Symbolic Image (Photo Credit: AP)

Iran’s annual inflation rate reaches its highest level since World War II In May, the crisis highlighted the deepening economic crisis facing ordinary citizens as the country grapples with conflict, sanctions and long-standing structural problems.According to data released by Iran’s Central Bank, the consumer price index rose 77.2 percent year-on-year in May, while monthly inflation rose 8.5 percent compared with April. Prices of everyday necessities, including medicine, taxi fares, tobacco and communication services, rose 113.8 percent from a year earlier.The figures mark the first official acknowledgment of the severe inflationary pressures already being felt by Iranians, many of whom have seen the cost of basic goods and services rise amid a sharp decline in the value of the national currency.The Bamdad Institute of Economic Studies, a private Iranian think tank, described the inflation rate as “an unprecedented rate since World War II.”War, sanctions and economic stressAccording to the Associated Press, economists say the surge in prices reflects the combined effects of war-related disruptions, U.S. sanctions and years of economic mismanagement.Iran’s oil industry and businesses have suffered significant damage following recent military attacks, while US measures targeting Iranian oil exports have further reduced a major source of revenue for the government.Tax collections have also come under pressure as businesses struggle to recover from months of economic uncertainty.The past decade has seen a dramatic decline in the Iranian rial, falling from about 32,000 rials against the US dollar in 2015 to more than 1.7 million rials per dollar today.Iranian President Massoud Pezeshkian had earlier warned citizens that further price increases were likely. “We will definitely have higher prices,” Pezeshkian said in May. “We are fighting and we have to accept this difficulty,” he said.Is another crisis looming?The deteriorating economic situation has revived concerns about the possibility of new anti-government protests. There have been large demonstrations in Iran in recent years due to economic grievances.Rising food prices sparked protests in 2017 and 2018, while rising prices of subsidized fuel also led to widespread unrest, which reportedly left hundreds dead.Earlier this year, protests over the falling rial currency became the most intense demonstrations in Iran since the 1979 revolution and the turbulent years that followed.Analyst Mohsin Jalilvand warned that if the economic situation continues to worsen, social tensions could increase further. “I have no doubt that if Trump goes to (Iran) without a formal peace deal… then potentially, we will see something like January by the end of the summer because of the economic and social conditions,” he said in comments published by Iranian news website Fararu.Meanwhile, some economists say inflation could climb further. Tehran-based economist Saeed Lilaz told The Associated Press that annual inflation could reach 80 percent in the coming months. “Iranian society cannot tolerate annual inflation of more than 25 percent,” he said.

(Photo shared by Rahul Gandhi on X)

congress leader Rahul Gandhi Jharkhand student on Tuesday met Sarthak Siddhant, who had recently presented his findings before a parliamentary panel on alleged irregularities in CBSE’s online marking system. Sharing pictures of the meeting on social media, Gandhi praised the student and wrote, “Sarthak, stay firm on your principles. #TenderInvestigator”.The meeting took place hours after Siddhant, who appeared for the CBSE Class 12 exams this year, briefed the Parliamentary Standing Committee on Education, Women, Children, Youth and Sports about alleged anomalies in the tender process used to select vendors for the board’s on-screen marking (OSM) system.Siddhant presented a seven-page document before the committee headed by Congress MP Digvijay Singh, in which he highlighted irregularities in the vendor selection process and raised several questions for CBSE officials. His presentation was made in the presence of CBSE Chairman Rahul Singh, School Education Secretary Sanjay Kumar and other senior officials of the Education Ministry.The parliamentary panel had summoned CBSE and Education Ministry officials amid growing concerns over the OSM system, which has been the center of complaints from students about technical glitches, assessment discrepancies and difficulties during the post-result verification process.During the meeting, members also raised questions on the board’s preparedness before starting online marking, including concerns over system testing and teacher training. Some MPs reportedly demanded accountability for the problems faced by students and suggested measures such as compensation through grace marks or faster evaluation.CBSE officials told the committee that the technical issues affecting the system have been fixed and students will have time till June 6 to apply for revaluation of their answer sheets. The Board also submitted a report outlining its position on the controversy.After the meeting, Digvijay Singh said that the focus of the committee is to address the concerns of the students. Asked whether he was satisfied with CBSE’s responses, he replied, “It is for the committee to decide.”

