Himanshu Mishra | Business Upturn

SEBI plans stricter eligibility criteria for inclusion of stocks in F&O segment

Himanshu Mishra — Fri, 12 Aug 2022 05:00:33 +0000

The Securities and Exchange Board of India (Sebi) is intending to set an eligibility criteria for including stocks into the wealth derivatives segment. The board believes that stricter rules could constrain the access of numerous thinly-traded stocks into the coming time and will give options.

The proposal is said to be presented in a recent Sebi-appointed Secondary Market Advisory Committee (SMAC) conference, where the capital markets regulator has asked for advice from the committee members on the issue. In the meeting the regulator concluded that for being eligible in the inclusion once has to at least have an average daily delivery value of a share at about ₹10 crore to ₹20 crore in the prior six months on a rolling basis. However, the mentioned value can be under the SLB or Securities Lending and Borrowing scheme too.

Not only this but the regulator has further asked for double the market-wide position barrier for the ongoing ₹500 crore to ₹1,000 crore shares on a rolling basis, raising the bar for the inclusion of stocks into the segment. On the date of contract expiry in the month, the number of shares valued by taking the closing prices of stocks with the proposed cash will be the market-wide position limit.

However, the market regulator is also expected to include a new regulation in the F&O segment. Where for being eligible for F&O segment the stock should be exchanged by 15% of the registered brokers or at least 200 brokers. Moreover, the Newly-listed stocks can only participate after six months of listing.

As of now, more than 195 stocks trade in the F&O segment on the regulator. And, there are 135 of them which pass the new criteria. Meanwhile, the implementation of proposed plan is still doubtful.

Government to review solar park development scheme on slow progress, may cancel allocations

Himanshu Mishra — Fri, 12 Aug 2022 04:10:29 +0000

Government is planning to cancel solar park allocations due to it’s slow progress. The ministry of new and renewable energy (MNRE) is set to review the status of solar parks where developers have gone awry to make substantial progress and had even planned to cancel their allocations, two officials aware of the development told.

The government stand arrives at a time when numerous solar parks in the country are however to be commissioned despite the truth that many years have gone since their allocation by the government to developers. According to the latest information from the MNRE put forward in the Parliament, as of 30 June, a total of 61 solar parks with 40GW capability were approved under the sameosal of ‘Development of Solar Parks and Ultra Mega Solar Power Projects’, out of which only 10GW has been assigned. “The government may examine the parks which have not done very well… and also look at whether we want to discontinue those to free up abilities,” one of the two officials told, petitioning anonymity.

The solar parks are build in collaboration with state governments and their mechanisms, central public sector enterprises and private entrepreneurs. The functioning agency is termed Solar Power Park Developer (SPPD). There are various modes to select the implementing agency.

The proposed review of solar parks is also making mark at a time when the parliamentary existing committee on energy has conveyed disappointment over the slow development of solar parks, as only eight were created during 2015-2020, against the mark of over 50 solar parks by 2022.

In its answer to the panel’s proposals and observations, the ministry announced that it is making concerted actions to accomplish the target of completion of solar parks with a total capacity of 40GW by 2023-24, demonstrated the 28th report of the house panel on the action taken by the administration over the recommendations made by the panel.

Delhi CM Kejriwal asks PM: “Where did all the money from the Centre go?”

Himanshu Mishra — Thu, 11 Aug 2022 13:41:06 +0000

Delhi chief minister Arvind Kejriwal on Thursday take a jibe at Prime Minister Narendra Modi for putting GST on vital food items and announced that taxpayers are duped when their tax money is used to put off loans of “rich friends” of PM.

Expressing his views in an online briefing, Kejriwal announced, “The taxpayers think that the government took the tax from me on the vow of giving me facilities, instead they are using my tax money on waiving off their rich friends’ loans.”

“Never in the past 75 years has the regime taxed basic food grains. Tax over petrol and diesel is over ₹1000 crore. They are presently announcing all free things by the government should end. Fees should be charged in government schools and hospitals. They are telling free rations to be halted,” Kejriwal said in his address.

Kejriwal also questioned where did all money go? “They are forgiving loans of their friends with this government money. They waived taxes worth ₹5 lakh crore of super rich people,” he questioned.

Talking over the Centre’s Agnipath scheme, the Delhi chief minister quoted, “It is for the first time in the country’s history that the administration is justifying their Agnipath Yojna. It told it is being done so the government does not have to pay pensions to defence persons anymore.”

His response came after Modi’s statement on freebies. Modi had told, “Freebies will restrict India from becoming self-reliant and increase the burden on taxpayers.”

Earlier on Wednesday, in his address during the inauguration of the 2G ethanol plant, the Prime Minister also piped up against the culture of freebies.

President Murmu, PM Modi extend wishes on the occasion of Raksha Bandhan

Himanshu Mishra — Thu, 11 Aug 2022 05:36:02 +0000

President Droupadi Murmu and Prime Minister Narendra Modi on Thursday extended their wishes on Raksha Bandhan, the festival celebrating the love between brothers and sisters.

PM Modi shared warm greetings and good wishes to the citizens on the occasion of Raksha Bandhan. The festival which celebrates the deep bond of love between siblings, is being celebrated all over the nation today, August 11. “Greetings to everyone on the special occasion of Raksha Bandhan,” he tweeted.

आप सभी को रक्षाबंधन की बहुत-बहुत बधाई।

Greetings to everyone on the special occasion of Raksha Bandhan.

— Narendra Modi (@narendramodi) August 11, 2022

In her tweet in Hindi, President Murmu wrote: “On the joyful occasion of Raksha Bandhan, a symbol of warmth and trust, the unbreakable bond between brother and sister, I extend my greetings and truest wishes to all the residents. I wish that this festival should emphasize harmony and harmony in our society and heighten respect towards women.”

भाई-बहन के बीच अटूट बंधन, स्नेह और विश्वास के प्रतीक, रक्षा बंधन के उल्लासपूर्ण अवसर पर, मैं सभी देशवासियों को बधाई और शुभकामनाएं देती हूं। मेरी कामना है कि यह पर्व, हमारे समाज में मेल-जोल व सौहार्द को प्रोत्‍साहित करे और महिलाओं के प्रति सम्‍मान में वृद्धि करे।

— President of India (@rashtrapatibhvn) August 11, 2022

Moreover, Union Home Minister Amit Shah also extended greetings on the occasion.”Warm wishes to all the countrymen on the auspicious occasion of Rakshabandhan,” Shah tweeted.

सभी देशवासियों को रक्षाबंधन के पावन पर्व की हार्दिक शुभकामनाएं। pic.twitter.com/AV4cCwxqQa

— Amit Shah (@AmitShah) August 11, 2022

Earlier on Wednesday eve, Uttarakhand Chief Minister Pushkar Singh Dhami called Rakhi, a symbol of the sacred relationship of brother and sister while further asserting that Raksha Bandhan communicates zeal and enthusiasm in life along with mutual brotherhood. On the eve of Raksha Bandhan, a huge number of women of the state tied rakhi to the Chief Minister at his home and Chief Sevak Sadan auditorium and showered him long life wishes.

