India This Week ~ May 13, 2022
India This Week ~ May 13, 2022
India This Week - Summary
PM Modi Meets with French President Macron
During a meeting with French President Macron, PM Modi discussed various bilateral issues including defence cooperation, space, and civil nuclear cooperation. The two leaders also talked about regional and global issues, highlighting the strong strategic partnership between India and France. The discussions covered a wide range of topics, emphasizing the importance of cooperation and people-to-people linkages.
Rupee hits record low
The Indian rupee hit a record low against the US dollar amid foreign fund outflows following the Federal Reserve's policy interest rate hike. The currency closed at 77.50 against the dollar, marking a significant decline. The strengthening of the US dollar post the rate hike contributed to the rupee's depreciation, with concerns about the impact on the Indian economy.
Supreme Court puts sedition law on hold
In a historic move, the Supreme Court ordered the suspension of Section 124A of the Indian Penal Code, which criminalizes sedition, until a review of the law is completed by the government. The court directed the Centre and States not to register any cases under this section and allowed individuals already booked under it to seek bail. The decision aims to address concerns about the misuse of the sedition law and protect citizens' civil liberties.