Kolkata/Howrah: Arrests, FIRs, resignations and administrative upheavals in several municipal corporations and municipalities in Bengal have raised concerns over the functioning of civic bodies and delivery of services.This tension is most evident in the Trinamool Congress-run KMC, where the civic board has become almost “defunct” due to the Mayor-in-Council not holding meetings. The crisis began with the resignation of Borough IX president Deblina Biswas, and intensified after Sushant Ghosh and Arup Chakraborty stepped down as Borough President (Borough XII) and KMC Accounts Committee member, respectively.The situation worsened on Tuesday when MMIC Tarak Singh, in-charge of KMC’s sewerage and drainage, resigned and submitted his letter to Municipal Corporation Commissioner Smita Pandey. Although as per KMC rules the MMIC has to send a resignation letter to the mayor, Singh said the municipal commissioner had asked him to reconsider before the monsoon. Singh alleged that he could not work independently and said he was “feeling bad” for failing to take “effective” steps ahead of the rainy season.Deputy Mayor Atin Ghosh said the KMC health department needs a comprehensive pre-monsoon plan to deal with dengue and malaria. At the ward level, councilors have largely stopped working, alleging that they are not being “helped” by the civic authorities. A senior Trinamool functionary said many councilors have been kept indoors due to fear of arrest, adding that the arrest of city president Sudip Poli and councilor Sachin Singh has “sent a message to others”. FIRs have been lodged against at least six other councilors – Baiswanor Chattopadhyay (Ward 91), Mala Roy (Ward 88), Sushant Ghosh (Ward 108), Shanti Ranjan Kundu (Ward 32), Jui Biswas (Ward 81) and Ashutosh Das (Ward 35).In Bidhannagar Municipal Corporation (BMC), legal cases have entangled councilors and civic officials. Four out of 41 councilors have been arrested on charges including extortion and threats. An MMIC and his wife, a former MLA, have secured interim protection from arrest till June 19. The husband and brother-in-law of another MMIC – a former councilor in Baguiati area – have also been arrested.Monthly MMIC and board meetings of BMC have not been held since the formation of the new BJP government in the state. Bidhannagar MLA Sharadwat Mukherjee described the situation as “missing (missing) councillor”.South Dum Dum Municipality has not seen resignations, but civic functioning has been jolted by the death of councilor and chairman-in-council member Sanjay Das, who was found hanging in his apartment on May 23. Two other councilors – Mrinmoy Das and former chairman-in-council member Partha Verma – were recently arrested on charges of extortion, assault and criminal intimidation.In North Dum Dum Municipality, civic services were disrupted after hundreds of temporary employees staged a week-long protest demanding equal pay for equal work, timely salaries and regular EPF deposits.Howrah Municipal Corporation (HMC), the state’s second largest civic body, continues without an elected board. The last elections were held in 2013 and the term of the board ended in 2018. Chief Minister Suvendu Adhikari appointed a chief administrator to oversee both the HMC and Bally Municipality, which is also without an elected civic body since 2018.Residents of Howrah and Bally have repeatedly complained of inadequate civic services, alleging that the prolonged absence of elected representatives has weakened accountability and affected service delivery.The disruption is most visible in Barrackpore Industrial Area, where civic boards have collapsed due to mass resignations in Bhatpara, Kanchrapara, Halisahar, Garulia and North Barrackpore. About 115 councilors including five municipality presidents have resigned.

Air India building at Nariman Point in Mumbai

Mumbai: Three years after the plan was approved by the Cabinet, the state government on Tuesday took over the Air India building at Nariman Point.Chief Minister Devendra Fadnavis Presided over the deed of surrender between the state Public Works Department and Air India Assets Holding Limited, which owns the building.“This will not only save rent but will also bring together offices,” Fadnavis told TOI. In 2023, the state cabinet had approved a plan to purchase the Air India building to expand the ministry and create state government offices there.The cabinet had decided to waive off all unearned income, transfer charges and other penalties of Air India so that the state government can take possession of the building soon.The state government paid Rs 1,601 crore for the building. The acquisition will provide 46,470 square meters of space for government offices in the 22-storey building.Officials said the state government would save about Rs 200 crore in annual rent if all the offices currently located in private buildings are shifted to the Air India building.Officials said it would take more than six months to make the building usable. The lifts are not working and a lot of interior work needs to be done. Even the central air conditioning system is not working as the building is more than 50 years old.The building opened on June 1, 1970. Designed by Manhattan-based architect John Burgi, it was one of the first centrally air-conditioned skyscrapers in India. The 23-storey tall building had six state-of-the-art elevators with piped music and was the first building in India to install escalators, which took customers from the street to the main booking office.Initially topped by an illuminated metal centaur (Air India’s trademark logo chosen by founder JRD Tata), the building stood as an unmistakable centerpiece of the Marine Drive skyline. It housed the famous Air India Art Collection, which was carefully curated over decades. The building was the target of a series of bombings on March 12, 1993, when a car bomb detonated in the basement garage.In 2022, Fadnavis, who was then the Deputy Chief Minister, met the then Civil Aviation Minister Jyotiraditya Scindia And urged them to give priority to the state government for the building. apart from the state government reserve Bank of India (RBI) was said to be in a race to buy the building.Fadnavis had said that the state government was facing shortage of space for government offices in the ministry and annexe buildings. He said, “Met Union Minister Jyotiraditya Scindia in New Delhi and requested to give the Air India building in Mumbai to the state government. At present, even with the ministry and an auxiliary building, the space for government offices is inadequate, hence this building was demanded. We had made this proposal when I was the chief minister.” But in the meantime that proposal was withdrawn. After this we corresponded again. At present, both the Reserve Bank and the Maharashtra government have demanded this space,” Fadnavis had said in a tweet.Officials said the state had leased the sea-facing property to Air India in 1970 for a 99-year tenure. Officials said that as per land transfer rules, the state revenue department was entitled to charge transfer fee (or unearned income) during transfer of lease, which would have been about one-eighth of the market value.“Air India had then also sought exemption from this payment as a special case, which was approved,” an official said.