आज मुख्य सेवक सदन में रक्षाबंधन के उपलक्ष्य पर आयोजित कार्यक्रम में सम्मिलित हुआ। इस अवसर पर प्रदेश के विभिन्न क्षेत्रों से आई बहनों ने रक्षा सूत्र बांधकर अपना स्नेह व आशीर्वाद दिया। pic.twitter.com/QXvv662OBc

— Pushkar Singh Dhami (@pushkardhami) August 10, 2022

2 terrorists shot dead in J&K army camp attack, 3 Soldiers Killed

Himanshu Mishra — Thu, 11 Aug 2022 05:00:27 +0000

Three soldiers died in combat in a pre-dawn suicide attack on an army camp in Jammu and Kashmir’s Rajouri. Two terrorists had barged into the army camp, who were later shot dead by the soldiers. Two soldiers were also wounded.

The terrorists started heavy firing after they sweep into the army camp at Darhal area in Rajouri district, after which the army retaliated. The army announced five soldiers were injured in the attack and both the terrorists were killed in the firing.

“Someone (terrorists) tried to cross the fence of Army camp at Pargal. Sentry challenged and exchange of fire took place,” Additional Director General of Police (ADGP) Mukesh Singh told media.

Rajouri district and other parts of the Jammu region have largely been free from terrorism but over the last six months there have been a series of terrorist-related incidents in Jammu.

However, Police have concluded that the attack was done by the Lashkar-e-Toiba terror group. Police have recently caught a major Lashkar module in the area after the detention of Talib Hussain Shah, a BJP leader who was eventually renounced by the party. According to the police, Shah was part of a series of attacks in the area and had hidden a huge amount of arms and ammunition.

The attack comes just a day after police prohibited a major accident by recovering 25 kg improvised explosive device (IED) in Pulwama district of the union territory. Moreover, three LeT terrorists were also neutralised by security forces in Budgam. One of the dead terrorists was part of the killing of civilians Rahul Bhat and Amreen Bhat.

Akali Dal’s Bikram Singh Majithia granted bail by Punjab and Haryana HC in drugs case

Himanshu Mishra — Wed, 10 Aug 2022 06:11:57 +0000

Former Shiromani Akali Dal (SAD) leader Bikram Singh Majithia has been awarded bail in the Punjab NDPS drugs-related case on Wednesday by the Punjab and Haryana High Court. The case was registered against him by the last Punjab Congress government under the Narcotic Drugs and Psychotropic Substances (NDPS) Act in December 2021.

The Akali Dal leader has asserted that he has been framed by the Congress government. But the state government alleges that he had been part of an ‘international drug syndicate’.

Majithiw was kept in Patiala Central Jail on February 24. He had moved to Supreme Court to get the case against him taken aback. A bench constituting Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli had, however, ordered Majithia to surrender before a trial court after the Punjab assembly elections on February 20.

The pre-arrest bail appeal of Majithia, who was caught under the Narcotic Drugs and Psychotropic Substances (NDPS) Act on December 20 last year, was rejected by the Punjab and Haryana High Court on January 24. An appeal had been requested in the apex court.

Majithia is the SAD MLA and brother-in-law of SAD chief Sukhbir Singh Badal and brother of former Union minister Harsimrat Kaur Badal. He had contested the February 20 polls from the Amritsar East constituency, from where Punjab Congress president Navjot Singh Sidhu is pursuing re-election.

Shivpal Yadav appoints son, Aditya as state chief of Pragatisheel Samajwadi Party (Lohia)

Himanshu Mishra — Wed, 10 Aug 2022 05:07:26 +0000

Shivpal Singh Yadav appointed his son Aditya Yadav as the state President of his Pragatisheel Samajwadi Party (Lohia) on Tuesday. Shivpal himself is the party’s national President.

In the letter of Aditya Yadav’s appointment posted on Twitter, the party asserted hope that its state executive would be shaped soon.

https://twitter.com/psplofficial/status/1557002256033411073?t=cYL9lv3j5d0bWIKuvSpoug&s=19

Shivpal Singh Yadav, who is the younger brother of Mulayam Singh Yadav formed the Pragatisheel Samajwadi Party (Lohia) in 2018 after a clash with his nephew and Samajwadi Party current chief Akhilesh Yadav.

However, again during the 2022 assembly elections, both fraction came together and Shivpal Yadav contested from his conventional Jaswantnagar seat in Etawah on SP ticket and got elected to legislative.

However, the rift between the two again intensified and came to the fore during the Presidential election, Pragatisheel Samajwadi Party-Lohia head Shivpal and Suheldev Bhartiya Samaj Party chief Rajbhar voted in favour of NDA Presidential candidate Droupadi Murmu.

After which the Samajwadi Party released a letter stating that Shivpal Singh Yadav is free to go anywhere, if they are “getting more respect” in any other party. Akhilesh targeted at his uncle Shivpal Yadav of working on the BJP’s “directions” and circulating false allegations that the opposition presidential candidate Yashwant Sinha had once called SP founder Mulayam Singh Yadav an “ISI agent”.

PM Modi to inaugrate 2G ethanol plant in Panipat today on World Biofuel Day

Himanshu Mishra — Wed, 10 Aug 2022 04:15:00 +0000

Prime Minister Narendra Modi on Wednesday will inaugurate a 2nd generation (2G) Ethanol Plant in Panipat, Haryana and dedicate it to the nation on the occasion of World Biofuel Day. The event will take place on 4:30 pm via video conferencing.

According to Prime Minister’s Office (PMO), the inauguration of the plant is part of a long succession of steps taken by the government in the years to improve the production and use of biofuels in the country.

“This is in line with the Prime Minister’s constant endeavour to transform the energy sector into being more affordable, accessible, efficient and sustainable,” said the press release by government.

The 2G Ethanol Plant has been constructed at an approximate cost of over Rs. 900 crore by Indian Oil Corporation Ltd. (IOCL) and is situated close to the Panipat Refinery.

Based on state-of-the-art indigenous technology, the functioning will whirl a new chapter in India’s waste-to-wealth cooperation by using about 2 lakh tonnes of rice straw (parali) annually to produce around 3 crore litres of Ethanol each year.

Developing an end-use for the agri-crop remnant would help farmers and give an additional income generation shot for them. The Project will deliver direct employment to people comprised in the plant operation and indirect jobs will be produced in the supply chain for rice straw cutting, handling, storage, etc.

Nitish Kumar resigns as Chief Minister of Bihar, breaks alliance with BJP

Himanshu Mishra — Tue, 09 Aug 2022 10:54:23 +0000

Bihar Chief Minister Nitish Kumar has dump his ally BJP in the state and submitted his resignation as NDA’s chief minister to the Governor. After meeting the Governor, Kumar is expected to have a second appointment for which he will be accompanied by Tejashwi Yadav, claim reports.

I have resigned as NDA's chief minister: Nitish Kumar

— Press Trust of India (@PTI_News) August 9, 2022

However, the resignation also mark the return of Mahagatbandhan as JDU and RJD get ready to form a new government together. Nitish Kumar, who resigned as Chief Minister of the current Bihar government, and Tejashwi Yadav, the 32-year-old Opposition leader, have agreed upon the broad contours of their understanding and have set the frame of alliance government.

