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PM Modi lands in Washington, D.C. to begin 2-day US visit; Income Tax Bill 2025 to be tabled today: Key changes explained; Tech & more

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PM Modi lands in Washington, D.C. to begin 2-day US visit; Income Tax Bill 2025 to be tabled today: Key changes explained; Tech & more


PM Modi lands in Washington, D.C. to begin two-day US visit

Prime Minister Narendra Modi landed in US in the early hours of Thursday, February 13 (IST), as part of the second leg of his two-nation tour. He will be meeting US President Donald Trump during his visit.The Indian diaspora in Washington, D.C welcomed the PM after he landed.

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During his two-day visit, the Prime Minister will meet the new US President Donald Trump to hold bilateral talks in both restricted and delegation-level formats. The two leaders are likely to discuss key trade and strategic interests, focusing on reducing the trade deficit, reducing import tariffs, strengthening defence ties, and boosting energy cooperation.

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HAL shares likely to see 50% upside from the current market price

Shares of state-run Hindustan Aeronautics Ltd have lost 37% of their value over the last seven months. But the Dalal Street has a consensus target price of ₹5340 per piece, implying a 50% upside from the current market price.

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The stock of defence PSU major ended Wednesday’s (February 12) session at ₹3594.15 on the NSE, down 1.5% from previous day close. The stock has given 14% of its value in 2025 so far, after consistently outperforming in the last five years through 2024.The state-owned defence major on February 12 reported 14% jump in consolidated net profit at ₹1,440 crore for the quarter ended December 2024, driven by sustained demand for its aircraft from the defence ministry. It reported a consolidated net profit of ₹1,261 crore in the year-ago period. The defence PSU’s revenue from operations surged 15% to ₹6957 crore during the quarter.

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Trump says to sign order on reciprocal tariffs today or tomorrow

US President Donald Trump committed Wednesday to announcing “reciprocal tariffs” on other countries, saying he could sign an order for them within a day, a move that could open new fronts in a trade war.

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During election campaigning, Trump had promised: “An eye for an eye, a tariff for a tariff, same exact amount.” Analysts expect reciprocal duties involve hiking tariff rates on US imports to match the rate that exporting countries charge on American products.Speaking in the Oval Office on Wednesday, Trump said that he could sign an order for reciprocal duties later in the day, or on Thursday morning. Analysts have warned that such levies could bring a broad tariff hike to emerging market economies like India and Thailand.


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Income Tax Bill 2025 to be tabled today: Key changes explained

The proposed Income Tax Bill 2025 will be tabled in Parliament on Thursday (February 13). The bill aims to replace the Income Tax Act of 1961 with a more structured and simplified version of tax law. It has already been circulated among Parliament members and may take effect from April 1, 2026, once passed.

Structural overhaul and simplification | The new bill restructures tax law by reducing the number of chapters from 51 to 23. However, the number of sections has increased from 298 to 536. The word count has also been cut by half from the existing 5.20 lakh words, making it concise and easier to interpret.

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Exclusive | Zero tariffs will help India become competitive in chipmaking: US semiconductor body

India should consider zero tariffs on semiconductor manufacturing if it wants to become a significant player in global supply chains, says John Neuffer, President and CEO of the US Semiconductor Industry Association.In an exclusive chat with CNBC-TV18, Neuffer emphasised that while India is on the right trajectory in growing its chip-manufacturing footprint, it is important to have a lower tariff and more conducive trade policy. “US is already getting zero tariff treatment from chip supply chain partners around the world but not from India”, he said. He added that more investments in skilling people — not just in design but actual chip manufacturing — would pay off in the long run.

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Google I/O 2025 set for May 20-21: Gemini, Android 16, and more on the agenda

Google I/O 2025: Google has officially announced the dates for its annual developer conference, I/O 2025, scheduled to take place from Tuesday, May 20, to Wednesday, May 21.

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The event will return to the Shoreline Amphitheater in Mountain View, California, kicking off with a keynote by CEO Sundar Pichai at 10 am PT (10.30 pm IST).This year’s I/O promises a deep dive into Google’s latest products, with a strong focus on artificial intelligence, Android 16, and advancements in web and cloud technologies.

Google has also teased updates on its Gemini AI models, the Gemma open model, Google AI Studio, and NotebookLM.In a new format twist, Google will livestream developer product keynotes from Shoreline across both days, followed by breakout sessions, workshops, demos, and networking opportunities.

