Man lynched over revenge killing in Uttar Pradesh's Hardoi; 18 arrested
Mumbai (PTI): Reserve Bank on Wednesday cut India's growth forecast to 6.5 per cent from 6.7 per cent estimated earlier for the current financial year on account of impact of global trade and policy uncertainties.
Prospects of agriculture sector remain bright on the back of healthy reservoir levels and robust crop production in 2025-26, RBI Governor Sanjay Malhotra said while unveiling the outcome of the first bi-monthly Monetary Policy Committee meeting for the current financial year.
Manufacturing activity is showing signs of revival with business expectations remaining robust, while services sector activity continues to be resilient, he said.
Investment activity has gained traction and it is expected to improve further on the back of sustained higher capacity utilisation, government's continued thrust on infrastructure spending, healthy balance sheets of banks and corporates, along with the easing of financial conditions, he said.
"Merchandise exports will be weighed down by global uncertainties, while services exports are expected to remain resilient. Headwinds from global trade disruptions continue to pose downward risks," he said.
Taking all these factors into consideration, he said, real GDP growth for 2025-26 is now projected at 6.5 per cent, with Q1 at 6.5 per cent; Q2 at 6.7 per cent; Q3 at 6.6 per cent; and Q4 at 6.3 per cent.
"While the risks are evenly balanced around these baseline projections, uncertainties remain high in the wake of the recent spike in global volatility. It may be noted that the growth projection for the current year has been marked down by 20 basis points relative to our earlier assessment of 6.7 per cent in the February policy," he said.
This downward revision essentially reflects the impact of global trade and policy uncertainties, he said.
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Govt to set up Bureau of Port Security to boost port, vessel security
New Delhi (PTI): To beef up the security infrastructure of ports, the government will set up a statutory body -- the Bureau of Port Security -- that will ensure timely analysis, collection and exchange of security-related information of ports and vessels, officials said on Friday.
Union Home Minister Amit Shah on Thursday convened a meeting for the constitution of the dedicated body, the Bureau of Port Security (BoPS), which was attended by the Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, and the Minister of Civil Aviation, Ram Mohan Naidu, an official statement said.
Emphasising that there is a need to establish a country-wide robust port security framework, Shah directed that security measures should be implemented in a graded and risk-based manner, taking into account vulnerabilities, trade potential, location, and other relevant parameters.
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The meeting also noted that lessons learned from the maritime security framework shall be replicated in the aviation security domain, the statement said.
The new body, modelled on the lines of the Bureau of Civil Aviation Security (BCAS), will be constituted as a statutory body under the new Merchant Shipping Act, 2025, and will work under the aegis of the Ministry of Ports, Shipping and Waterways (MoPSW), it said.
Headed by a senior IPS officer as its director general, the BoPS will be responsible for regulatory and oversight functions relating to the security of ships and port facilities.
"During the transition period of one year, the director general of shipping shall function as the director general of BoPS," the statement said.
"The BoPS will ensure timely analysis, collection and exchange of security-related information, with a special focus on cybersecurity, including a dedicated division to safeguard port IT infrastructure from digital threats," it said.
The government has designated the Central Industrial Security Force (CISF) as a recognised security organisation (RSO), responsible for undertaking security assessments and preparation of security plans for port facilities.
The Central Armed Police Force (CAPF) will train and build the capacities of private security agencies (PSAs) engaged in port security.
"These agencies shall be certified and appropriate regulatory measures shall be introduced to ensure that only the licensed PSAs operate in this sector," the statement said.
