As of January 12, 2025, India's direct tax collection has reached nearly Rs 16.9 lakh crore, marking a significant 16% increase compared to the previous year. This figure accounts for over 76% of the budgeted target of Rs 22.07 lakh crore, indicating a robust performance in revenue generation [923d3d73].
In terms of inflation, retail prices have shown signs of moderation, with December's retail inflation dropping to 5.22%, down from 5.5% in November. However, this rate still remains above the Reserve Bank of India's target range of 2-6% [923d3d73].
The economic landscape is further enriched by the anticipation of a rare comet, which is currently at perihelion and is expected to be visible for the first time in 160,000 years, potentially shining as brightly as Venus [923d3d73].
In political news, President Biden, in his farewell address, emphasized that China will not surpass the U.S. economy, reflecting ongoing global economic dynamics [923d3d73]. Additionally, the NDA syllabus is set to undergo a significant overhaul by 2026, incorporating advanced technology subjects to better prepare students for future challenges [923d3d73].
On the defense front, India successfully tested the Nag Mark 2 missile, showcasing advancements in its military capabilities [923d3d73]. Meanwhile, the INDI alliance is experiencing strains in Uttar Pradesh, with Rahul Gandhi publicly criticizing AAP leader Arvind Kejriwal [923d3d73].
The upcoming Maha Kumbh Mela is expected to provide a substantial boost to the Uttar Pradesh economy, with estimates suggesting an increase of Rs 2 lakh crore [923d3d73]. Furthermore, a report from SBI indicates that a 1% rise in literacy rates could lead to a 25% increase in female voter turnout, highlighting the intersection of education and political engagement [923d3d73].