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SEBI announces ‘MITRA’ platform to help investors track unclaimed mutual fund folios

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Market regulator Securities Exchange Board of India (SEBI) has launched a new platform, ‘MITRA’ (Mutual Fund Investment Tracing and Retrieval Assistant), to help investors trace their unclaimed or inactive mutual fund folios.

Over the years, many investors have lost track of their investments, particularly those made in physical form with minimal KYC requirements. In some cases, mutual fund folios do not appear in a unit holder’s consolidated account statement due to missing details such as PAN, email ID, or a valid address.Since inactive accounts are vulnerable to fraudulent redemptions, SEBI has directed Registrar and Transfer Agents (RTAs) like CAMS and KFin Technologies to collaborate with Asset Management Companies (AMCs) to launch the ‘MITRA’ platform.

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West Bengal hikes DA by 4%: Who benefits and what it means

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The West Bengal government has announced a 4% increase in dearness allowance (DA) for state employees and pensioners. The hike, effective from April 1, 2025, was revealed in the state budget presented by Finance Minister Chandrima Bhattacharya on Wednesday (February 12).

Dearness allowance is a cost-of-living adjustment provided to government employees and pensioners. It helps them cope with inflation and rising prices.DA is calculated as a percentage of basic salary or pension and revised periodically.

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This Coimbatore company just gave 140 employees ₹14 crore in bonus

An AI startup company from Coimbatore has done what most startups only dream of doing. The company, named Kovai.co, has given a bonus of ₹ 14 crore to its 140 employees.

Kovai.co is named after the city of Coimbatore. This startup provides business-to-business software solutions (SaaS) and was started by Saravanakumar in 2011. Today, this company is providing its services to big corporations like BBC, Boeing and Shell.Its founder, 48-year-old Saravanakumar, belongs to Coimbatore but had moved to London 25 years ago. Saravanakumar said that he was an ordinary IT employee for 10 years, but when he saw a void in the market, he decided to start his own company in his hometown.

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India needs more local investors in alternative investment funds

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A new report by Crisil Market Intelligence and Oister Global has revealed that Alternate Investment Funds (AIFs) investing in private markets have consistently generated superior returns compared to public market equivalents, demonstrating their strong investment potential even during periods of robust public market performance.AIFs have grown 86 times between 2014 and 2024, reflecting a compound annual growth rate (CAGR) of approximately 31.5% over the past five years, according to the report. “The IRR of 21.5% for the aggregate AIF benchmark significantly outperforms the listed market even today. This makes a compelling case for investors considering this asset class,” Sandeep Sinha, Co-Founder and Co-CEO of Oister Global, told CNBC-TV18.


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We’ll see you tomorrow with another 11:11



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Nonprofit sues the federal government over plans to paint Lincoln Memorial Reflecting Pool blue

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Nonprofit sues the federal government over plans to paint Lincoln Memorial Reflecting Pool blue


With a blue sky above the Lincoln Memorial, people walk along the reflection pool in Washington, D.C., on June 9, 2023.

Jose Luis Magana/AP


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Jose Luis Magana/AP

A nonprofit is suing the National Park Service, the Department of the Interior and Interior Secretary Doug Burgum over the decision to resurface the Lincoln Memorial Reflecting Pool at Washington D.C.’s National Mall, and to paint the pool’s basin blue.

The suit was filed Monday in U.S. District Court for the District of Columbia by The Cultural Landscape Foundation (TCLF), an education and advocacy organization. In the suit, TCLF is asking a federal judge to halt the project, saying that the Trump administration failed to have the project reviewed federally, as is dictated by the National Historic Preservation Act.

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President Trump revealed his plans for the pool do-over last month in “American flag blue,” saying that the project would take one week and $2 million, and that it would be completed in time for the 250th anniversary of the Declaration of Independence on July 4. A few days later on Truth Social, the president posted a fake image of himself and several of his administration officials in swimsuits, along with an unidentified woman in a gingham bikini, lounging in the water with the Washington National Monument at the rear. (Swimming in the reflecting pool is prohibited by federal law.)

In a YouTube video posted by the White House on April 23, Trump called the pool “filthy dirty” and said it “leaked like a sieve.” In that video, Trump said he was going to call three companies that he has worked with in the past – “all they do is swimming pools” – and say, “Give me a good price.”

The New York Times reported last Friday that the contract for the reflecting pool’s resurfacing was awarded in a $6.9 million no-bid contract to a company called Atlantic Industrial Coatings, which previously has never held any federal contracts.

An employee at the Atlantic Industrial Coatings confirmed in a telephone call on Monday that it has been contracted for this project, but referred all other questions to the Department of the Interior.

