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Shri Deepinder Singh Hooda (Deepender Singh Hooda) simultaneously used the word “Vyapar Ghaata” and “Current Account Deficit”. Both these terms do not mean the same. It is very important to understand that we take both these terms seriously but separately. At the end of June 2025, India's Current Account...

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Even by an accountant’s standards, it was a poor account of the management of the finances in 2025-26. Revenue receipts were short by Rs 78,086 crore, total expenditure was short by Rs 1,00,503 crore. Revenue expenditure was short by Rs 75,168 crore and capital expenditure was cut by Rs 1,44,376 crore (Centre Rs 25,335 crore and States Rs 1,19,041 crore). Not a word was said to explain this miserable performance. Actually, the Centre’s capital expenditure has fallen from 3.2 per cent of GDP in 2024-25 to 3.1 per cent in 2025-26. In revenue expenditure, the cuts have fallen in heads that concern the common people. Examples: ⦁ Rural Development: Rs 53,067 crore ⦁ Urban Development: Rs 39,573 crore ⦁ Social Welfare: Rs 9,999 crore ⦁ Agriculture: Rs 6,985 crore ⦁ Education: Rs 6,701 crore ⦁ Health: Rs 3,686 crore Funds have been cut in crucial sectors and programmes. Expenditure on the much-vaunted Jal Jeevan Mission was cruelly cut from Rs 67,000 crore to a paltry Rs 17,000 crore. (In 2026-27, it has been boosted to Rs 67,670 crore, but what credibility does the number have?) After the months-long exercise, the revised estimate of the fiscal deficit has adhered to the budget estimate of 4.4 per cent, and the projection for 2026-27 is that the fiscal deficit will fall by a meagre 0.1 per cent of GDP. The revenue deficit will remain at 1.5 per cent. It is certainly not a bold exercise in fiscal prudence and consolidation. The most serious criticism of the Budget speech is that the Finance Minister is not tired of adding to the number of schemes, programmes, missions, institutes, initiatives, funds, committees, hubs, etc. I counted at least 24. I leave it to your imagination how many of these will be forgotten and vanish by next year. : Former Finance Minister Shri P. Chidambaram

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Between 2012 and 2024, Somali piracy was effectively neutralized, with no major attacks reported for years. But that has changed. In 2025, the waters off the Horn of Africa are once again becoming a hotspot. In 2025, Somali pirates are re-emerging, taking advantage of the chaos created by the Houthi attacks in the Red Sea and the drawdown of international naval patrols. Between January and June 2025, there were at least 7 reported attacks on commercial vessels, including the hijacking of the MV Abdulla in March, whose 23 crew members were held for ransom. By mid-2025, the number of incidents had surpassed the total recorded in all of 2024, which had seen a near-complete lull. A hijacking of a fishing vessel in April 2025 further demonstrated the pirates' ability to adapt and operate. The hijackings of 2025 have driven up the cost of the "war risk" insurance premiums for vessels transiting the region, with the average premium rising to 1.2% of the vessel's hull value in April 2025. This is significantly higher than the 0.5% to 0.7% rate seen just six months earlier. The cost of ransoms has also risen, with the MV Abdulla reportedly being held for a ransom of $5 million. These numbers reflect the pirates' ability to command a premium. Somali piracy has never been a random phenomenon. It has been fueled by the collapse of the Somali state, the absence of effective governance, and the immense wealth flowing through the Gulf of Aden. The 2025 resurgence is a direct consequence of the geopolitical instability caused by the Red Sea crisis, which has allowed the pirates to exploit the chaos and the reduced naval presence. Beyond the financial cost, there is a human cost. The hijackings of 2025 have led to the detention of at least 23 crew members, and the potential for violence remains high. The Somali pirates are not just robbers; they are a symptom of a failed state and a testament to the desperation of a population that has been abandoned by its leaders. Somali piracy is not a myth. It is a real and dangerous phenomenon. But it is also a symptom of a deeper problem, a failed state, a collapsed economy, and a population that has been left with few options. The pirates are not just criminals they are the product of a society that has been destroyed by its leaders. And until Somalia is rebuilt, the piracy will continue. South Africa is not the enemy. Somalia's leaders are. And it is time the world held them accountable for the chaos they have created.

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