Among the top news of the day is the latest update related to the Air India Boeing crash in Ahmedabad. The Aircraft Accident Investigation Bureau is set to release its preliminary report next week, according to people familiar with the matter.
Back home, the Union Cabinet approved an employment linked incentive scheme with a budget outlay of nearly Rs 1 lakh crore, set to provide employment to over 3.5 crore individuals. The Goods and Services Tax collections for June 2025 rose to Rs 1.85 lakh crore, marking a 6.2% increase compared to Rs 1.73 lakh crore collected in June 2024, indicating steady economic momentum.
Here’s a quick roundup of today’s key headlines:
Air India Crash: AAIB To Release Report Next Week
The Aircraft Accident Investigation Bureau, who is leading the investigation into the June 12 Air India plane crash in Ahmedabad, is set to release its preliminary investigation report into the deadly accident by July 11, according to people familiar with the matter. This report, a 4–5-page document, will offer the first official insights into the circumstances surrounding the incident.
CCI Launches Probe Against Asian Paints
The Competition Commission of India launched a formal investigation against Asian Paints Ltd. on Tuesday after allegations of abuse of its dominant position in the decorative paints markets. The development comes following a complaint by the Birla Opus Paints division of Grasim Industries Ltd., the flagship company of the Aditya Birla conglomerate, the CCI said in its release on its website.
US Markets Today: Wall Street Retreats From Record High
The US stock market fell on Tuesday after they began the shortened week higher as investors monitor the progress in trade negotiations. This comes after the broader index hit a record high last Friday and scaled a fresh high on Monday. The S&P 500, in the early minutes of trading, fell over 0.27%, whereas the tech-heavy Nasdaq Composite and Dow was down 0.40% and 0.16%, respectively ahead of Fed Chair Powell's speech.
Donald Trump May Deport Elon Musk, If He Feels Like
President Donald Trump said he would look into deporting billionaire Elon Musk in response to a question about the ally-turned-critic of his signature tax and spending legislation. “I don’t know,” Trump told reporters at the White House on Tuesday when asked if he would deport the South African-born entrepreneur and US citizen, before adding that “we’ll have to take a look.” The president’s comments are the latest salvo in a renewed feud between Trump and the world’s richest person, who has ramped up his criticism of a Republican tax bill that expedites the end of a consumer credit for electric vehicle purchases.
Reverse Merger On The Cards For JSW Paints?
JSW Paints Ltd., one of India's fastest-growing paint companies, is doubling down on scale and ambition with its acquisition of AkzoNobel's Dulux India operations. A reverse merger of the entity with JSW Paints is on the cards once synergies are realised and approvals come through, says Managing Director Parth Jindal.
June GST Collection At Rs 1.85 Lakh Crore
The Goods and Services Tax collections for June 2025 rose to Rs 1.85 lakh crore, marking a 6.2% increase compared to Rs 1.73 lakh crore collected in June 2024, indicating steady economic momentum. Despite the yearly uptick, the collections are down 8.2% sequentially, as the GST mop-up in May came in at Rs 2.01 lakh crore.
Cabinet Okays Rs 1-Lakh-Crore Incentive Scheme
The Union Cabinet on Tuesday has approved an employment linked incentive scheme with a budget outlay of nearly Rs 1 lakh crore, as per a government release. The scheme aims to create over 3.5 crore new jobs over the next two years, with a strong emphasis on the manufacturing sector and first-time workers.
Maruti Suzuki Sales Down 6% In June
Car maker Maruti Suzuki India Ltd. reported on Tuesday a 6% decrease in total sales at 1.68 lakh units in June as against 1.79 lakh units in the same period last year. The company said its domestic sales decreased 12% during the month to 1.3 lakh units as against 1.5 lakh units in June 2025. Sales of mini-segment cars, including Alto and S-Presso, decreased 37% to 9,395 units as compared to 6,414 units in the year-ago month, Maruti Suzuki said in an exchange filing.
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