Five must-read stories—January 24

Ram temple row: Apex body of Hindu saints says BJP-VHP ‘no longer trustworthy’

The Akhil Bhartiya Akhara Parishad (ABAP), the apex body of Hindu saints in the country, has decided to stop backing the BJP and Vishwa Hindu Parishad on construction of Ram temple in Ayodhya, reports The Hindustan Times. The decision is effective from this year’s assembly elections, the parishad said on Monday.

EC okay with budget on February 1, but with riders

The Union Budget can be presented on February 1 as scheduled but no schemes related to the poll-bound states can be announced, the Election Commission ruled on Monday, reports The Telegraph.

Small firms hit by note ban, banks brace for fresh wave of bad loans

The conservative estimate is that the fresh wave of bad loans could surface over the next three-four quarters and specifically be centered around loans to the MSME (micro small and medium enterprises) segment, reports The Indian Express.

One taxpayer owes ₹21,870 crore in 2014-15

An unnamed taxpayer owed the government ₹21,870 crore for the assessment year 2014-15, which was 11% of income tax to be paid by all Indians, according to 2016 data, the latest available, from the Income Tax department. An IndiaSpend report.

Why Donald Trump’s withdrawal from Asia trade deal a boon for China

President Donald Trump’s formal withdrawal from a long-planned trade deal with Pacific Rim nations creates a political and economic vacuum that China is eager to fill, offering a boost for beleaguered US manufacturing regions while damaging American prestige in Asia. A Bloomberg report in Mint.