativity and commitment towards environmental conservation.

As part of the observance, the Army also conducted a plantation drive to promote green cover and reinforce the importance of protecting natural resources.

The Chinar Corps said such initiatives reflect its continued efforts to foster environmental consciousness and community participation in conservation activities across Jammu and Kashmir.(NVI)

Ambani surpassed by TikTok Owner Zhang Yiming to become Asia’s 2nd richest man

Zhang Yiming, the second richest man of Asia

New Delhi, June 5: Mukesh Ambani has been overtaken by Chinese billionaire and TikTok owner Zhang Yiming to become Asia’s second-richest person, even as Gautam Adani retains the top position.

Mukesh Ambani was surpassed by Zhang after a rise in his ByteDance Ltd.’s valuation and further progress in the Chinese company’s artificial intelligence ambitions, according to the Bloomberg Billionaires Index.

Zhang’s net worth rose to $92.8 billion, while Ambani slipped to third place in Asia with a latest net worth of $86.9 billion, the Index suggested.

Adani, with a net worth of $117.4 billion, maintained the top spot in Asia.

Zhang went ahead of Ambani due to ByteDance’s higher valuation, the strength of TikTok and Doubao, and the easing of concerns around the company’s US business.

Ambani’s latest net worth stood at $86.9 billion, according to the index. The latest rise in the TikTok founder’s fortunes cemented his position as China’s richest person.

The ByteDance co-founder’s fortune has grown more than sevenfold since Bloomberg began tracking his wealth in March 2019, when it stood at $13 billion.

The increase has come alongside the success of ByteDance’s video app TikTok and its Doubao AI chatbot, which has amassed more than 300 million monthly users to become China’s most popular chatbot.

Earlier this year, ByteDance also transferred parts of its US business to American investors.

Zhang first became China’s richest person in 2025.

He was later overtaken before reclaiming the title earlier this year.

His wealth jumped by more than $24 billion after Bloomberg analysed valuations from investors BlackRock Inc., Fidelity Investments and T. Rowe Price Group Inc., along with those given by HSG and General Atlantic last month.

ByteDance is China’s highest-profile private company.

Its success with Doubao has prompted it to prepare to charge subscription fees, which is rare in a country where users have been unwilling to pay for online services.

The company has long been seen as a leading candidate for an eventual initial public offering.

The company’s profile remained intact even after TikTok’s US operations were transferred to a consortium led by Oracle Corp., Silver Lake and Abu Dhabi-based investment company MGX.

That brought to an end years of political and regulatory uncertainty over what critics said were potential national security vulnerabilities.

ByteDance is now betting heavily on artificial intelligence.

Bloomberg News reported last month that the Beijing-based social media company is discussing spending as much as $70 billion this year to lead the Chinese AI market and challenge the top US players abroad.

Much of that investment is expected to be funded by the roughly $50 billion in profit it earned in 2025. (NVI)

Talks with US on Trade Deal have made progress: India

PM Narendra Modi and US President Donald Trump (File Pic)
PM Narendra Modi and US President Donald Trump (File Pic)

New Delhi, June 5: India has said the negotiations for a Bilateral Trade Agreement (BTA) with the US have made further progress, a day after an American official trade delegation concluded its visit here.

The United States Trade Representative (USTR) delegation, led by its Chief neogiator, visited India from June 1 to June 4 and held detailed talks with counterparts from the Ministry of Commerce.

Both countries have reaffirmed their commitment to moving forward and finalising the trade agreement, according to the Ministry of External Affairs (MEA).

Both sides have termed these conversations constructive and positive.

The discussions are part of efforts to finalise an interim trade agreement while work continues on a broader trade deal.

In a statement, India’s Commerce Ministry said the discussions were held in a spirit of cooperation and pragmatism. The ministry said both countries reaffirmed their commitment to strengthening trade and economic ties through a balanced agreement.

The talks covered several key areas, including trade in goods, customs procedures, trade facilitation measures, non-tariff barriers, economic security cooperation and other issues of mutual interest.

The negotiations are part of a framework announced by India and the US earlier this year.

Interim Agreement

In a joint statement issued on Thursday, both countries agreed to work towards an Interim Agreement while continuing discussions on a larger Bilateral Trade Agreement (BTA).

Last week, US Ambassador to India Sergio Gor said negotiations were in the final stages and that only a small portion of the agreement remained unresolved.

Commerce and Industry Minister Piyush Goyal also recently said that most issues had already been settled. According to him, discussions are now focused on final details before the first tranche of the agreement can be announced.

