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Nobel laureate Esther Duflo, Raghuram Rajan, Arvind Subramanian named in Tamil Nadu CM’s economic advisory panel

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Raghuram Rajan

The Tamil Nadu government on Monday named Nobel laureate Esther Duflo and former Reserve Bank of India Governor Raghuram Rajan as part of a five-member Tamil Nadu Chief Minister MK Stalin’s economic advisory council.

The other members in the council are former Chief Economic Adviser Arvind Subramanian, development economist Jean Drèze and former Union Finance Secretary S Narayan.

The advisory council is being formed to guide Tamil Nadu Chief Minister MK Stalin to chart out inclusive economic growth for the state managing the state’s economic and social policies.

Establishment of the new council comes days after Chief Minister Stalin met Prime Minister Narendra Modi in Delhi.

In his ceremonial address during the first session of the 16th state legislative assembly in Chennai on Monday,  Governor Banwarilal Purohit said the newly-elected Tamil Nadu state government will constitute an economic advisory council to the chief minister with leading economic experts from all over the world as its members.

Governor announced the council while addressing the state Assembly at its first sitting since the Dravida Munnetra Kazhagam-led government assumed power.

Purohit said based on the recommendations of this council, the government will revitalise the state’s economy and ensure that the benefits of economic growth reach all segments of society.  He said the government will focus on improving the fiscal position and bringing down the debt burden. A white paper detailing the true state of Tamil Nadu’s finances will be released in July.

Purohit said the economic advisory committee and other groups will study the financial situation of the state and changes will be made accordingly to make the state’s economy stronger. Purohit concluded his speech by saying DMK-led government will be a people’s government and not the party’s.

This will be the first step towards bringing down the overall debt burden and improving the fiscal position, the governor said. The state government said the council will meet in person, or virtually, to fulfill its responsibilities and will decide its own operational modalities to achieve its objectives.  

In its notification, the state had said that the fiscal situation of Tamil Nadu is precarious with persistent high revenue and fiscal deficits and a large overhang of debt. At the same time, expectations of people are very high that the government will deliver on faster economic growth, social justice and equality in the state.

The state government has a Rs 5 lakh crore debt and interest payment for this is a huge challenge, particularly amid the pandemic.

Read Also: Chirag Paswan accuses Nitish Kumar of anti-Dalit mentality, says will expose true face of Kumar

Ahead of the April election the DMK had promised a cut in fuel prices, a monthly allowance of Rs 1,000 for housewives and waiver of student educational loans, none of which were mentioned by the Governor in his address.

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Sharad Pawar terms Ajit Pawar’s vote or no funds remark inappropriate

Sharad Pawar criticised Ajit Pawar’s ‘vote or no funds’ comment, calling it inappropriate, while also seeking stronger financial relief for affected farmers.

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NCP (SP) chief Sharad Pawar on Thursday criticised Maharashtra Deputy Chief Minister Ajit Pawar for urging voters to support his party candidates with the promise of assured development funds. Calling the comment unacceptable, Sharad Pawar said seeking votes on monetary assurances undermines democratic values.

Sharad Pawar questions fund-linked appeal for votes

Speaking to reporters in Baramati, the senior Pawar said it was “not appropriate” to ask people to vote based on financial commitments.
Ajit Pawar had recently told voters in Malegaon, Baramati tehsil, that his party would ensure no shortage of funds if its candidates were elected, but if voters rejected them, he would “reject” too.

Sharad Pawar said, “Instead of asking for votes based on work, the appeal is being made on the basis of financial assurances. This is inappropriate. If the only goal is to win elections using financial factors, then such comments are unnecessary.”

Local body elections across Maharashtra are scheduled for December 2.

Farmers’ aid ‘not enough’, says Pawar

Sharad Pawar also criticised the state government’s response to farmers who suffered damage due to recent heavy rains and floods. He noted that the loan recovery pause for one year may offer temporary relief but will not be effective in the long term.