Nitish Kumar will be Chief Minister with Tejashwi Yadav as his Deputy; The task of dividing all ministries will be Nitish Kumar’s call. The Speaker will be appointed from Tejashwi Yadav’s party, the Rashtriya Janata Dal.

However, it depends on the Governor’s actions after he meets with Nitish Kumar. Tejashwi Yadav is expected to attend the upcoming meeting, possibly along with other Opposition parties like the Left and the Congress who are willing to join in the new government led by Nitish Kumar.

It was from this morning that dump rumors begun to get clear as Nitish Kumar had a meeting of his legislators after accusing the Prime Minister’s party of working to break the Janata Dal United; along with this, Tejashwi Yadav met with his MLAs to formally deciding on reuniting with Nitish Kumar.

Nitish Kumar split up with BJP again, will meet Governor to submit resignation

Himanshu Mishra — Tue, 09 Aug 2022 10:31:40 +0000

The split up rumors between BJP and JD-U finally get confirmation. According to reports Nitish Kumar declared his split with the BJP at a meeting of his party legislators this afternoon. He is going to meet the Governor at 4pm today with his resignation. However, he will be meeting governor, where he was accompanied by Tejashwi Yadav and other leaders supporting him, reports announced.

And with this Mahagathbandhan 2.0 will commence, where the first alliance between Nitish Kumar and the Rashtriya Janata Dal had left off. Reports claim that Tejashwi Yadav will be back as Mr Kumar’s deputy and his elder brother Tej Pratap Yadav will be in the cabinet. However, Mr Kumar’s break-up with the BJP is not been seen as a sudden step as reports claim that the path of the split and the details of the next government were in progress over the last three or four months.

The tension between the two parties got breakpoint over Nitish Kumar’s suspicions that Union Minister Amit Shah is working relentlessly to break the Janata Dal (United). To this end, Nitish Kumar accuses RCP Singh, a former leader from his own party, for assisting as Amit Shah’s proxy. RCP Singh quit the JDU on the weekend after his party impeached him of deep corruption. “Will Amit Shah decide our party’s matters?” told Rajeev Ranjan Singh aka Lalan Singh, who is the president of the JDU.

The BJP’s Bihar branch have announced for a press conference today to address the issue of split up for a second time by Nitish Kumar. “We have always observed coalition dharma,” Union Minister Giriraj Singh told NDTV in a conversation.

Maharashtra Cabinet expansion: 18 ministers take oath to Eknath Shinde’s council of ministers

Himanshu Mishra — Tue, 09 Aug 2022 06:11:42 +0000

The much-anticipated expansion of the Maharashtra Cabinet is taking place today. After more than five weeks of the new government formation in the state, which was sworn in on June 30. In the first phase of the expansion, 18 ministers are to be dispensed the oath of office.

Maharashtra Chief Minister Eknath Shinde on Tuesday morning joined the Shiv Sena legislators backing him at the Sahyadri guest house in south Mumbai. CM Eknath Shinde met legislators to relieve those who will not be sworn in today. He announced the name of the legislators to be sworn today after the meeting.

The ministers taking oath today include BJP state president Chandrakant Patil, Radhakrishna Vikhe Patil, Sudhir Mungantiwar, Suresh Khade, Girish Mahajan, Ravindra Chavhan, Mangal Prabhat Lodha, Vijaykumar Gavit and Atul Save. From the Shiv Sena, Abdul Sattar, Tanaji Sawant, Deepak Kesarkar, Suhas Kande, Gulabrao Patil, Dada Bhuse, Uday Samant, Sanjay Rauthud, and Bharat Gogawale are to be sworn in.

#MaharashtraCabinet | Nine BJP leaders and nine Shiv Sena leaders to take oath today in the state cabinet expansion, in Mumbai pic.twitter.com/XG09h7cMQ8

— ANI (@ANI) August 9, 2022

A second round of expansion will be held in two-three weeks, a senior leader of the Shinde camp told The Indian Express in a conversation. The expansion came after opposition has been firing on the Shinde-Fadnavis government over the delay in the cabinet expansion. “It’s the 40th day of the new government but the cabinet has just two members – Shinde and Fadnavis”, alleged Sena.

Shinde is supported by 40 of the 55 Shiv Sena MLAs.

RJD MLAs start arriving at Rabri Devi’s residence for MLA meet amid JD(U) & BJP rift

Himanshu Mishra — Tue, 09 Aug 2022 04:41:07 +0000

RJD MLAs & leaders reach at the residence of party chief Lalu Prasad Yadav, in Patna. The party has scheduled a meeting at 11 am today amid break-up reports between current government -ally JD(U) & BJP in the state.

Bihar | RJD MLAs & leaders arrive at the residence of party chief Lalu Prasad Yadav, in Patna. The party will hold a meeting at 11 am today amid reports of rifts b/w JD(U) & BJP in the state.

Mobile phones of all MLAs are being kept outside the meeting room. pic.twitter.com/DFZP54bOvp

— ANI (@ANI) August 9, 2022

Bihar Chief Minister Nitish Kumar is grousing against the ally partner BJP. The break-up buzz grew large as the conversation chain has dried up between both the parties. Nitish is now going to hold a meeting with his party MLAs today as inference about his break-up with the BJP grows to a fever pitch. However, both the opposition parties Congress and RJD have reflected they are ready for Grand Alliance 2.0 if Nitish dumps the BJP.

Lalu Yadav’s Rashtriya Janata Dal or RJD, head now by Tejashwi Yadav, and the Congress have also called for meetings today. Smaller parties Hindustan Awam Morcha and CPIML have also proposed unconditional support to Nitish Kumar.

However, former Lok Janshakti Party (LJP) chief Chirag Paswan on Monday lashes out the JD(U) and dared it to take on the BJP directly instead of impeaching him of involvement in a ruse to dent Chief Minister Nitish Kumar’s favor. Addressing a press conference, Paswan contended the chief minister faced “greater danger from his close aides than from me” even as he contended that Kumar has insulted former JD(U) national president RCP Singh, and had formerly humiliated Sharad Yadav and George Fernandes.

Uttar Pradesh CM Yogi Adityanath gets death threat

Himanshu Mishra — Tue, 09 Aug 2022 04:03:33 +0000

Uttar Pradesh Chief Minister Yogi Adityanath got a bomb threat, officials notified on Monday. According to the ANI, on August 2, a death threat was received as a WhatsApp message on the police control room’s helpline.

The bomb threat, that came just few days before the Independence Day induced a stir. Officials took up with the report immediately after the threat message and commenced an investigation.

Reportedly, the WhatsApp message received on August 2 on the police control room’s helpline WhatsApp mentioned to bomb the Uttar Pradesh chief minister within three days.

The operation commander of the helpline registered a FIR with the police in the case and a search is under process to identify and arrest the sender. The case has been lodged at Sushant Golf City Police Station in Lucknow.

Earlier too, Chief Minister Yogi Adityanath had received a bomb threat before the UP elections, after which the accused was arrested by the Gorakhpur Police. The accused Sonu, lodged in Agra Jail, was arrested under Cantt Police Warrant ‘B’ of Gorakhpur and produced in the court. From where he was sent to Gorakhpur jail. The threatening accused is a resident of Ahmedpur under Sirsaganj police station area of Firozabad and was a leader of Bhim Army. Sonu used to run a Twitter account in the name of ‘Lady Don’. With this account, he had threatened to blow up CM Yogi with a bomb.