Progress on the trade pact has gathered pace, but uncertainty remains as the Donald Trump administration is also considering 12.5 per cent additional tariffs on imports from 60 economies, including India.

New Challenge

The USTR is reviewing a separate proposal that could affect imports from India and several major trading partners.

It has completed investigations involving 60 economies and proposed additional tariffs under Section 301 of the US Trade Act of 1974.

The proposal is linked to concerns over the import of goods allegedly connected to forced labour.

According to the proposal, economies that have adopted restrictions on such imports could face tariffs of 10 per cent. Countries that have not implemented similar measures could face duties of up to 12.5 percent.

India, China, Japan, South Korea, the United Kingdom, Bangladesh, Vietnam and several other economies are included in the review.

US Trade Representative Jamieson Greer said countries that fail to address imports linked to forced labour create unfair conditions for American workers.

However, the proposed tariffs are not yet final. Stakeholders have until June 22 to request participation in hearings. Written comments can be submitted until July 6, while hearings are scheduled for July 7. The USTR will review all submissions before making a final decision.

India Engaged with US on Section 301

India has remained engaged with the US on Section 301 proceedings while simultaneously negotiating the trade agreement.

The Commerce Ministry said discussions on the proposed tariffs and the trade pact are moving in parallel.

New Delhi is seeking to protect its trade interests while also advancing an economic partnership with Washington.

For both countries, the stakes are high. The US remains one of India’s largest trading partners, while India continues to be an important market for American businesses.

LG Sinha inaugurates Emergency Operations Centre, Amarnath Yatra Control Room in Ganderbal

Srinagar, Jun 5 (NVI): Lieutenant Governor Manoj Sinha on Friday inaugurated the District Emergency Operations Centre and Shri Amarnathji Yatra Control Room at the Deputy Commissioner’s Office in Ganderbal, officials said.

The newly established facility is aimed at strengthening monitoring, coordination and emergency response mechanisms for the upcoming annual Shri Amarnathji Yatra.

Deputy Commissioner Ganderbal Jatin Kishore briefed the Lieutenant Governor on the key features of the centre, which brings together CCTV feeds from across the district installed by the civil administration, police and other security agencies for real-time monitoring from a centralized location.

Officials said the facility is supported by a 24-hour emergency citizen helpline to provide immediate assistance and facilitate crisis management.

The Emergency Operations Centre also integrates CCTV feeds from Baltal Base Camp, approach roads leading to the camp, parking areas at Baltal, Sonamarg and the Manigam Transit Camp to ensure enhanced surveillance and coordination during the pilgrimage.

Speaking on the occasion, Sinha said the facilities would help ensure a smooth, safe and seamless pilgrimage experience for devotees undertaking the annual yatra.

The centre will play a key role in planning, monitoring and decision-making during the pilgrimage, officials added. (NVI)

Pakistan to hold ‘General Elections’ in Gilgit-Baltistan: India lodges protest

Anti-Pakistan protests in occupied Gilgit-Baltistan (File pic
Anti-Pakistan protests in occupied Gilgit-Baltistan (File pic)

New Delhi, June 5: Pakistan has no right to hold so-called ‘general elections’ in illegally-occupied Gilgit-Baltistan, India said today while commenting on the plans afoot regarding those territories.

The External Affairs Ministry, in a statement, underlined that Gilgit-Baltistan is an Indian territory under illegal and forcible occupation of Pakistan, which is subjecting the locals tehre to extreme human rights violations, political repression, economic exploitation and denial of freedom.

Pakistan is planning to hold ‘general elections’ to the so-called ‘Assembly’ of Gilgit-Baltistan two days from now.

“The Government of India categorically rejects any attempts by Pakistan to bring material change to areas under Pakistan’s illegal occupation, and underlines that such actions cannot hide the fact that Pakistan illegally remains in possession of Indian territories, which it must vacate,” said the statement issued by the External Affairs Ministry.

“The Government of India lodged a strong protest with Pakistan regarding the latter’s plans to hold “General Elections” to the so-called “Gilgit-Baltistan Assembly”, in the Indian territories illegally and forcibly occupied by Pakistan, scheduled for 7 June 2026,” it said.

“The Government of India reiterated its well-known position that the entire Union Territories of Jammu & Kashmir and Ladakh, including the so-called “Gilgit-Baltistan”, are integral and inalienable parts of India as a result of complete, legal and irrevocable accession of Jammu & Kashmir to India in 1947,” it said.

