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Only 1% of the revenue of panchayats was earned by them, with the rest being raised as grants from the State and the Centre, show data. Specifically, 80% of the revenue was from Central government grants; only 15% was from State government grants. Consequently, the revenue raised by panchayats formed a minuscule share of the States’ own revenue.Panchayats act on three levels — gram sabhas, panchayat samithis, and zila parishads. They are responsible for a variety of tasks including agriculture, rural housing, water management, rural electrification, healthcare, and sanitation. In some cases, zila parishads are also responsible for maintaining schools,…

Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The Reserve Bank on Friday (February 6, 2026) revised upwards GDP growth forecast for the first quarter of the next fiscal year to 6.9% and 7% for the subsequent three months on the back of trade deals, GST rationalisation, and robust farm output.In December, the RBI had projected real GDP growth for the June quarter of 2026-27 at 6.7% and 6.8% for the July-September period. Projections for the full year 2026-27 will be announced in the next monetary policy statement in April after taking into account the new GDP…

The penny has finally dropped for Europe. Slow to the take, it is finally dawning on Europe that if the United States can turn against one of its staunchest allies and try to annex its sovereign territory, then it implies the inversion of the very idea of NATO. The principal guarantor of European security is now violating the core tenet of the European project. The lesson for Europe, therefore, as Canada’s Mark Carney said in his widely appreciated speech, “When the rules no longer protect you, you must protect yourself.”STORY CONTINUES BELOW THIS ADThe attempted Greenland grab was one abuse…

A media personnel takes photos of the office of ‘Centre for Equity Studies’ an advocacy outfit founded by activist Harsh Mander, after Central Bureau of Investigation (CBI) raided his offices allegdly over Foreign Contribution Regulation Act (FCRA) violation Last week, the Central Bureau of Investigation (CBI) registered a case of alleged Foreign Contribution (Regulation) Act (FCRA) violation against human rights activist Harsh Mander and his NGO Centre for Equity Studies (CES). FIRs were registered based on a complaint from the Union Home Ministry. The agency allegedly found that the NGO transferred some amount to certain individuals from the FCRA account,…

Foreign institutional investors offloaded equities worth ₹2,150.51 crore on February 5, according to exchange data. File | Photo Credit: PTI Stock market benchmark indices Sensex and Nifty continued to trade lower on Friday (February 6, 2026) after the RBI decided to pause on the policy rate front, with IT heavyweights facing selling pressure amid weak trend in the U.S. equities.Fresh foreign fund outflows also dented investors’ sentiment.Extending its previous day’s decline, the 30-share BSE Sensex further edged lower by 368.37 points to 82,945.56 in morning trade. The 50-share NSE Nifty dropped 146.7 points to 25,496.10.After a 25 basis point rate…

Indian players are seen during a practice session ahead of the super 8 contest against South Africa in the T20 World Cup 2026 in Ahmedabad on February 21, 2026 | Photo Credit: Vijay Soneji Much water has flowed down the Sabarmati since India and South Africa clashed at the Narendra Modi Stadium in Ahmedabad last December. Suryakumar Yadav’s men clinched that fifth T20I to seize the series at 3-1. Now at the same venue, the two units will square up against each other in the ICC T20 World Cup Super Eight Group 1 match on Sunday (February 22, 2026).Having played…

India has grown economically. While reminiscing about my last degree, my coursemates checked whether hostel rooms were equipped with jetsprays and geysers, slightly over a decade ago. Today, students check whether 10-minute delivery apps, working on a complex system of logistics, have their dark warehouses nearby.There is a level of comfort that was once aspirational that is now taken for granted by a very large population. The possibility of moving from poor to lower-middle and from lower-middle to upper-middle socioeconomic classes, due to increasing urbanisation, private job creation, and even increased governmental land acquisition, has made the common Indian more…

An official checks EVM and VVPAT machines prior to dispatch at an election centre in Ahmedabad. File photo With 97 crore voters eligible to register their mandate in the general elections later this year, India will yet again go through a process confirming its status as the world’s largest electoral democracy. The electorate will register a 6% rise this year in comparison to the number of eligible voters in 2019. India’s 28 States and eight Union Territories are home to a large number of voters comparable to some of the world’s biggest nation-states. Map 1 | The map shows the countries…

Bitcoin sank to roughly half its record price. | Photo Credit: Reuters U.S. futures and Asian shares traded mostly lower on Friday (February 6, 2026), tracking Wall Street’s losses as technology stocks again dragged on markets. Bitcoin sank to roughly half its record price, giving back all it gained since U.S. President Donald Trump won the White House for his second term. Tokyo’s Nikkei 225 was up 0.5% to 54,073.52, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 1.9%, and chipmaker Tokyo Electron rose 3%. Japan will also be holding its general election on…

On February 19, 2026, Andrew Mountbatten-Windsor, once known to the world as Prince Andrew, Duke of York, was arrested by the British police on suspicion of misconduct while in public office, linked to his dealings with convicted sex offender Jeffrey Epstein, including the recently released, shockingly graphic images of him in compromising positions.The arrest took place at his residence on the Sandringham estate in Norfolk as investigators searched properties tied to the case.STORY CONTINUES BELOW THIS ADThis is not merely another chapter in the long, sordid Epstein saga; it is something far more consequential. It is the moment the British…