Evening News Rap: India’s fuel bill can increase to $ 12bn if it stops buying Russian oil; The center takes back the income tax bill; More | Bharat News
Today’s Evening News Rap includes updates of national politics, foreign affairs, trade and international security. A report by SBI has shown that India’s fuel bill may increase by $ 12 billion if it stops Russian oil. The Center withdrew the Income Tax Bill in the Lok Sabha and the new bill has been introduced on 11 August. The Election Commission has asked Rahul Gandhi to sign the announcement on the “Vote Chori” claim. Meanwhile, the US reiterated its “direct participation” claim in the India-Pakistan ceasefire. Israel approved the plan to take control of Gaza city.SBI saysAccording to SBI analysis, the closure of the import of Russian oil for the remainder of financial year 26 could increase the fuel bill during the financial year 26, while the financial year may see an increase of $ 11.7 billion due to the 27 price increase.
Since 2022, India has increased rapidly in the purchase of concessional Russian oil, priced under the $ 60-Partial Barrel Cap. The move, adopted after Western restrictions on Moscow on Ukraine’s invasion, was aimed at increasing the country’s energy security amidst transferring global supply lines. Read full storyCenter withdraws income tax bill in Lok Sabha, new bill to be introduced on 11 AugustFinance Minister Nirmala Sitarman withdrew the Income Tax Bill, 2025 in the Lok Sabha, making an announcement that the government would submit a revised version after including the changes proposed by the selection committee. Sources quoted by PTI said that the updated bill is to be introduced in the Lok Sabha on August 11, it would include most of the panel recommendations. Read full storyThe EC asked Rahul Gandhi to sign the announcement on the claim of ‘vote theft’; Congress leaders hit backAfter accusing the voter roll manipulation, Rahul Gandhi, Karnataka’s Chief Electoral Officer (CEO) urged him to provide evidence under the oath – a call that was also repeated by the CEOs of Maharashtra and Haryana.Gandhi hit the pole back on the body, presented five questions and demanded accountability, as he said, “India’s democracy is precious – its theft results will be serious. Now the public is speaking – enough!” Read full storyThe US claimed the India-Pakistan ceasefire, ‘We got directly included’US State Secretary Marco Rubio claimed that Washington “directly joined” during a war between India and Pakistan, we credited US President Donald Trump to play a decisive role in giving peace between two nuclear-skills neighbors.However, India has repeatedly rejected the claims of third-party mediation, which stated that the decision to prevent enmity with Pakistan resulted in direct talks between the directors of the Armed Forces of the two countries (DGMOS) of the Armed Forces of the two countries. Read full storyIsrael approves the plan to control Gaza, starts Troop build-up near the military boundaryThe commercial satellite shows an important construction of Israeli troops and equipment with the imagery Gaza border, with US authorities that indicate possible preparation for a new base in the Palestinian region. According to the office of Prime Minister Benjamin Netanyahu, Vikas Gaza follows the Israeli security cabinet by approving the plan to seize the control of the city, although it stops less than the complete business he suggested earlier. Read full story