The Times reported on Monday that the final cost of the project could be upward of $13 million, per documents it says it has obtained. The Department of the Interior did not confirm the cost of the project, but wrote: “The contract price reflects the effort necessary to expedite the timeline of completing the leak prevention coating project—more people, more materials, more equipment and longer hours ahead of our 250th.”

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In an unsigned statement emailed to NPR Monday afternoon, the Interior Department wrote: “The National Park Service chose the best company to expedite the repair of the iconic Reflecting Pool ahead of our 250 celebrations. The choice of American Flag Blue will enhance the visitor experience by making the pool reflect the grand Lincoln Memorial and Washington Monument. NPS is also investing in a state-of-the-art ozone nanobubbler filtration system and will now have a dedicated crew who will maintain the grounds’ from wildlife. The Department is proud of the work being carried out by our Park Service to ensure this magical spot can be enjoyed for not only our 250th, but for many generations to come.”

Critics of the project, including TCLF, don’t share that vision – and are taking particular umbrage at the color.

“The reflecting pool should not be viewed in isolation; it is part of the larger ensemble of designed landscapes that comprise the National Mall,” Charles A. Birnbaum, the president and CEO of TCLF, said in a statement emailed to NPR Monday. “The design intent, to create a reflective surface that is subordinate, is fundamental to the solemn and hallowed visual and spatial connection between the Washington Monument and the Lincoln Memorial. A blue-tinted basin is more appropriate to a resort or theme park.”

The National Park Service regularly cleans out algae, goose droppings and other detritus from the reflecting pool. The last major renovation of the reflecting pool, which included the installation of a new circulation and filtration system, took place during the Obama administration at a reported cost of $34 million.

Before founding TCLF in 2008, Birnbaum served for 15 years as the coordinator of the Historic Landscape Initiative for the National Park Service.

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TCLF has another open lawsuit against the federal administration: it is one of eight cultural and architecture groups currently suing President Trump and the Kennedy Center board over the planned renovations of the complex, which are planned to start in July.



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K-9 Knox to be honored at ceremony in Washington, D.C. on Monday

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K-9 Knox to be honored at ceremony in Washington, D.C. on Monday


The memorial service will be held at the National Law Enforcement Officers Memorial at 1 p.m.

A brave K-9 hero from the region will be honored at the Annual National Police K9 Memorial Service on Monday afternoon. (Roanoke Police Department)

WASHINGTON D.C. – A brave K-9 hero from the region will be honored at the Annual National Police K9 Memorial Service on Monday afternoon.

K-9 Knox died in the line of duty last year after he was accidentally hit by a police vehicle while pursuing a suspect involved in a stolen vehicle incident. He was a 3-year-old German shepherd and had served as a narcotics detection and patrol apprehension K-9 for the Roanoke Police Department since May 2023.

The memorial service will include a wreath-laying ceremony and will be held at the National Law Enforcement Officers Memorial in Washington, D.C., at 1 p.m. The event will open with a musical performance by Frank Ray, and the guest speaker will be Deputy Jared Hahn of the Miami-Dade Sheriff’s Office K-9 Unit.

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The San Antonio Police Department Blue Line Choir will sing the national anthem, and the Emerald Society Pipes & Drums band will also perform.




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Storm Team4 Forecast: Showers, cool temps to start off the workweek

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Storm Team4 Forecast: Showers, cool temps to start off the workweek


4 things to know about the weather:

  1. Shower chance Monday morning
  2. Cooler Monday
  3. Midweek rain chance
  4. Warmer end to the week

Showers continue to move west with a cold front tonight. There will be a break in the rain overnight, but showers return for the start of the day on Monday. Monday afternoon will be dry, but noticeably cooler.

Sunshine returns Tuesday, but the break in the rain will be short-lived with rain chances on Wednesday

Download the NBC Washington app on iOS and Android to check the weather radar on the go.

QuickCast

TONIGHT:
Showers early
Mostly cloudy
Wind: N 5-10 mph
LOW: Low 50s

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MONDAY:
Morning shower chance
Wind: N 5-10 mph
HIGH: Upper 60s

TUESDAY:
Sunny
Wind: N 5-10 mph
HIGH: Near 70°

WEDNESDAY:
Shower chance
Wind: S 5-10 mph
Gusts at 20 mph
HIGH: Low 70s

SUNRISE: 5:59 a.m.    SUNSET: 8:10 p.m.
AVERAGE HIGH: 75°   AVERAGE LOW: 56°

Stay with Storm Team4 for the latest forecast. Download the NBC Washington app on iOS and Android to get severe weather alerts on your phone.

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