Money Laundering case: ED to produce Sanjay Raut before special court in Mumbai

Himanshu Mishra — Mon, 08 Aug 2022 05:52:27 +0000

Shiv Sena MP Sanjay Raut will be produced before a special court in Mumbai on Monday by The Enforcement Directorate in connection to the Patra Chawl case.

On last Thursday, the court has extended Raut’s ED custody till August 8, the agency probing in the money laundering case had further remarked that it had made “remarkable progress” in the investigation involving the Shiv Sena leader. The ED demanded for futher eight days custody quoting it has unearthed a new trail of money.

Raut, a Rajya Sabha member, was caught to be beneficiary of ₹1.17 crore of proceeds of crime. The ED in investigation claimed that the money used to buy land in Alibaug was sourced from Pravin Raut, who had allegedly accepted ₹112 crores from construction company HDIL in the Patra Chawl land scam. The ED further contended that this amount was part of the proceeds of crime of overall scam money of ₹1,039.79 crore, in addition of ₹1.06 crore that had come to light earlier, it alleged.

The ED on August 1, caught Shiv Sena leader on August 1 in connection with alleged financial scams in the redevelopment of the Patra Chawl (row tenement) in suburban Goregaon. He was presented in the court on same day, where court ordered him to remain in ED custody until August 4, however it expanded the custody till August 8 after hearing both the aspects.

The ED has said that documents put forth during the investigation showed the purchase of properties at Alibaug in neighbouring Raigad district by Raut implicated substantial cash transactions. The probe agency claimed that around ₹1.08 crore was found in the bank account of Sanjay Raut’s wife Varsha Raut.

The ED on Saturday inquired Varsha Raut for more than nine hours in connection with the case and recorded her statement.

Rupee falls 22 paise to 79.46 against US dollar in early trade, sensex declines 121.28 points

Himanshu Mishra — Mon, 08 Aug 2022 04:53:53 +0000

The rupee has depreciated 22 paise against US dollar in early trade on Monday. The rupee fall is in response as sentiments of investors saturated due to weak macroeconomic data and uncertainties rising between US-China.

The rupee opened weak at 79.50 at the interbank foreign exchange, against the US dollar and then rose to 79.46 gaining some ground to quote at initial deals, however registered a total decline of 22 paise over the last close.

The rupee fall to 79.46 against the US dollar tracking the strength of the American currency and continuous foreign fund outflows. A much stronger-than-expected US employment report on Friday lifted the prospect of the FED maintaining its fierce monetary policy. This factor tinkered a role in Wall Street ending going down on Friday and the Asian markets following the lead. Nikkei and Chinese indices commenced in red on Monday.

Meanwhile, Oil rose up an early decline at the week’s open to trade flat as investors raised up prospects for demand ahead of a barrage of intelligence from directing energy players on the market expectation.

Meanwhile, in the domestic equity front, the 30-share Sensex was trading 70.74 points or 0.12 per cent lower at 58,317.19, while the extensive NSE Nifty fell 24.30 points or 0.14 per cent to 17,373.20.

Sonia Gandhi leaves ED office for lunch, to return back around 3:30 pm

Himanshu Mishra — Tue, 26 Jul 2022 10:04:36 +0000

Congress president Sonia Gandhi is being interrogated today in National Herald case. She leaves ED office after about 2.5 hours of questioning in money laundering case, Mrs Gandhi will return to ED office in Delhi around 3.30 pm, after lunch.

#UPDATE | Congress interim president Sonia Gandhi leaves from the ED office in Delhi. She arrived here earlier today for the second round of questioning in connection with National Herald case. pic.twitter.com/7MrEXXpXOu

— ANI (@ANI) July 26, 2022

Sonia Gandhi on Tuesday appeared before the Enforcement Directorate for the second time after July 21 for questioning in a money laundering case associated to the National Herald newspaper.

However, this inquiry prompted her party to hold protests against the alleged misuse of central agencies by the current BJP government. Police has maintained heavy security arrangements as Sonia Gandhi reached the federal agency’s office in central Delhi around 11 am. She was accompanied by Z+ armed security and both children Rahul Gandhi and Priyanka Gandhi Vadra. While Priyanka Gandhi just like last time stayed back at the ED office, Rahul Gandhi left soon after.

Soon Rahul led Congress MPs at a protest in Vijay Chowk, close to the Rashtrapati Bhavan, and was detained by police and has been taken to Parliament Street police station. He allegedly said that ‘India a police state, Modi a king’.

The questioning and recording of the 75-year-old Congress president’s statement begun at 11:15 am after preliminary formalities, including the verification of summons and signing the attendance sheet, were finished.

Sonia Gandhi’s second ED questioning today, heavy security placed near Congress office

Himanshu Mishra — Tue, 26 Jul 2022 03:42:15 +0000

Sonia Gandhi is set appear before ED for 2nd round of questioning today. Congress President will depose at the federal probe agency around noon on for recording of her testimony by the ED investigating officer.

The questioning is subjected in the money laundering case linked to the National Herald newspaper.

However, Congress party has called for a protest, claiming the ED procedures to be a government’s act against the opposition. Hence, heavy security is placed near Congress office in Delhi.

Heavy security deployment near Congress office in Delhi. Party's interim president Sonia Gandhi will appear before the ED for the second day today, in connection with the National Herald case. pic.twitter.com/KTaS39dzi8

— ANI (@ANI) July 26, 2022

In it’s official announcement, Congress Party has invited all state units to organise a peaceful ‘Satyagraha’ on July 26, when Congress interim President will appear before ED. “All MPs, AICC General Secy & CWC members have been asked to participate in Satyagraha to be organised in Delhi”: Congress.

Congress MP KC Venugopal said to media, “We decided to hold a peaceful protest in front of Rajghat tomorrow (as Sonia Gandhi will appear before ED). We had given an application to Delhi Police for permission but they denied it. It’s unfortunate & condemnable.Govt is suppressing opposition voice.”

Earlier on July 21, the 75-five-year old Sonia Gandhi was questioned for more than two hours during her first day of questioning by the agency. Her childrens and Congress leader Rahul Gandhi & Priyanka Vadra had accompanied her to the ED office. ED is investigating alleged financial irregularities in the Congress-promoted Young Indian Private Limited, which owns the National Herald newspaper.

Ex President Ram Nath Kovind expresses gratitude on farewell to PM & President Murmu

Himanshu Mishra — Mon, 25 Jul 2022 19:00:51 +0000

Droupdi Murmu took the oath of 15th president of India on Monday. Further, she took the position of former President Ram Nath Kovind. On Monday Ram Nath Kovind expressed praises for the warm farewell he was offered on his exit from the Rashtrapati Bhawan. Ram Nath Kovind in his farewell address to the nation on Sunday had talked about the various moments of his five-year term.

Ram Nath Kovind recalled his learnings from Mahatma Gandhi and his experience with his predecessor Pranab Mukherjee. “To think of occupying any Constitutional post or even to conceive of what it meant was quite beyond the scope of my imagination as a child. Or of those around me, but our democracy has given ways and means for people to find ways of contributing to serve the country”. He said. He advised young people to stay related to their roots in villages and cities and their teachers and elders.

