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News Highlights provides you with the best compilation of the Daily News Highlights taking place across the globe: National, International, Sports, Science and Technology, Banking, Economy, Agreement, Appointments, Ranks, and Report and General Studies
1.
Ending almost 11 months of uncertainty that saw bilateral relations plunge to their lowest in over two decades and the trust deficit deepen, India and the United States agreed to a historic trade deal Monday under which the US will reduce tariffs from 50% - the highest in the world - to 18%.
2.
A day after presenting the Union Budget 2026-27 in Parliament, Finance Minister Nirmala Sitharaman said on Monday that growth will continue to be the government's priority as it moves along the fiscal consolidation path, adding that a sharper reduction in the fiscal deficit could have been opted for, but a choice was made to focus on infrastructure spending as a tool for sustaining growth.
3.
Flagging A sharp surge in 'large-group unconditional cash transfer schemes' across states, the 16th Finance Commission has warned that a growing reliance on cash handouts could destabilise state finances. It called for a periodic and rigorous review of subsidies, rationalisation of the beneficiary base, and clear sunset or exit clauses.
4.
Indian public sector refiners last year signed a one-year deal for US liquefied petroleum gas (LPG) imports. While crude oil imports are already nearing 10%, the imports of LPG of around 2.2 million tonnes per annum (mtpa) of LPG also come close to 10% of India's annual imports.
5.
This meeting occurred amid escalating tensions between Iran and the US, a growing rift between Saudi Arabia and UAE, and the Trump-led Board of Peace attempting a new approach to resolving the Israel-Palestine question.
6.
Gaza's Rafah border crossing with Egypt reopened on Monday for limited traffic, a key step in the Israeli-Hamas ceasefire but a mostly symbolic development on the ground as few people will be allowed to travel in either direction and no goods will be going into the war-torn territory.
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