GST Detects 25,000 Fake Firms in Major Tax Fraud

Astronomers have made a groundbreaking discovery with the James Webb Space Telescope, identifying the most distant galaxy ever observed, named RUBIES-UDS-QG-z7. This "dead galaxy" has stopped forming stars, a surprising finding since scientists believed only active star-forming galaxies should be visible from the early Universe. The galaxy, which ceased star formation when the Universe was just 700 million years old, highlights the processes that lead to galaxy formation and "quenching." Understanding these ancient galaxies is crucial as they may hold the secrets to how massive galaxies formed in the early cosmos.

Bengaluru's Sarvam has been chosen to create India’s first sovereign large language model (LLM) under the IndiaAI Mission. This groundbreaking initiative aims to develop an AI model from scratch, capable of reasoning and designed for voice communication in multiple Indian languages. Sarvam will have the necessary resources to ensure this model meets national needs, allowing secure and efficient AI deployment across the country. The company aims to empower Indian talent to create solutions that enhance local innovation and strategic autonomy in AI, ultimately ensuring that interactions with AI feel natural for citizens while keeping data secure within India.

Gold prices have skyrocketed, increasing by ₹1,800 to surpass the ₹1 lakh-mark for 10 grams in India. This surge is driven by local jewellers and stockists buying in anticipation of a spike in demand during Akshaya Tritiya and the wedding season. The price of gold, with 99.5% purity, has reached a record high of ₹1,02,100 per 10 grams. This surge reflects a 29% rise since December 2024. Factors like global economic uncertainty and tensions in international trade are also pushing prices higher. With Akshaya Tritiya on April 30, many are expected to invest in gold, boosting its demand despite rising prices.

Adobe's Firefly AI models are making waves in creative applications, generating over 22 billion assets for users. With new features being introduced, including video generation and an AI clip maker, Adobe is enhancing its tools to compete with others like Canva. The recent Adobe Max London conference highlighted the importance of India as a growing market for Adobe Express, emphasizing tailored offerings and lower entry barriers for users. As generative AI evolves, Adobe aims to seamlessly integrate it into creative workflows, allowing users to create content more efficiently and effectively.

A significant development in India's AI landscape is underway as the government supports Sarvam, a company set to receive 4,000 graphics processing units (GPUs) for six months. This support will enable Sarvam to create a powerful AI model with 70 billion parameters, specifically designed for Indian languages. The model will not be open-sourced but will be optimized locally, showcasing the talent and infrastructure of India. With three variants aimed at different applications, this initiative aims to enhance India's position in AI and promote local innovation, ensuring that AI feels familiar and accessible to Indian users.

Canadians are set to vote on April 28 to choose their next government, following the exit of long-serving Prime Minister Justin Trudeau. The main candidates are Mark Carney of the Liberal Party and Pierre Poilievre of the Conservative Party, each presenting different economic strategies. Carney supports government action to tackle issues like the housing crisis, while Poilievre aims to cut regulations and promote private solutions. Other parties, including the NDP and Bloc Québécois, are also in the race. With 28 million voters and 343 ridings, the election will determine which party secures at least 172 seats for a majority government.

A devastating explosion at Shahid Rajaei port in southern Iran has killed eight people and injured around 750 others. The blast, which occurred near Bandar Abbas, triggered a fire that lasted for hours, leading to helicopter assistance to control the flames. The cause of the explosion is still being investigated, with potential links to mishandled missile fuel shipments. Videos captured before the blast suggested the involvement of a chemical compound, reminiscent of the Beirut port explosion in 2020. Authorities have warned of dangerous air pollution and closed schools in the area as a precaution to protect students.

The Wankhede Stadium pitch is famous for being friendly to batters, making it likely for a high-scoring match. Early on, fast bowlers may get some help from the fresh pitch conditions, but as the game continues, spinners will find it easier with more grip and turn. The weather will start at a warm 34 degrees Celsius, dropping to 31 degrees Celsius later, with humidity around 65% by the end. Clear skies mean no rain is expected. With a history of exciting games, this venue has seen 122 matches where teams often score over 200 runs, making it a thrilling place for cricket fans.

The India Meteorological Department (IMD) has issued a severe heatwave warning for states like Punjab, Haryana, and Rajasthan until April 30. While these regions face rising temperatures, Delhi-NCR will experience cloudy weather, providing some relief from the recent sweltering heat. The temperature in Delhi is expected to hover between 40°C to 42°C, slightly above normal, with occasional winds bringing a bit of respite. Additionally, thunderstorms are anticipated in states such as Uttar Pradesh and West Bengal. As summer intensifies, other regions like Bihar and Tamil Nadu will also see hot and humid conditions.