On Monday, he announced he was “overwhelmed”. “I am overwhelmed by the heartfelt farewell accorded to me today at the end of my term as President”. Read the first tweet in Hindi by the former President Ram Nath Kovind.

President Ram Nath Kovind bids farewell

He also disclosed his thoughts on vacating his official residence of five years and his successor’s note-worthy sign. “President Droupadi Murmu personally coming from Rashtrapati Bhavan to drop me off. At my residence at 12 Janpath, New Delhi is a very touching personal moment for me. As well as an example of the high traditions of Indian democracy,” he told.

Moreover, Ram Nath Kovind shared photos of remarkable farewell moments where Prime Minister Narendra Modi could be glimpsed. “The presence of the President, the Vice President, the Prime Minister, the chiefs of the three services and the dignitaries in the farewell ceremony will remain in my unforgettable memories. I believe that I will continue to get the blessings of the people of the country.”

“Among the most memorable moments of my life has been visiting my home. During my term and touching the feet of my teachers at Kanpur to seek their blessings”. Hence, he had stated.

Mamata Banerjee opens up on Minister’s Arrest: “Don’t Support Corruption”

Himanshu Mishra — Mon, 25 Jul 2022 14:29:30 +0000

Mamata Banerjee today opened up about her minister Partha Chatterjee’s arrest. In an appearance with media she said, “I don’t support corruption or any wrongdoing.” Bengal CM seemed to distance herself from the Trinamool Congress leader arrest that happened two days back.
However, Mamta framed opposition for this saying, “BJP is wrong if it thinks it can break my party using agencies.”

Partha Chatterjee, the Bengal Industries Minister, who is seen as one of closest ally of Mamta was arrested on Saturday on money-laundering charges. Linked to a school jobs scam through SSC. He was framed by ED for making allegedly illegal appointments of schoolteachers and staff in government-run schools when he was Education Minister.

ED has put raid on Partha’s close aid Arpita Mukherjee residential premises on Friday where they found a whopping ₹21 crore. She was soon arrested and was brought to Special Court in Kolkata on Monday.

“If anyone is found guilty, he or she must be punished, but I condemn any malicious campaign against me. The truth must come out, but within a time-frame,” Mamata Banerjee said to Media.

Besides, ED has carried out simultaneous 20 raids in the state. Which includes the houses of former advisor of the West Bengal School Service Commission (SSC) Shanti Prasad Sinha. Ex-president of the West Bengal Board of Secondary Education Kalyanmoy Ganguly and nine others, the official announced.

President Droupadi Murmu’s Top 10 quotes in her historic address after oath

Himanshu Mishra — Mon, 25 Jul 2022 12:55:12 +0000

Hon’ble President Madam Droupadi Murmu of the Republic of India took oath as India’s 15th President. After that she delivered her first address as President at the Central Hall of Parliament. President Murmu (64) is the youngest person to take oath as the President of India. She is also the first tribal leader to be elected to the highest constitutional post of the country.

Here are top 10 statements made by Madam President Droupadi Murmu in her maiden speech:

1. “I am the first leader to be elected the country’s President who’s born after India’s independence”, said Murmu. I am the first woman from my village in Odisha who attended college, says Murmu.

2. Becoming the country’s President is not my personal achievement, it is the achievement of every poor in India. My nomination is evidence that the poor in India can not only dream but also fulfil those dreams: President Droupadi Murmu

3. It is a coincidence that my political career began when the country was celebrating its 50th year of independence. And today, in the 75th year of independence, I have got a new responsibility: Madam President

4. It is a great privilege for me to be given this responsibility at such a historic time when India is gearing up to achieve its vision for the next 25 years: President Murmu

5. This is the strength of our democracy that a daughter born in a poor house, born in a remote tribal area, can reach the highest constitutional post of India: President Droupadi Murmu

6. It is a matter of great satisfaction for me that those who have been deprived for centuries, who have been away from the benefits of development, the poor, dalits, backwards and tribals are seeing their reflection in me: President Droupadi Murmu

7. From the first President of the country, Dr Rajendra Prasad to Ram Nath Kovind, many inspirational leaders have graced this post. Along with this post, the country has entrusted me with the responsibility of representing this great tradition: President Droupadi Murmu

8. Our freedom struggle was an unending stream of struggles and sacrifices that nurtured so many ideals and prospects for an independent India. Mahatma Gandhi showed us the way to establish the cultural ideals of India through Swaraj, Swadeshi, Swachhta and Satyagraha: President Droupadi Murmu

9. From the Santhal Revolution, the Paika Revolution to the Coal Revolution and the Bhil Revolution. The tribal contribution to the freedom struggle was further strengthened. We were inspired by the sacrifice of ‘Dharti Aba’ Bhagwan Birsa Munda ji. For social upliftment and patriotism: President Droupadi Murmu

10. I have seen the enthusiasm and strength of the youth of the country. Atal Bihari Vajpayee ji used to say that when the youth of the country move forward. They not only make their own destiny but also the country’s destiny. Today, we are witnessing it turn into reality. Hence said President Droupadi Murmu

Congress alleges Union Minister Smriti Irani’s daughter running ‘illegal’ bar in Goa, demands PM to remove the minister

Himanshu Mishra — Sat, 23 Jul 2022 10:33:49 +0000

Congress party on Saturday alleged Union minister Smriti Irani with allegations that a Goa restaurant run by the minister’s daughter Zoish has been given a notice for obtaining a liquor license in the name of a dead person.

Congress spokesperson Pawan Khera told in a press conference that Irani’s daughter is allegedly owns a restaurant in Goa, in which a bar is operating on a “fake license”. The license of Bar is in the name of a person who passed in May 2021, and the license is made in this year and this is illegal.

He further alleged that the officer who showed the courage to serve the notice is being hounded and preparation for his transfer is also going on.

“While the children of your supporters are engaged in LuLu Mall-Hanuman Chalisa- Namaz game. Your children are either studying outside India. Which is a very good thing, they should do. Or are indulging in illegal activities under your patronage”. Pawan Khera said.

He further claimed that the restaurant has two bar licenses. Which no restaurant in Goa has, and it has bar licenses without having a legal license to regulate as a restaurant.

“We want to ask the minister whether she had no knowledge about all these things. We have also come to know that steps are being taken to transfer the official. Is it happening without the minister’s intervention?”. Pawan Khera questioned.

Congress further asked Prime Minister Marendra Modi to sack Smriti Irani as the Union Minister.

Meanwhile, Kirat Nagra, the lawyer of Irani’s daughter said, “It is unfortunate that they have resorted to spreading false propaganda only to sensationalize a non issue. Without ascertaining true facts and with a predetermined objective of defaming our client. For solely being the daughter of a political leader.”

Cochin International Airport Ltd soon to become international cargo terminal

Himanshu Mishra — Sat, 23 Jul 2022 09:34:14 +0000

The Cochin International Airport Ltd (CIAL) is soon going to become an international cargo terminal and while proceeding towards this it aims high to have increase in its revenue from international cargo movement. The new terminal is expected to have highly-developed features having modern facilities and technologies, from warehousing and storage to other facilities Cial aims to provide faster cargo management and activity.

