BEDMINSTER, N.J.—President Trump warned former right-hand-man Elon Musk to stay out of the midterm elections, threatening “very serious consequences" if he backed Democrats in the campaign.

       Musk, who crossed Trump by staunchly opposing his “big, beautiful" tax-and-spending bill over deficit concerns, said last week that anyone who votes for this bill should be fired. Some Democrats have suggested that they try to win Musk over to their side, despite his being villainized by the party for his sweeping cuts to government staff. The billionaire spent about $300 million backing Trump and Republican candidates in the 2024 elections.

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       New Delhi: The Centre has proposed a key change to the copyright regime by making it mandatory for owners and licensors of literary works, musical works and sound recordings to set up an online mechanism for collection of licence fees, as per a notification issued by the commerce ministry on Thursday.

       The move is aimed at streamlining payments and improving transparency in the way royalties are collected and distributed, especially amid the growing reliance on digital modes of content consumption and public performance.

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       A notification in this regard has been issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry on 5 June, seeking public comments on the draft Copyright (Amendment) Rules, 2025 within 30 days, possibly by 4 July.

       The draft rules insert a new provision—Rule 83(A)—in the Copyright Rules, 2013, requiring that “all payments of such licence fee shall be processed exclusively through said online system," and explicitly barring any alternative mode of payment.

       Stakeholders have been given 30 days to submit their objections or suggestions. Any feedback received within this period will be duly examined by the central government before finalizing the rules, the ministry said.

       The proposal, once finalized, could change the way licensing entities, including copyright societies and aggregators, operate, potentially reducing disputes over manual transactions and non-transparent fee collection. Legal experts said that the amendment reflects a broader policy shift towards digital governance and accountability in the IP rights ecosystem.

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       “The government appears to be moving towards a fully auditable, traceable digital trail for royalty payments, which will benefit both creators and licensees by reducing ambiguity," said Manish K Shubhay, Partner at The Precept-Law Offices.

       However, questions remain over the operational aspects—whether existing copyright societies will be required to revamp their systems or if the change targets individual right holders.

       India has seen a steady rise in content licensing for OTT platforms, radio broadcasters, live events, and public performances, making timely and transparent payments a long-standing demand of creators and music labels. On the proposed draft rule, a senior commerce ministry official said that the amendment was designed to “facilitate efficient royalty flows and curb evasive practices."

       However, the draft rule does not currently specify the format or standards of the online mechanism, leaving room for further clarifications during the consultation process.

       “IPRS welcomes this progressive move aimed at enhancing transparency and streamlining the copyright licensing process. We are pleased to share that IPRS implemented a fully online and digital licensing system nearly five years ago. Today, over 99.5% of our licensing fees for royalties are collected digitally, ensuring ease, accessibility, and transparency for users," said Rakesh Nigam, chief executive officer (CEO) of IPRS (Indian Performing Right Society), a collective rights management organization.

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       "Our licensing tariffs are publicly available on the IPRS website, enabling users to choose the license best suited to their needs with complete clarity. We also maintain a strict no-cash policy, reinforcing our commitment to transparency and efficiency.

       This proposed mandate further aligns with the steps IPRS has already taken and will help standardize best practices across the sector for the benefit of creators, users, and the broader copyright ecosystem."

       New Delhi: India needs to grow by at least 7-8% annually in its pursuit to become a developed country by 2047, chairperson of the Parliamentary Standing Committee on Finance Bhartruhari Mahtab said on Friday.

       He stressed on the need to focus on increasing women's participation in the workforce, particularly in urban areas, and strengthening the education system of the country. Mahtab's remarks followed a briefing by chief economic advisor V. Anantha Nageswaran on the current macroeconomic situation.

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       Mahtab told reporters that Nageswaran apprised the panel, which is a joint committee composed of 21 Lok Sabha members and 10 Rajya Sabha nominees, on the global economic headwinds and other challenges before India.

       Mahtab said, quoting Nageswaran, that India’s economy is progressing steadily and that the current growth rate is “nothing less."

       “In comparison to other developing and developed countries, India is in a safe place," said Mahtab.

       “We are on course (to become a developed nation by 2047) but we would like to increase the pace of our economic growth to a minimum of 7-8% growth. That is our target," Mahtab explained.

       Mahtab also said that Nageswaran emphasised on reforms for accelerating growth.

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       The recommendations of the Parliamentary Standing Committee on Finance influence government's decision making, although they are not binding on the government.

       The monthly economic review for April prepared by the finance ministry had said India has the potential to remain as one of the most promising destinations for investment, amid global uncertainty.

       “Foreign direct investors are likely to respond positively to policies that strengthen the country’s medium-term growth prospects," the review had said. Policies that enhance the skills and productivity of the country’s young workforce can significantly strengthen the virtuous cycle of investment and growth, the review had said.

       On Friday, the RBI said India’s economy is expected to grow at 6.5% in the current financial year with risks evenly balanced. The central bank expressed optimism about farm output growth and rural demand getting further impetus by an above normal southwest monsoon rainfall. The central government’s estimate is of a 6.3-6.8% growth in the current year.

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       The central bank pointed out that sustained buoyancy in services activity should nurture revival in urban consumption. Policy makers are betting on improved balance sheets of banks and corporations, government’s continued thrust on capital expenditure and improved capacity utilisation in factories for a further revival in investment activity.

       The RBI will brief the house panel on 20 June on the central bank’s ‘evolving role in India’s dynamic economy,’ as per the committee’s schedule.