“Looking at the losses, the state should have provided partial financial aid to farmers. That would have helped adequately,” he said.

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Shaheen Saeed taken to Al Falah University as NIA probes Delhi blast links

The NIA took Delhi blast accused Shaheen Saeed to Al Falah University for on-site interrogation, examining her movements, visitors, and alleged links to a wider terror network.

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Shaheen Shahid

The National Investigation Agency (NIA) on Thursday took accused Shaheen Saeed to Al Falah University in Faridabad as part of its investigation into the deadly blast near Delhi’s Red Fort earlier this month. The explosion had claimed 15 lives and triggered a nationwide probe into what authorities say was a terror network linked to Jaish-e-Mohammed (JeM).

Shaheen, earlier addressed as a doctor, worked as a professor at the university and was allegedly involved in forming a team of “terror doctors,” according to officials. Her designation was subsequently removed after the case surfaced.

NIA questions Shaheen on campus movement, visitors

Investigators escorted Shaheen to multiple locations inside the university, including room number 22 where she stayed, her cabin, and the classrooms she used while teaching.
In the presence of university staff, the NIA asked her who visited her on campus and facilitated a meeting between her and the vice-chancellor.

Shaheen, originally from Lucknow, was reportedly given the task of setting up the women’s wing of Pakistan-based JeM in India.

“Terror couple” operated from campus to Mewat, say investigators

Co-accused Muzammil Shakeel Ganai told investigators that he and Shaheen were legally married in 2023, with the ceremony held at a nearby mosque. Both allegedly worked together to build a terror network extending from the university to the Mewat region.

Officials said Shaheen’s main role involved recruiting individuals, especially women, into the network.

Later on Thursday, the NIA took her to Khori Jamalpur in Faridabad, where she and Muzammil had rented a flat. She was subsequently brought back to Delhi.

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PM Modi highlights Gen-Z’s role in driving India’s space and startup revolution

PM Modi credited India’s Gen-Z for energising the nation’s private space revolution and expanding the startup ecosystem across multiple sectors.

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Prime Minister Narendra Modi today underlined the growing influence of India’s Gen-Z in shaping the country’s space ambitions and broader startup ecosystem. Speaking at the virtual inauguration of Skyroot Aerospace’s Infinity Campus in Hyderabad, he said that whenever India opens new avenues, the youth—especially Gen-Z—step forward with determination and prioritise national interest.

Gen-Z powering India’s private space momentum

PM Modi noted that over 300 space startups are now fuelling rapid growth in the sector. Many began as small teams working from modest spaces, he said, yet their determination led to breakthroughs in propulsion systems, composite materials, rocket stages and satellite platforms—areas once out of reach for Indian startups.

He described this enthusiasm as the driving force behind India’s private space revolution, crediting young engineers, coders, designers and scientists for pushing boundaries.

Startup boom expanding across sectors

Linking space-sector growth with India’s wider entrepreneurship wave, the Prime Minister said that young innovators—particularly Gen-Z—are actively contributing in areas like FinTech, AgriTech, HealthTech, ClimateTech, EduTech and DefenceTech.

He appreciated their “creativity, positive attitude and ability,” saying their approach could inspire young people around the world.

India now third-largest startup ecosystem

PM Modi highlighted that India has crossed 1.5 lakh registered startups, making it the world’s third-largest startup hub. Importantly, he said, innovation is no longer limited to major cities, with startups rising from smaller towns and rural regions as well.

PM Modi unveils Vikram-I

During the event, the Prime Minister also unveiled Skyroot’s first orbital rocket, Vikram-I, capable of launching satellites into orbit. The company’s newly inaugurated Infinity Campus features around two lakh sq. ft. of workspace for designing, assembling and testing multiple launch vehicles, with the capacity to produce one orbital rocket every month.

Skyroot, founded by IIT alumni and former ISRO scientists Pawan Chandana and Bharath Dhaka, earlier made history in November 2022 by launching Vikram-S, becoming the first Indian private company to send a rocket to space.

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