Talking over the same S Suhas, MD,Cochin Int’l Airport Ltd, said to ANI, “CIAL is glad that Kochi airport chosen for first phase of Akasa’s services in India. Efforts by Chairman & board of directors are yielding results. CIAL hopes that Kochi airport can facilitate more services to key cities across India.”

The proposal aims to ultimately modify Cial into a major cargo destination in the long run predicting a huge increase in the amount of cargo enacting through Kochi in the future years. Currently, Cial has the capability to handle 150 tonnes of cargo in the worldwide sector daily. With the takeoff of the new terminal, it will be improved to around 250 tonnes.

“The new terminal is being constructed as part of the business diversification proposals of Cial to increase revenue share. The current terminal will be sufficient to cater to the probable increase in the cargo activity in Kochi at least for the next 15 years,” Suhas further revealed.

The facilities at the new terminal comprise a de-stuffing area, separate storage for import, export, and courier cargo, auction room, radioactive room to keep any radioactive cargo, dangerous goods room, strongroom, customs inspection hall and offices, docking bays, snack bar, airline offices, bank, flight handling documentation, etc.

Presently the domestic and international cargo terminals are functioning in two portions of the same building. After the inauguration of the cargo terminal, it will help the Domestic terminal too.

JSW Steel April-June net profit falls to Rs 839 crore, revenue up 32%

Himanshu Mishra — Fri, 22 Jul 2022 12:06:08 +0000

India’s largest steel producer, JSW Steel Ltd, on Friday announced a 85.8% reduction in its consolidated net profit to ₹838 crore for the April-June quarter (Q1FY23). The firm had reported ₹5,904 crore net profit in the year-ago quarter (Q1FY22).

Consolidated revenue rose upto 31.8 percent year-on-year to Rs 38,086 crore as against to a net revenue of Rs 28,902 crore. The Indian steel industry’s income from operations increase up to 32% to ₹38,086 crore for the quarter under review as compared to ₹28,902 crore in the samw quarter of last year.

On a reported basis, the revenue decreased 18.8 percent from the net revenue of Rs 46,895 crore listed in the last quarter, which was also the record revenue generation by the firm in any quarter.

“During the reported quarter, high inflation across major economies on the back of supply chain disruptions and the Russia-Ukraine conflict had impacted the global economic outlook”, the company announced in its income release. “High inflation and policy rate tightening across the world have become formidable headwinds”.

The company also affirmed the domestic steel industry was affected by falling global prices and the practice of a 15 percent duty on certain steel exports in May 2022 further worsened the situation with a straight fall in exports of 26 percent QoQ.

Lt Governor CBI probe recommendation in Delhi govt’s excise policy, stirs AAP vs BJP

Himanshu Mishra — Fri, 22 Jul 2022 10:51:12 +0000

Delhi’s Lieutenant Governor on Friday recommended a probe by the Central Bureau of Investigation into Delhi’s AAP government’s new excise policy. However, the announcement started a new battle between the BJP and AAP.

The AAP government alleged that Delhi Lieutenant Governor Vinai Kumar Saxena is acting under the direction of the Centre, which is trying hard to stem the party’s rising popularity among the masses.

In his statement, Kejriwal said, “These are attempts to stop good work being done in the capital.”

Delhi LG’s office claimed numerous violations of established law “in addition to deliberate and gross procedural lapses to provide post tender undue benefits to liquor licensees”. The Lieutenant Governor said the report places “substantial” financial favours at the top political level. The new excise policy was implemented “with the sole aim” of profiting private liquor barons for monetary benefits to favourite people of the government leading up to Manish Sisodia.

“Minister In-charge of the Excise Department, Manish Sisodia took and got executed, major decisions/actions in violation of the statutory provisions and the notified Excise Policy that had huge financial implications,” Mr. Saxena’s announcement said.

However, BJP leaders have applauded the LG’s suggestion, in a conversation with media by the party, Union Minister and BJP leader Meenakshi Lekhi bombed Mr Kejriwal, calling enacted the liquor policy illegal and “fraud on the people of the national capital.”

IndiGo flight cancelled in Patna after bomb threat by an onboard passenger

Himanshu Mishra — Thu, 21 Jul 2022 19:10:34 +0000

A Delhi-bound IndiGo flight (6e 2126) was grounded at Patna airport after information of a bomb in the flight. A passenger on board claimed that have a bomb in his bag. However, soon after that all the passengers were deboarded and a Bomb squad team & police at the spot, checked his bag as well as the whole plane.

The passenger, who was identified as Rishi Chand Singh claimed that he was holding a bomb, after which a bomb disposal squad reached the spot. However, when they didn’t receive any lead, police arrested the passenger.

Soon, after inquiry airport security officials contended that the passenger is mentally unstable and the claim was completely baseless and hence a lie. In an interaction with India Today, Patna District Magistrate also informed the flight was grounded and a search was performed inside the flight but no bomb was found.

“Nothing was found but still a search is ongoing as per protocol. The flight has been canceled and will leave tomorrow morning,” he informed.

Former RJD MLA Anant Singh gets 10-yr RI in second case in a month

Himanshu Mishra — Thu, 21 Jul 2022 17:48:49 +0000

Former MLA Anant Singh, who recently made it to headlines after getting disqualified as the member of legislative assembly in Bihar due to getting convicted and sentenced in a 2019 case related to spoting an AK-47 assault rifle from his residence in his native village. However, on Thursday he was convicted to 10 years of custody in another case of recovery of a bullet-proof jacket and gun shell from his residence in 2015.

However, after his hearing at special MP-MLA court in Patna on Thursday, Singh said to reporters, “I will move the Patna High Court and the Supreme Court against the judgment.”

Singh has won Mokama parliament seat five times — three times on a Janata Dal-United ticket, and fourth time as an Independent candidate. However, for his fifth row in 2020, he got seat with Rashtriya Janata Dal banner.

According to police, the case is of June 24, 2015, when the then Patna police chief Vikas Vaibhav held a search for over four hours in Singh’s residence. Poloce collected six empty magazines of Insas rifle, a bullet-proof jacket and some blood-stained clothes in it’s search. The attack was in held because of a kidnapping and murder trial under Barh police station thresholds.

However, clearing Singh’s stance, his counsel Sunil Kumar told, “This case is political and my client was implicated in a false case.”

However, Singh has a long history sheet of crime and is currently in jail.

EPFO adds 16.82 lakh net subscribers in May, registers an 83% rise YoY

Himanshu Mishra — Wed, 20 Jul 2022 15:12:28 +0000

The Employees’ Provident Fund Organisation (EPFO) put in 16.82 lakh net subscribers in May 2022, which is 0.26 lakh less when correlated with the last month, as per the payroll data published by the Ministry of Labour and Employment on Wednesday.

In April, EPFO added 17.08 lakh net subscribers. Year-on-year as against of payroll data indicates an increase of 7.62 lakh net subscribers in May 2022 as against to the net subscription in the month of May 2021.

Out of the whole 16.82 lakh subscribers added during the month, around 9.60 lakh current members have been covered under the ambit of EPF & MP Act, 1952 for the first time.