The Pakistan Army has violated the ceasefire in Jammu and Kashmir for the third time in just three days, raising tensions in the region. On the night of April 26-27, they initiated unprovoked firing across the Line of Control, targeting areas near Tutmari Gali and Rampur Sectors. This escalation follows a recent terror attack in Pahalgam that resulted in the deaths of at least 26 people. Defence experts suggest that these attacks are tactics used by Pakistan to divert the Indian Army's attention. In response, Indian security forces demolished the house of a suspect linked to the Pahalgam attack and arrested two associates of terrorists in Kulgam district.

Akshay Kumar's film Kesari 2 is making waves at the box office, showing a remarkable increase of nearly 73% in earnings on its second Saturday. This surge is largely due to a Buy One Get One free offer, which boosted ticket sales and improved word-of-mouth. Released on April 18, the movie earned ₹7 crore on Day 9 alone, raising its total collection to ₹57.15 crore. With a projected total of about ₹66 crore by the second Sunday, the film is drawing more viewers, indicated by an increase in theater occupancy. The global earnings have reached ₹83.2 crore, with a significant portion coming from overseas markets.

Malayalam film directors Khalid Rahman and Ashraf Hamza were arrested in Kochi for possessing 1.6 grams of hybrid ganja. They were caught during a raid at a flat where they had gathered for discussions about a movie. The Excise Department informed that the trio, which included cinematographer Sameer Thahir, are known drug users. They were found preparing to consume the cannabis when the authorities arrived. After a few hours in custody, all three secured bail. Khalid Rahman is known for films like Alappuzha Gymkhana and Thallumaala, while Ashraf Hamza directed Thamaasha.

Pope Francis passed away at 88 after suffering a stroke on April 21. His funeral saw many notable figures, including former US Presidents Donald Trump and Joe Biden, who were seated among foreign dignitaries in Vatican City. The ceremony sparked a social media frenzy, with images showing Trump appearing to sleep while Biden smiled and interacted with guests. Comments ranged from criticism of Trump's behavior at such a solemn event to questions about Biden's apparent cheerfulness. This juxtaposition of reactions has stirred various opinions, highlighting differing public perceptions of both leaders during this significant occasion.

The US Treasury Secretary, Scott Bessent, has announced that India is on the verge of becoming the first country to finalize a trade agreement with the United States. This deal could help India avoid high tariffs of 26% that are currently on hold until July. Bessent emphasized that trade discussions with India are progressing well because of its low tariffs and minimal trade barriers. The chief negotiators from both nations recently met in Washington to finalize the terms and expedite the agreement. As both countries work closely, this trade deal could significantly boost India's economy.

South Korea has taken action against the Chinese AI startup DeepSeek for improperly transferring user data when its app was available for download. The country's data protection authority revealed that DeepSeek did not get consent from users to send their personal information to several companies in China and the U.S. This violation led to a suspension of new downloads for the app. In response, DeepSeek claimed that sharing data was meant to enhance user experience. The agency has now recommended that DeepSeek halt this data transfer and establish legal protocols for sharing personal information abroad.

Apple is taking a big step by planning to manufacture most of its iPhones sold in the U.S. in India by the end of 2026. This move comes as the company seeks to avoid high tariffs in China, which is currently its main manufacturing hub. In the U.S., Apple sells over 60 million iPhones each year, with about 80% made in China. Although manufacturing costs in India are slightly higher, they are still more manageable compared to the heavy tariffs imposed on China. With suppliers like Foxconn and Tata already operating factories in India, Apple is set to strengthen its presence in the Indian market.

The Enforcement Directorate (ED) has taken significant action against Gensol Engineering Ltd, detaining co-promoter Puneet Singh Jaggi from a hotel in Delhi. This investigation follows a SEBI report that raised concerns about the company's financial practices. Puneet and his brother Anmol Singh Jaggi, who co-founded the electric cab service BluSmart, are under scrutiny for allegedly misusing funds. Instead of using the money for its intended projects, they reportedly diverted it to buy personal assets or through various shell companies. The situation highlights serious issues of financial misconduct in the corporate sector.

Indian residents are sending less money abroad, with remittances dropping by 29% to $1,964.21 million in February 2025. Travel-related remittances fell by over 33%, primarily due to fewer students studying overseas. Many people are also delaying their travel plans because of economic uncertainty. However, investments in foreign stocks increased, indicating a shift in priorities. The Liberalised Remittance Scheme allows individuals to send up to $250,000 yearly for various purposes, including education and healthcare. Despite the decline in travel and study remittances, the overall amount sent abroad was significant, highlighting changing trends in financial behavior.