The Government of India further emphasized that “such endeavours by Pakistan cannot mask the underlying issues of grave human rights violations, political repression, economic exploitation and denial of freedom in territories illegally occupied by Pakistan.” (NVI)

ACB books former Horticulture officials, contractor over alleged irregularities in Srinagar garden project

Srinagar, Jun 5 (NVI) :The Anti-Corruption Bureau (ACB) has registered a case against former officials of the Horticulture Department, members of various committees and a private contractor for alleged corruption and procedural violations in development works carried out at Zawoora Garden in Srinagar, officials said on Friday.

The case was registered following a Joint Surprise Check conducted by the ACB into allegations of financial irregularities and abuse of official position in works executed under the Centre of Excellence project at Zawoora Garden, they said.

According to officials, the enquiry found prima facie evidence of irregularities in the tendering and execution of works. The notice inviting tender (NIT) was allegedly framed without adequate quality parameters and technical specifications, creating scope for arbitrary decision-making.

The enquiry further revealed that financial provisions incorporated in the tender were substantially higher than those envisaged in the approved Detailed Project Report (DPR), officials said.

They said the eligibility criteria relating to financial turnover were allegedly fixed at an unusually high level despite lower actual requirements, restricting fair competition and favouring a particular bidder.

The findings indicate prima facie abuse of official position, criminal misconduct and criminal conspiracy involving public servants and the beneficiary private firm, resulting in undue pecuniary advantage to the contractor and loss to the government exchequer, the officials said.

Following the findings, FIR No. 09/2026 was registered at ACB Police Station Srinagar under relevant provisions of the Jammu and Kashmir Prevention of Corruption Act and Section 120-B of the Ranbir Penal Code.

Those named in the case include the then Director Horticulture Kashmir, members of the District Level Purchase Committee (DLPC), members of the Inspection Committee, contractor M/s Fruit Master Agro Fresh Pvt Ltd and other persons involved, officials said.

Further investigation is underway to ascertain the role of all those involved and take appropriate legal action, they added.(NVI)

CS Pushes for Wider Implementation of Agri Credit Schemes Across J&K

Srinagar, Jun 5 (NVI): Jammu and Kashmir Chief Secretary Atal Dulloo on Friday called for ambitious implementation of agricultural credit schemes across the Union Territory, stressing that easy access to finance is key to unlocking the potential of the agriculture and allied sectors.

Chairing a review meeting of the Agriculture Production Department (APD), Dulloo assessed the district-wise progress of major credit-linked schemes, including the Kisan Credit Card (KCC), Agriculture Infrastructure Fund (AIF), PM Formalisation of Micro Food Processing Enterprises (PMFME), Holistic Agriculture Development Programme (HADP) Credit and other flagship initiatives.

He said district administrations and banks should work with greater commitment to ensure that eligible farmers, entrepreneurs and producer groups derive maximum benefits from the schemes.

The chief secretary emphasized saturation of KCC coverage, timely renewal of accounts and prompt disbursement of repayment incentives to eligible farmers. He also directed authorities to intensify awareness campaigns so that farmers are fully informed about the benefits and eligibility conditions under the scheme.

Dulloo further asked officials to expedite onboarding under the Unified Lending Interface (ULI) in areas where land records have been digitised and ensure that records remain updated alongside the generation of Farmer IDs.

Highlighting the role of Farmer Producer Organisations (FPOs) in strengthening rural economies, he called for systematic capacity building and mentoring support to make them financially sustainable and credit-worthy.

According to official figures presented during the meeting, Jammu and Kashmir currently has around 11.57 lakh active KCC account holders, with nearly 3.5 lakh farmers availing prompt repayment incentives during the previous financial year. About 7.99 lakh beneficiaries have been issued smart cards, while PM Fasal Bima Yojana coverage reached 41 per cent during the Kharif season.

Officials informed the meeting that loans worth Rs 680 crore have been sanctioned under the Agriculture Infrastructure Fund, with Rs 431 crore disbursed among 392 beneficiaries.

Under PMFME, 545 cases involving disbursement of Rs 22 crore were reported during 2024-25, while loans amounting to Rs 302.78 crore have been sanctioned under HADP Credit, of which Rs 172.69 crore has been disbursed till May 2026.

The meeting was also told that credit worth Rs 604 crore has been sanctioned to 67 FPOs, while Rs 425 crore has been disbursed among 54 FPOs across the Union Territory.

Reviewing the PM-KISAN scheme, officials said Jammu and Kashmir has around 9.16 lakh active beneficiaries and that pending issues related to land seeding, NPCI linkage and e-KYC are being addressed on priority.