Nearly 7.21 lakh net subscribers escaped but rejoined EPFO by shifting their employment within the establishments wrapped by EPFO and opted to proceed their membership under the EPF Scheme, by substituting their funds I ater than applying for final PF withdrawal. The new enrolment during the month is elevated than the monthly average listed during the last fiscal.

Age-wise comparison of payroll data implies that the age group of 22-25 years has enrolled the highest number of net enrolments with 4.33 lakh additions during May 2022. This exhibits that many first-time job petitioners are joining organised sector workforce in huge numbers.

State-wise comparison of payroll figures brings out that the establishments coated in the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi to stay in lead by adding roughly 11.34 lakh net subscribers during the month, which is 67.42 per cent of the total net payroll expansion across all age groups.

Gender-wise analysis implies that net female payroll addition is roughly 3.42 lakh during the month and share of female enrolment is 20.39 per cent of the net subscriber addition in the month of May 2022.

The category of industry-wise payroll data suggests that primarily two categories i.e. ‘expert services’ (consisting of manpower agencies, private security agencies and small contractors etc.) and ‘Trading-Commercial establishments’ make 50.51 per cent of total subscriber addition during the month. Apart from this, a thriving trend has been reported in other businesses like ‘Building & Construction industry’, ‘Garments Making’, ‘Financing Establishment’, ‘Hotel’ and ‘Iron and Steel’ during the month.

The payroll data is interim since the data generation is a continual exercise, as updation of employee record is a continual process. The previous data hence gets revised every month. From the month of April-2018, EPFO has been releasing payroll data glossing the period September 2017 onwards.

Sharad Pawar shattering Shiv Sena, alleges ex-Maharashtra minister Ramdas Kadam; NCP rejects charge

Himanshu Mishra — Tue, 19 Jul 2022 13:34:11 +0000

Former Maharashtra minister Ramdas Kadam on Tuesday declared that NCP chief Sharad Pawar was shattering the Shiv Sena and he had given a proof of this to Sena president Uddhav Thackeray. The Sena existed “systematically weakened” by Pawar. Some MLAs had conveyed concern over it but Thackeray was not willing to part ways with Pawar, Kadam alleged while talking to a TV channel.

However, NCP’s chief spokesperson Mahesh Tapase rejected Kadam’s remarks, alleging the BJP was behind the split in the Shiv Sena and that the rebel leaders were trying to deflect the attention from it by targeting Pawar.

On Monday, Kadam in a letter to Thackeray submitted his resignation as “Shiv Sena leader”.

Shiv Sena president and former state chief minister Uddhav Thackeray on Monday evening declared that Kadam was tackled for indulging in “anti-party” activities.

Kadam was later “reinstated” as leader by the rebel Sena faction directed by Chief Minister Eknath Shinde.

The Thackeray-led Maha Vikas Aghadi (MVA) government, encompassing the Sena, NCP and Congress, slumped last month after Shinde and 39 other Sena MLAs protested against the party.

Kadam on Tuesday told, “I have given ample proof to Uddhavji about how NCP chief Sharad Pawar is breaking the Shiv Sena.”

He (Pawar) has given good posts to partners of the Kunabi community (in Konkan) and also strengthened them with funds, Kadam contended.

“The chief minister was ours, funds came from government coffers, but the party (Sena) was systematically weakened by Pawar. Many MLAs expressed similar concerns before you (Uddhav Thackeray), but you were not ready to leave Pawar,” he further alleged.

Had (Sena founder) Balasaheb Thackeray been alive today, would he have permitted Uddhav Thackeray to become chief minister with the assistance of the NCP and Congress? Kadam gaped.

The former minister further told he had opposed Uddhav Thackeray’s move (in 2019) to enlist hands with the NCP and Congress to establish government in Maharashtra.

“I told him (Uddhav) that it is like committing a sin. His (Balasaheb Thackeray’s) soul will not be at peace with this arrangement,” he told.

Last month, when Shinde boycotted against the party, Ramdas Kadam’s son Yogesh Kadam, the MLA from Dapoli in Ratnagiri district, had also enlisted the rebel camp.

Meanwhile, NCP spokesperson Tapase told the MVA was set due to Pawar’s initiative and even after the revolution, the NCP is still funding Uddhav Thackeray and his group of Sena administrators.

Vedanta to give ₹19.50 per share as second interim dividend reached total to ₹7,250 crore

Himanshu Mishra — Tue, 19 Jul 2022 10:58:57 +0000

Billionaire Anil Agarwal-led Vedanta Ltd’s Board of Directors will expend ₹19.50 per equity announced as second interim dividend for fiscal 2022-23 gets total to ₹7,250 crore, the firm declared in a regulatory filing on Tuesday.

The interim dividend will be expended within stipulated timelines, the firm informed.

“We wish to inform you that the Board of Directors of the firm through resolution enacted by circulation on Tuesday, July 19, 2022 have authorized Second Interim Dividend of ₹19.50 per capital share i.e. 1950% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹7,250 crores,” the firm announcement said.

The record date for the purpose of expense of dividend is Wednesday, 27 July 2022, the metal and mining company announced.

A dividend implies the distribution of excess from the profits by a listed firm to its shareholders.

Vedanta has been refunding cash to shareholders through interim dividends every quarter, final earnings at the year-end and an occasional special dividend.

Vedanta’s board had declared the first interim dividend of ₹31.5 per equity share i.e. 3,150% of the face value of Re 1 per stake for the financial year 2022-23, which was reimbursed in May this year.

Vedanta Limited is one of the world’s steering oil and gas and metals firm with substantial operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.

PM Modi holds meeting with top ministers to discuss strategy before Monsoon session

Himanshu Mishra — Tue, 19 Jul 2022 09:34:46 +0000

Prime Minister Narendra Modi on Tuesday headed meetings with his top ministers to develop the government’s strategy in Parliament, for the ongoing Monsoon session.

This arrives after the Opposition parties are up in arms to bomb the government on the topics of price rise, GST hike, Agnipath scheme and even unwilling adjournments in both the Houses of the Parliament.

As soon as Rajya Sabha compiled on the second day of the Monsoon Session, the Rajya Sabha was adjourned till 2 pm due revolts and sloganeering by the opposition parties over inflation and GST rate trips.

Congress general secretary in charge of communications Jairam Ramesh took to Twitter handle to write , “Today the Opposition got the Rajya Sabha adjourned till 2pm on the issue of intolerable price rise and increase in GST, especially on food items, on which the Modi Sarkar is unwilling to have a debate.”

However, the Lower House of the Parliament has been adjourned till 2 pm due to sloganeering by Opposition MPs on issues of price hikes and inflation.

Lok Sabha Speaker Om Birla prior to adjourning the House proceedings till 2 pm told, “As per rules, it is not allowed to bring placards inside the House.”

Aam Aadmi Party MPs also carried protests against the Centre in front of the Gandhi memorial in Parliament against the pause in a nod for Singapore visit to Arvind Kejriwal.

The Monsoon Session of Parliament will proceed till August 12. There will be 18 sittings during the Session.

During the session, the Centre is apt to announce 24 Bills comprising the Press Registration Periodicals Bill, 2022.

