Jitu Thakar

India's government is urging citizens to cut petrol and diesel use. This comes as the Strait of Hormuz situation tightens and global oil prices climb. Prime Minister Narendra Modi has appealed for reduced consumption. Public transport and electric vehicles are encouraged. Fuel supplies remain stable for consumers. However, state-owned oil companies face significant losses.

The SIR of electoral rolls became one of the most fiercely debated issues in the 2026 West Bengal assembly elections, with the exercise significantly reshaping the state’s voter base before polling. Nearly 91 lakh names, around 12 per cent of the electorate, were removed during the revision process. Of these, more than 60 lakh voters were marked as deceased, while nearly 27 lakh cases remained pending or under scrutiny.

India has successfully test-fired the 5,000 km-range, nuclear-capable Agni-5 missile with an MIRV system, joining an elite group of nations including the US, Russia, and China

AIADMK faces internal turmoil following a significant electoral defeat in Tamil Nadu, with divisions surfacing over leadership and potential support for the new TVK government. MLAs arrived in separate groups for the assembly, highlighting a visible rift and raising questions about the party's future cohesion and relevance.

Mumbai Indians skipper Hardik Pandya is sidelined with a back issue, missing consecutive IPL 2026 matches. Head coach Mahela Jayawardene confirmed the ongoing treatment, stating his return is day-to-day. This setback comes as MI, already eliminated from playoff contention, suffered another defeat, highlighting their disappointing season.

Prime Minister Modi urged Indians to halt gold purchases for a year to protect foreign exchange reserves, a call supported by GTRI which highlighted a surge in gold imports straining the trade balance. Union Minister Ashwini Vaishnaw echoed the appeal, emphasizing reduced import spending amid Middle East conflict, leading to a sell-off in jewellery stocks.

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Meta is cutting 8,000 jobs on May 20 as CEO Mark Zuckerberg rebuilds the company around small, AI-powered teams. With capex hitting a record $125–145 billion this year, CFO Susan Li admitted there's no clean answer for what Meta's ideal headcount even looks like anymore. The company wants builders who can ship alone what teams once built together—and is letting everyone else go.

TVK MLA J C D Prabhakar has filed his nomination for the Speaker of the Tamil Nadu assembly, poised for an unopposed election. The 73-year-old, a former AIADMK member, brings significant legislative experience to the role, balancing the ruling combine's youthful image.

Despite global economic headwinds from Middle East turmoil, India's economy is projected for stable growth through FY26 and FY27, with SBI forecasting around 7.5% for FY26. Resilient domestic demand, strong credit expansion, and broad-based improvements in high-frequency indicators support this optimistic outlook, though external vulnerabilities like oil prices and currency movements remain key concerns.