Daily Morning Brief - 3 June - Top News updates From India, World, Economy and Odisha

INDIA

1. Maharashtra Clears Farm Loan Waiver for 56 Lakh Farmers

The Maharashtra government has approved a major farm loan waiver scheme aimed at easing financial stress among farmers. Around 56 lakh farmers are expected to benefit, helping improve rural credit access, agricultural investment, and overall financial stability in the state.

2. India Successfully Tests Rudram-II Missile

India successfully test-fired the indigenous Rudram-II air-to-surface missile from a Su-30MKI fighter jet off the Odisha coast. Developed by DRDO, the missile can strike enemy radar and air-defense systems at high speed, significantly enhancing the Indian Air Force’s combat capabilities.

3. India Rejects Third-Party Mediation on Nepal Border Issue

India has firmly rejected calls for external involvement in resolving border disputes with Nepal. The Ministry of External Affairs stated that nearly 98% of the border has already been demarcated and emphasized that remaining issues will be resolved through bilateral diplomatic mechanisms.

WORLD

4. Trump Reportedly Angry on Netanyahu Publicly.

Reports suggest growing political tensions between  US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Differences over strategic decisions and political positions have highlighted the complex relationship between the two leaders amid ongoing regional developments.

ECONOMY

5. India Drops from 5th to 7th in Global Market Cap Rankings

India’s stock market capitalization ranking has slipped from fifth to seventh globally due to market corrections and foreign investor outflows. Despite the decline, analysts believe India's long-term growth prospects remain strong, supported by economic expansion and domestic investment.

6.Government to Introduce Producer Price Index from June 15

India will introduce a Producer Price Index (PPI) from June 15, modernizing its inflation measurement system. The new index will better reflect producer-level prices, include more products and services, and align India’s statistical framework with international standards.

7. LPG Consumption Falls by 20%

Recent data shows a 20% decline in LPG consumption, driven by increased adoption of alternative fuels, expansion of piped natural gas networks, and cost-saving measures by industries and commercial establishments. Experts are monitoring whether the trend continues.

Also Read: Why Odisha Government Prefers Tata, Mahindra and Maruti EVs for Official Use

ODISHA

8. Half of Odisha Liquor Licenses Won by Bihar Applicants

Around 50% of retail liquor licenses allocated through Odisha’s latest lottery system were secured by business applicants from Bihar. The trend reflects growing interest from investors seeking opportunities outside Bihar, where alcohol prohibition remains in force.

9. Odisha Enhances Reservation in Technical Education

The Odisha government has increased reservation quotas in technical and professional education institutions. The revised policy provides 22.5% reservation for STs, 16.25% for SCs, and 11.25% for