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Indermit Gill will be the second Indian, after Kaushik Basu, to become the chief economist of World Bank, the international financial institution that grants loan to middle and lower-income countries.

Basu had presided over the key position at the World Bank between 2012 and 2016. Two other prominent Indian economists - Raghuram Rajan and Gita Gopinath - have served as the chief economists of the International Monetary Fund (IMF), an entity linked closely to the World Bank.

Gill's tenure will start from September 1, 2022, the World Bank said in a press release issued on July 21.

After the near elimination of the budgetary subsidy on liquefied petroleum gas (LPG) in FY22, the Union government may have to provide a tidy sum for this purpose in FY23.

Even though no subsidy has been transferred to the bank accounts of households as cooking gas subsidy since June 2020, an incomplete pass-through of costs to consumers has inflated the state-run oil marketing companies’ under-recoveries on this count. Also, the re-introduction of LPG subsidy under the Ujjwala Yojana, which is meant for low-income people at the rate of Rs 200/cylinder, in May 2022 is seen to cost Rs 6,100 crore in FY23.

Chinese fighter aircraft are continuing attempts to provoke India in Eastern Ladakh by flying close to the Line of Actual Control (LAC).

On one hand, the Chinese Army is holding talks with the Indian Army to defuse tensions in Eastern Ladakh, but on the other hand, its Air Force aircraft is flying too close to the Line of Actual Control with India in the eastern Ladakh sector.

Top government sources told media that the Chinese Air Force fighter aircraft are flying too close to the LAC with India in the eastern Ladakh sector.

The Calcutta High Court on Sunday directed the Enforcement Directorate (ED) to take West Bengal minister Partha Chatterjee, arrested in connection with the school jobs scam, to AIIMS Bhubaneswar early on Monday by air ambulance. The court directed that the minister, who held the education portfolio during the time of the appointment scam in which teaching jobs in state government-sponsored and aided schools were allegedly offered in lieu of money, be produced before a special ED court in Kolkata through virtual mode at 4 PM on Monday.

“The investigating agency is directed to take the accused by air ambulance to AIIMS, Bhubaneswar in the early morning on 25th July, 2022,” Justice Bibek Chaudhuri directed. After hearing pleadings in a revision application moved by the ED challenging a lower court order sending Chatterjee to state-run SSKM Hospital after his lawyers claimed he was ill, Justice Chaudhuri directed that the AIIMS, Bhubaneswar authority will medically examine the accused by a team of specialist doctors of cardiology, nephrology, respiratory medicines and endocrinology.

The feud between Delhi Lieutenant Governor VK Saxena and Chief Minister Arvind Kejriwal escalated after the latter skipped a pre-decided combined programme on Sunday. The LG said that he expects the Chief Minister to be present in future events "to give a message" that they "want to work together" for the city`s development.A pre-decided combined programme of tree plantation drive at Asola Bhatti mines was organised, which was skipped by the Chief Minister. The Delhi government sources said that the government programme was turned into a political BJP programme, because of which Kejriwal decided not to attend the event. This comes days after Kejriwal skipped the weekly meeting called by the LG on Friday citing ill-health. However, the Aam Aadmi Party alleged that the LG had also skipped one of the meetings on July 8.