Additional Chief Secretary, APD, Dr. Ashish Chandra Verma, presented an overview of the agricultural credit ecosystem in the Union Territory and outlined measures for achieving targeted outcomes.

Officials also informed the meeting that the upcoming “Khet Bachao Abhiyan” would be utilised to spread awareness about agricultural credit schemes and other initiatives aimed at strengthening the farm sector across Jammu and Kashmir.(NVI)

J&K Lt Governor Inaugurates Yatri Bhawan at Kheer Bhawani Temple

Srinagar, June 5 (NVI): Jammu and Kashmir Lieutenant Governor Manoj Sinha on Friday inaugurated a newly-constructed Yatri Bhawan at the revered Mata Kheer Bhawani Temple in Tulmulla area of Ganderbal district of Kashmir.

The Bhawan will provide additional accommodation facilities for pilgrims visiting the shrine, significantly ahead of the annual Kheer Bhawani Mela on June 22.

After dedicating the facility to the public, Sinha said the Yatri Bhawan would significantly enhance the pilgrimage experience by providing safe, hygienic and comfortable lodging facilities for devotees.

Located in Tulmulla, around 25 kilometres from Srinagar and five kilometres from Ganderbal town, the Mata Kheer Bhawani Temple is one of the most revered shrines in Jammu and Kashmir and attracts thousands of devotees, particularly during the annual Mela Kheer Bhawani and Jyeshtha Ashtami celebrations.

The Lieutenant Governor said the project was conceived following requests from several delegations in 2023 seeking improved facilities for pilgrims. The foundation stone for the Yatri Bhawan was laid on Jyeshtha Ashtami in 2024.

“With the blessings of Mata Kheer Bhawani, I had laid the foundation stone last year. The project will strengthen the shrine’s capacity to host pilgrims visiting from across India and abroad. Our endeavour has been to provide members of the Kashmiri Pandit community and other devotees with better facilities and a peaceful spiritual experience,” Sinha said.

Constructed within the temple premises at a cost of Rs 3.85 crore, the facility comprises a G+II RCC framed structure with a plinth area of 3,885 square feet. It has the capacity to accommodate around 800 to 900 pilgrims through floor bedding arrangements.

Earlier, the Lieutenant Governor paid obeisance at the temple and prayed for peace, prosperity and the well-being of the people, officials said.(NVI)

LG Sinha says anti-drug campaign has turned into people’s movement; 1,128 smugglers arrested in 55 days

Ganderbal, Jun 5 (NVI): Jammu and Kashmir Lieutenant Governor Manoj Sinha on Friday said the ongoing anti-drug drive in the Union Territory has evolved into a mass movement against narco-terrorism, with over 1,100 drug smugglers arrested and more than 1,000 FIRs registered during the past 55 days.

Addressing a gathering after joining the ‘Nasha-Mukt Jammu Kashmir Campaign’ and a padyatra in Ganderbal district, Sinha said the administration was determined to eliminate the drug menace and dismantle narco-terror networks operating in Jammu and Kashmir.

“Having now visited every district in Kashmir Valley and stood with each march, I can say that a historic movement against narco-terrorism has risen,” the lieutenant governor said.

Sharing details of the campaign, he said that in the last 55 days, 1,036 FIRs have been registered, 1,128 drug smugglers arrested and more than 100 properties linked to drug traffickers attached.

He said nearly 700 driving licences had been cancelled, while recommendations had been made for cancellation of passports of 130 drug smugglers.

Sinha said the campaign, launched from Jammu 55 days ago, had transformed from a government initiative into a people’s movement aimed at protecting youth from drugs and preventing narco-terrorists from exploiting society.

Describing drug trafficking as a threat to national security, he said proceeds from the illegal trade were being used to fund terrorism and purchase weapons.

“This is not simply a matter of ordinary crime but also a question of national security and a direct threat to the very survival of our society,” he said.

The lieutenant governor warned that those involved in narco-terrorism, whether operating from within Jammu and Kashmir or from across the border, would face stringent action.

He also assured rehabilitation and support for those affected by drug addiction through treatment, counselling and employment opportunities.

Calling upon women and youth to actively participate in the campaign, Sinha urged them to act as protectors of their communities and educational institutions against the drug menace.

On the occasion, the lieutenant governor launched “Sindh Samvad”, a podcast series, and felicitated winners of various competitions organised under the Nasha Mukt Jammu Kashmir Abhiyaan. (NVI)

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