In the meantime, US Treasury Secretary Scott Bessent stated that trade discussions with China are “stalled,” advocating for a call between Trump and Xi to regain momentum. Additionally, a US federal appeals court has temporarily reinstated tariffs from the Trump era, putting a hold on a recent ruling against them.
In Mumbai, the MMRDA has cancelled a ₹14,000 crore metro tender from which L&T was disqualified. Moreover, GST examinations of MNCs are increasing, Patanjali is under a fresh MCA investigation, and a senior ED officer was arrested by the CBI in Odisha on bribery allegations.
At the same time, Israel has agreed to a US-supported ceasefire plan for Gaza, while IndiGo defends its leasing relationship with Turkish Airlines.
Here are today’s Top 10 stories.
India’s Q4 GDP grows 7.4%, FY25 growth forecast remains unchanged at 6.5%
According to data from the National Statistics Office (NSO) and the Ministry of Statistics and Programme Implementation (MoSPI), India’s economy grew by 7.4% in the January–March 2025 quarter (Q4 FY25). This represents a deceleration from the previous year’s 8.4% growth during the same period, but it still surpasses economists’ projections. A CNBC-TV18 poll estimated Q4 GDP growth at 6.8%.
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Also Read | India’s fiscal deficit stands at 4.8% of GDP in FY25
Scott Bessent: US-China negotiations are ‘stalled’, advocates for Trump-Xi call
US Treasury Secretary Scott Bessent indicated that trade talks with China are “a bit stalled,” suggesting that a conversation between President Donald Trump and Chinese President Xi Jinping may be essential for the two largest economies to reach an agreement.
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Appeals court permits Trump tariffs to remain in place for now
A federal appeals court has temporarily suspended a significant ruling against President Donald Trump’s global tariffs as it evaluates the administration’s request for a longer hold.
The US Court of Appeals for the Federal Circuit issued a brief order for an administrative stay on Thursday, marking the latest development in a case that has impacted a key aspect of Trump’s economic policies. It halts an order that had blocked the tariffs and provided the administration 10 days to unwind the levies.
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L&T receives reprieve — MMRDA cancels ₹14,000 crore tender process where company was disqualified
In a positive development for Larsen and Toubro Ltd. in the Mumbai Metro case, the Mumbai Metropolitan Region Development Authority (MMRDA) has opted to cancel the ₹14,000 crore tender process from which the company was disqualified. This announcement came on Friday, May 30.
The decision followed concerns raised by the Supreme Court regarding the tender.
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Exclusive | GST intensifying scrutiny of Global Capability Centres and MNCs; industry seeks urgent clarity
The burgeoning Global Capability Centre (GCC) ecosystem in India and its multinational corporation (MNC) subsidiaries are facing increased scrutiny from Goods and Services Tax (GST) authorities.
Reports from sources indicate that “tax officials at both state and central levels, along with the Directorate General of GST Intelligence (DGGI), have initiated extensive investigations into the export status of services provided by these entities.”
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RBI’s draft rules for gold loans: Finance Ministry proposes relief for borrowers below ₹2 lakh, January 2026 rollout
The Department of Financial Services (DFS) under the Ministry of Finance has offered recommendations to the Reserve Bank of India (RBI) concerning its draft guidelines for lending against gold collateral.
These suggestions aim to safeguard the interests of small-ticket borrowers.
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Patanjali Ayurved under MCA examination; investigation initiated under Section 210 of the Companies Act
In a notable regulatory development, the Ministry of Corporate Affairs (MCA) has initiated an investigation into the affairs of Patanjali Ayurved led by Ramdev, under Section 210 of the Companies Act, 2013. Sources revealed to CNBC-TV18 that the “Directorate General of Investigations under the MCA has delivered a formal notice to the company, commencing a probe into its financial and operational practices.”
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CBI detains ED Deputy Director in Odisha over alleged bribery case
The Central Bureau of Investigation (CBI) has arrested Deputy Director of the Enforcement Directorate (ED) Chintan Raghuvanshi concerning an alleged bribery case in Odisha, on Friday (May 30).
The arrest was prompted by a complaint from Odisha businessman Ratikanta Rout, who claimed that the officer requested a bribe to resolve a case against him.
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IndiGo plans to maintain leasing agreement with Turkish Airlines unless government intervenes, says CEO
IndiGo has no intention of terminating its leasing agreement with Turkish Airlines unless prompted by regulatory changes, confirmed CEO Pieter Elbers on Friday (May 30), amid inquiries regarding the airline’s growing international presence and foreign-operated aircraft usage.
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Israel agrees to new US ceasefire plan for Gaza as Hamas remains cautious
Israel has accepted a US ceasefire proposal for Gaza, which Israeli officials state would entail a 60-day pause in hostilities and enable the restoration of United Nations-led aid distribution to the Palestinian territory.
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