The past 24 hours in India have been marked by a series of crucial developments across various sectors, impacting policy, economy, and politics.
Legislative and Policy Reforms:
The Promotion and Regulation of Online Gaming Bill, 2025, has successfully passed the Rajya Sabha, bringing it closer to becoming law. The bill, which aims to ban real money games while promoting eSports and online social gaming, cleared both Houses of Parliament within 72 hours and now awaits the President's signature. In a significant move for indirect taxation, a Group of Ministers (GoM) on GST rate rationalization approved the Centre's proposal to streamline the Goods and Services Tax system into a two-rate structure of 5% and 18%.
Political Landscape:
In the political arena, B. Sudershan Reddy, a former Supreme Court Judge and the Vice-Presidential candidate for the INDIA bloc, officially filed his nomination for the upcoming election. Prime Minister Narendra Modi is currently undertaking a two-state tour, visiting Bihar and West Bengal. During his visit today (August 22), he is scheduled to inaugurate and lay the foundation stones for development projects totaling over Rs 18,000 crore. Additionally, senior IPS officer Satish Golcha has been appointed as the new Delhi Police Commissioner. The Supreme Court is also expected to deliver its verdict today on pleas challenging the removal of stray dogs from the streets of the Delhi-NCR region.
Economic Developments and Foreign Relations:
On the economic front, Kyndryl, a prominent technology services provider, announced a substantial commitment of $2.25 billion for investment in India over the next three years. This investment will focus on modernizing essential technology infrastructure, fostering talent development, and establishing an AI Innovation Lab in Bengaluru. Kyndryl's Chairman and CEO met with Prime Minister Modi to discuss these plans. India's private sector activity also saw a significant boost, expanding at its fastest pace on record in August, driven by a surge in demand from the services sector.
In international relations, External Affairs Minister S. Jaishankar engaged in discussions with Russia to expand bilateral trade and address non-tariff barriers. Jaishankar also disclosed that the US had previously asked India to purchase energy from Russia to help stabilize the global energy market. Concurrently, India rejected Nepal's objections regarding the resumption of trade with China through the Lipulekh Pass, asserting that Nepal's claims are not based on "historical facts." These diplomatic exchanges occurred amidst a "Maharaja" jibe from a Trump White House trade advisor aimed at India during ongoing tariff discussions.
Defense and Infrastructure:
Further bolstering its defense capabilities, India successfully test-fired its most advanced missile, Agni-5. However, infrastructure in Uttarakhand faced challenges as landslides blocked the Gangotri and Yamunotri highways.