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Emilia Perez, The Brutalist lead Golden Globe film nominationsElection tensions mount as Delhi Lieutenant Governor V.K. Saxena probes into Congress leader Sandeep Dikshit's serious allegations. Dikshit claims Punjab intelligence agents are surveilling him, and significant cash transfers from Punjab to Delhi are anticipated ahead of the Assembly elections. In response, AAP accused BJP and Congress of collaborating to discredit Arvind Kejriwal. Meanwhile, Delhi Congress chief Devender Yadav condemned the alleged actions, claiming Kejriwal is using underhanded tactics due to fear of electoral defeat. The LG ordered heightened border checks and vigilance on cash inflows, with cooperation from neighboring states to prevent election malpractice. This development comes as AAP and Congress face off as rivals in the upcoming Delhi election, despite their partnership in the INDIA bloc. (With inputs from agencies.)
PCN: Interest Rates And Inflation Likely To Pressure Bonds And Bond FundsEfforts by New Mexico to save and invest portions of a financial windfall from local oil production are paying off as state government income on investments surpasses personal income tax collections for the first time, according to a new forecast Monday. General fund income from the state's two, multibillion-dollar permanent funds and interest on treasury accounts is expected to climb to $2.1 billion for the fiscal year between July 2024 and June 2025, surpassing $2 billion in revenue from personal income taxes. The investment earnings are designed to ensure that critical programs — ranging from childcare subsidies to tuition-free college and trade school education — endure if oil income falters amid a possible transition to new sources of energy. At the same time, legislators this year revised personal income tax brackets to lower taxes in the nation's No. 2 state for oil production behind Texas . “We’re not a poor state anymore,” said Democratic state Sen. George Muñoz of Gallup. “We’ve got things that we can win on — free education, childcare ... low taxes for working families, for children. And that’s all because we’ve done a lot of the work to set this up for the future.” The comments came at a legislative panel Monday where economists from four government agencies announced an income estimate for the coming year. The figures are the baseline for budget negotiations when the Democratic-led Legislature convenes in January. State government income, which is closely linked to oil production in New Mexico, continues to grow, though at a slower pace, as legislators discuss new investments in social programs aimed at curbing crime and homelessness. Economists estimate the state will bring in a record-setting $13.6 billion in general fund income for the fiscal year that runs from July 2025 to June 2026, a 2.6% increase over the current period. This year’s income bump leaves room for an additional $892 million in state spending in the coming fiscal year, a 7% increase, according to the Legislature’s accountability and budgeting office. State income is forecast to exceed current bedrock annual spending obligations by $3.4 billion. New Mexico legislators are pushing to open new savings accounts. One proposal would set aside as much as $1 billion in a trust to underwrite spending on mental health and addiction treatment in response to public frustration with crime and homelessness. Legislators also are likely to revisit a stalled proposal to create a trust for Native American education that could expand Indigenous language instruction.
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