Weekly Important News [15-21 Sept]

Fresh SSB batches start around the 1st & 15th of every month.

Referred articles were published in The Hindu.

"Trump hikes H-1B visa fees to $100,000." 

The text explains that the Trump administration has significantly raised H-1B visa fees from a range of $2,000-$5,000 to a flat $100,000, effective September 20. The article mentions this move aims to disrupt the mobility of skilled workers and that the measure is likely to have humanitarian consequences. The measure is being met with concern by industry associations like Nasscom and some Indian politicians.

The image contains an article discussing a new "Strategic Mutual Defense Agreement" between Saudi Arabia and Pakistan. The pact, signed by Saudi Crown Prince Mohammed bin Salman and Pakistani Prime Minister Shehbaz Sharif, pledges that any aggression against one country will be considered an aggression against both. The article explores the significance of this deal, noting it formalizes decades of security cooperation and is seen as a shift in Saudi Arabia's alliances, possibly due to a decline in confidence in the U.S. as a security guarantor. It also touches on the potential for the pact to include Pakistan's nuclear capabilities. A key focus of the article is the impact on India, which views the pact with concern. Analysts suggest the agreement could embolden Pakistan and raise new uncertainties for India's security calculus, as it provides a nuclear-armed rival with a powerful financial backer. The article mentions India's commitment to studying the implications of the deal while reaffirming its own strong relationship with Saudi Arabia.

The provided image is a news article titled "As India and Canada reset ties, NSAs hold talks on security cooperation. "The article reports that the Indian and Canadian National Security Advisers (NSAs) held talks in New Delhi to enhance bilateral cooperation on counter-terrorism and the extradition of Khalistani activists wanted in India. The meeting between India's NSA Ajit Doval and his Canadian counterpart Nathalie Drouin came after a period of strained relations. According to the article, the discussions were a "reset" of ties, focusing on moving past the recent diplomatic row caused by allegations of Indian government involvement in the killing of Khalistani separatist Hardeep Singh Nijjar. Officials from both sides acknowledged that past "stormy meetings" and allegations of "espionage and surveillance by Indian diplomats" had been part of the discussions. The article highlights that both countries agreed to resume talks on trade and address issues that led to the downsizing of their respective diplomatic missions. It also notes that Canada has assured India that there is "adequate security" for its diplomats.

The provided article is titled "EU-India partnership set for upgrade" and discusses the progress in strategic ties between the two entities. According to the article, the European Union (EU) has put forward a "New Strategic EU-India Agenda" to upgrade its relationship with India. The EU's top diplomat, Kaja Kallas, stated that the partnership will expand to include cooperation on trade, technology, security, defense, and climate. She also noted that India's military exercises and continued purchase of Russian oil are growing strategic ties with the EU. The article mentions ongoing negotiations for a free trade agreement between the EU and India. It also highlights the challenges the two sides are facing, including India's reluctance to discuss trade-related issues on a "multilateral order" and the EU's "tough" reputation among Indian trade negotiators. A new round of trade talks is scheduled for October 6.

The article, titled "GST 2.0 – short-term pain, possible long-term gain," discusses the proposed changes to India's Goods and Services Tax (GST) system, referred to as "GST 2.0."The changes, which are set to take effect on September 22, include new tax rates for certain goods and services. The article explains that the revised structure introduces a number of increases and decreases in tax rates, with the goal of improving production efficiency and consumption. The author, C. Rangarajan, former Chairman of the Economic Advisory Council, argues that while the changes may cause a temporary revenue loss in the short term, they could lead to a long-term gain due to increased demand and investment. The article also provides a table that details the proposed rate changes and their expected impact on prices. It also touches on the potential impact on macroeconomic indicators, such as GDP growth and inflation, and how the government's fiscal deficit could be affected.

The provided news article reports that the Indian Prime Minister, Narendra Modi, has inaugurated the country's first bamboo-based ethanol plant in the Golaghat district of Assam. The $7,230 crore facility, located at Numaligarh Refinery, aims to reduce India's dependence on fossil fuels and promote a green economy. Modi stated that the plant will not only boost energy self-sufficiency but also benefit local farmers and tribal communities by sourcing bamboo locally. The article also includes a separate report on the right side of the image, detailing that the government has simplified the revenue procurement process for the armed forces. This new framework, approved by Defense Minister Rajnath Singh, aims to streamline military purchases and reduce delays, supporting the push for self-reliance in defense manufacturing.