Your Daily Wrap: India surpasses UK to become world’s 5th largest economy; ED raids PayTM, Razorpay and Cashfree; and more | India News,The Indian Express

From Ashok Chavan-Devendra Fadnavis meeting to NASA’s second attempt to launch the Artemis 1 mission, here are today's top stories

Saturday, Sep 03, 2022

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		HomeIndiaYour Daily Wrap: India surpasses UK to become world's 5th largest economy; ED raids PayTM, Razorpay and Cashfree; and more		

							
													Your Daily Wrap: India surpasses UK to become world’s 5th largest economy; ED raids PayTM, Razorpay and Cashfree; and more
													
														From Ashok Chavan-Devendra Fadnavis meeting to NASA’s second attempt to launch the Artemis 1 mission, here are today's top stories
															
					
											
						
														
								
									
										
											
																									
													
														By: Express Web Desk		
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	New Delhi | Updated: September 3, 2022  7:22:19 pm														
													
															
													
												
												


		
		
			
				
			
		
		
			
				
			
		
		
			
				
			
		
		
			
			
			
		
	

											
											
														
														
														
													Clockwise from top left: Commuters cross the Millennium Bridge in view of Tower Bridge in London. (Photographer: Jason Alden/Bloomberg); Senior Advocate and Member of Parliament Kapil Sibal and Attorney General of India K K Venugopal; Kavita Krishnan; Devendra Fadnavis and Ashok Chavan India has surpassed Britain to become the fifth-largest economy in the world, according to the latest calculations by Bloomberg. The calculation is based in US dollars, and India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund (IMF). According to Bloomberg’s forecast, thanks to India’s fast-growing economy, there is likely to be a huge gap between India and the UK within the next few years. A look at five charts that put this development into perspective.

The Enforcement Directorate today raided premises associated with PayTM, Razorpay and Cashfree, payment gateways that allegedly facilitated transactions on loan apps unauthorisedly run by Chinese-owned companies. Some of these companies are also said to be involved in illegal betting. The ED is investigating a case where non-banking financial companies (NBFCs) and their fintech partners allegedly resorted to predatory lending practices, in violation of RBI guidelines.

Every year, the 10-day Ganesha festival in Maharashtra sets the stage for political leaders meeting each other, setting aside ideological differences. This year, however, one such meeting between Deputy Chief Minister Devendra Fadnavis and senior Congress leader Ashok Chavan has left state political circles abuzz. This week, both Fadnavis and Chavan arrived at BJP strategist Ashish Kulkarni’s residence at the same time on Thursday. While the official reason cited by the leaders was that it was a courtesy visit during Ganesh Utsav, the meeting fuelled rumours of political defections and power games. Read Shubhangi Khapre’s report.

During a Town Hall address in Gujarat’s Surendranagar, Delhi chief minister and Aam Aadmi Party (AAP) president Arvind Kejriwal said his party will continue to provide ‘freebies’ to the public. “The BJP can do whatever it wants about it,” Kejriwal said, while also appealing to BJP workers to join the AAP ahead of the upcoming Assembly elections in Gujarat. Kejriwal also promised that if the AAP were voted to power, Rs 10 lakh will be provided to every panchayat from state government coffers. He also promised a fixed monthly salary of Rs 10,000 for sarpanches. Taking a dig at Kejriwal’s poll promises, BJP MP  and Bharatiya Janata Yuva Morcha national president Tejasvi Surya said the youth of Gujarat will not give an inch of space to ‘revdi’ (freebies) politics and bevdi (drunk) politics” of the AAP.

NASA is set to make its second attempt to launch the Artemis I rocket today, at 2:17pm Florida time (11:47 pm IST). But the new moon rocket sprang another hazardous leak, as the lanch team began fuelling it for liftoff on a test flight that must go well before astronauts climb aboard. The initial launch attempt on August 29 had to be called off due to technical issues including a problem with one of the rocket’s four main engines. Follow us as we bring to you live updates on the launch.

https://indianexpress.com/article/india/your-daily-wrap-india-5th-largest-economy-ed-raids-paytm-razorpay-devendra-fadnavis-kapil-sibal-nasa-8129090/


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