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India’s gross revenues from the Goods and Services Tax (GST) grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the fourth-highest monthly collections from the tax.
February’s GST revenue growth reflected the third highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore, 11.7% above the same period last year.
The gross GST kitty of ₹1,68,337 crore in February was 3.3% lower than January’s updated collection numbers of ₹1,74,106 crore, the second-highest tally since GST was launched in July 2017.
The GST numbers “demonstrate continued growth momentum and positive performance”, the Finance Ministry asserted, noting that collections from domestic transactions rose 13.9%, while goods imports delivered an 8.5% rise in revenues.
Editorial
Change and continuity in India’s Palestine policy (Page no. 6)
(GS Paper 2, International Relation)
Historically, India has been a firm supporter of the Palestine cause. And even when India’s relationship with Israel flourished in the past three decades, New Delhi has maintained a careful balance between its new partnership and historical commitment towards Palestine.
In recent years, there have been questions on whether India is abandoning this balance and tilting towards the Jewish state in a changing West Asia, where even Arab nations have been ready to sidestep the Palestine question for better bilateral ties with Israel.
Immediately after the October 7 Hamas attack in Israel, in which at least 1,200 people, mostly civilians, were killed, Prime Minister Narendra Modi in a post on X, said he was “deeply shocked by the news of the terrorist attack”. He said, “We stand in solidarity with Israel at this difficult hour.”
News
With China out, Indian firm to build Sri Lanka power project (Page no. 8)
(GS Paper 2, International Relation)
Three years after objecting to a Chinese energy project in northern Sri Lanka, barely 50 km off Tamil Nadu’s coast, India is set to implement a hybrid power project in three islands off Jaffna peninsula with a $11-million grant.
The Sri Lanka Sustainable Energy Authority, the Government of Sri Lanka, and Indian company U-Solar Clean Energy Solutions signed the contract for building “Hybrid Renewable Energy Systems” in Delft or Neduntheevu, Nainativu and Analaitivu islands off Jaffna peninsula.
Centre signs five contracts to procure arms and ammunition for ₹39,125 cr. (Page no. 8)
(GS Paper 3, Defence)
The Union Ministry of Defence signed five major capital acquisition contracts worth ₹39,125.39 crore for the three services.
Of the five contracts, one was with Hindustan Aeronautics Limited (HAL) for procurement of aero-engines for MiG-29 aircraft, two with Larsen & Toubro (L&T) for procurement of Close-in Weapon System (CIWS) and High-Power Radar (HPR) and two with BrahMos Aerospace Private Limited (BAPL) for procurement of BrahMos missiles and ship-borne BrahMos cruise missile systems.
These deals will further strengthen indigenous capabilities, save foreign exchange and reduce dependency on foreign origin equipment manufacturers in future. The contracts were exchanged in the presence of Union Defence Minister Rajnath Singh at South Block.
India to establish international alliance to protect big cats (Page no. 8)
(GS Paper 3, Environment)
The Union Environment Ministry plans to set up and coordinate an International Big Cat Alliance (IBCA), along the lines of the International Solar Alliance, an India-headquartered initiative to promote solar installations globally. The Cabinet approved the proposal.
India’s global leadership in tiger conservation has been recognised. The IBCA, which will be headquartered in India and to which India has already committed ₹150 crore [for five years], will lead initiatives to disseminate good practices in conserving big cats.
There is no international body addressing the conservation challenges of big cats across their range of habitats.
The pioneering and long-standing tiger and other big cat conservation good practices which evolved in India may be replicated in other range countries, Mr. Yadav said.
World
Call for probe grows as Gaza ‘massacre’ sparks outrage (Page no. 11)
(GS Paper 3, Environment)
World leaders called for an investigation and a ceasefire nearly five months into the Gaza war, a day after dozens of desperate Palestinians were killed rushing an aid convoy.
Israeli troops opened fire as Palestinian civilians scrambled for food aid during a chaotic incident on Thursday. An Israeli source acknowledged troops had opened fire on the crowd, believing it “posed a threat” .
Gaza’s Health Ministry called it a “massacre” and said 112 people were killed and more than 750 others wounded.
The fatalities helped push the total number of Palestinian war dead in Gaza to 30,228.
Business
Undersea cable disruptions expose India’s crucial telecom vulnerability (Page no. 12)
(GS Paper 3, Economy)
In the past week, three undersea cables connecting India to global telecom networks — Asia-Africa-Europe-1, Europe India Gateway, and Tata Global Network — have been damaged as a possible result of targeted attacks, forcing telecom operators such as Bharti Airtel, Reliance Jio and Tata Communications to reroute traffic to other cable systems.
The damage to the cable systems in the Red Sea as a result of the ongoing conflict in the region exposes the grave vulnerabilities of India’s Internet and overseas telecom connectivity systems if infrastructure passing through the region is further mpacted.
While Bharti and Jio declined to comment, Tata said in a statement it was “keeping a close watch on the situation and [had] initiated immediate and appropriate remedial actions”.