While the Opposition has recorded 16 issues that include; Federalism arriving under strain; the Agnipath scheme; rising prices and uncontrolled inflation for debate during the monsoon session.

This session is crucial given the information that the Presidential Election and the Vice Presidential Election will be held during this duration. The Presidential Election took place on Monday while the Vice Presidential election will be held on August 6.

Polling for Presidential Elections 2022 ends, results to be out on July 21

Himanshu Mishra — Mon, 18 Jul 2022 13:01:37 +0000

Voting for Presidential election end at Parliament. Chief Returning Officer PC Mody told the Presidential poll was performed peacefully and cordially everywhere. The total turnout at Parliament was at 99.18 pc. Ballot boxes to reach in Parliament from across country by this (Monday) evening, he told.

Out of 736 electors (727 MPs, 9 MLAs) allowed of by the Election Commission (EC) to vote in Parliament in the Presidential poll, 730 (721 MPs, 9 MLAs) voted, told Chief Returning Officer PC Mody.

Ballot boxes from across the states will reach Delhi via road and air; assistant returning officers will escort them: Returning Officer for presidential poll PC Mody told news agency PTI.

NDA presidential candidate Droupadi Murmu is bidding the election against opposition’s nominee Yashwant Sinha. The numbers are loaded in Murmu’s favour after she earned support from unlikely quarters with parties like Shiv Sena, Jharkhand Mukti Morcha broadening their support recently. She had already received support from Biju Janata Dal and YSR Congress Party.

Yashwant Sinha, the former union minister, was chosen opposition candidate after Sharad Pawar, Farooq Abdullah and Mahatma Gandhi’s grandson, Gopalkrishna Gandhi, declined to run for the post. On Saturday, he made a plea to BJP lawmakers exhorting them to vote for him.

The president is indirectly appointed through an electoral college which encompasses members of parliament of both houses and members of legislative assemblies of all states and union territories. The nominated members are incapable to vote.

The results of elections for the President of India will be announced on July 21. The term of President Ram Nath Kovind ends on July 24.

Rupee touches record low of 80 against US dollar, probable to reach below 79 soon

Himanshu Mishra — Mon, 18 Jul 2022 11:53:58 +0000

The Indian rupee commences this week’s trading session by further rolling down against the US dollar at the interbank forex market. The local unit hit a record low of a little over 80 per dollar on Monday. The American currency corrected from its 20-year high mark against a basket of currencies as investors await major central banks policy announcements where a further aggressive rate hike is expected to tame inflation that is at multidecadal highs. The rupee is expected to range from 79.00-80.35 against the dollar this year, however, some solace is probable to be seen in March 2023-end quarter.

As per Investing.com data, the rupee shut at 79.96 against the US dollar higher by 17 paise compared to the last close. The local unit hit an intraday high of 80.075 – caressing a record low for the sixth consecutive session against the American currency.

Earlier, today the domestic currency did understand in the early deals and reached an intraday high of 79.714, tracking positive equities market, and a little drop in the dollar index. But the rupee stayed near the 80 levels during the closing hours.

Last week, on Friday, the rupee reached a low of 79.96 before correcting and shutting at 79.8775 against the dollar.

Sensex shut at 54,521.15 higher by 760.37 points or 1.41%. Nifty 50 leaped 229.30 points or 1.43% to 16,278.50. Banking, financials, IT, and metal stocks were leading performers.

This month, as of July 18, FPIs outflow in the Indian market is around ₹11,158 crore. Of which, an outflow of ₹9,067 crore is glimpsed in the equities market, while selloffs of ₹891 crore are listed in the debt market. There was an outflow of ₹1,140 crore and ₹59 crore in the debt-VRR and different market.

Jagdeep Dhankhar submits nomination for Vice-President polls, PM Modi accompanies

Himanshu Mishra — Mon, 18 Jul 2022 10:04:37 +0000

Jagdeep Dhankhar, the BJP-led NDA’s candidate for Vice-President, filed his nomination papers today. Prime Minister Narendra Modi was with him, as were Cabinet Ministers Rajnath Singh and Amit Shah, and BJP President JP Nadda.

In front of Mr Dhankhar, 71, a former West Bengal governor who had a big innings with the BJP in Rajasthan, the Opposition has put forward veteran Congress leader Margaret Alva, 77, in the polls slated for August 6. The last date for nominations is tomorrow.

The term of the existing Vice-President, M Venkaiah Naidu, ends on August 10. Mr Naidu, a former BJP president and union minister, had won effortlessly in 2017.

Mr Dhankhar resigned as governor yesterday to run for Vice-President, who is also the chairperson of the Rajya Sabha by default.

Ahead in the day, Mr Dhankhar met MPs from different parties supporting his proposal. There, too, PM Modi and other senior BJP leaders were present, other than that MPs from the Biju Janata Dal and Lok Jankshakti Party, among others.

PM Modi had illustrated Jagdeep Dhankhar’s farming background while declaring his name.

Kisan Putra Jagdeep Dhankhar Ji is known for his humility. He brings with him an illustrious legal, legislative and gubernatorial career. He has always worked for the well-being of farmers, youth, women and the marginalised. Glad that he will be our VP candidate. @jdhankhar1 pic.twitter.com/TJ0d05gAa8

— Narendra Modi (@narendramodi) July 16, 2022

Born in a Jat family in 1951 at Kithana village in Jhunjhunu, Rajasthan, Mr Dhankhar was a lawyer at the Supreme Court before getting politics in 1990.

He worked with former deputy PM Devi Lal, a Jat farmer leader from Haryana. In the short-lived, Congress-supported administration of Chandra Shekhar, Mr Dhankhar was a minister. He entered the Congress when PV Narasimha Rao became PM. But, as Ashok Gehlot rose to the top of the party in Rajasthan, Mr Dhankhar changed to the BJP.

Three years ago, he was elected Governor of West Bengal, where he had frequent run-ins with the Mamata Banerjee-led government. He was impeached by Ms Banerjee’s Trinamool Congress of doing the bidding of the BJP-led central government.

Government launches online dating to ‘restore’ Parsi population in the country

Himanshu Mishra — Mon, 18 Jul 2022 07:31:03 +0000

The Minority Affairs Ministry has formulated a strategy to “restore” the Parsi population in India, which has been found to be decreasing due to the eligible bachelors’ absence of desire for marriage. In light of this, the ministry connive the “Jiyo Parsi” programme, which enables Parsi men and women to commit in “online dating” and marriage counselling. Notably, according to statistics, about 30 per cent of eligible adults are unmarried in the Parsi community, PTI noted.

The Parsi community’s all-around fertility rate is about 0.8 per couple, and on average, 800 people die each year correlated to the birth of 200 to 300 children, which is terrible than the situation faced by Hindus, Muslims, Sikhs, and Christians, according to Shernaz Cama Director of Parzor Foundation, one of the organisations behind enforcing this scheme.

However, the “Jiyo Parsi” programme, for which a budget of 4 to 5 crore rupees is distributed annually, was introduced by the Minority Affairs Ministry in November 2013 with the goal of offsetting the population of the Parsi community and putting up their overall fertility rate in India.

Talking to PTI, Cama told, “Since the launch of the scheme (till July 15), 376 babies are born, which is more than the average of 200 babies born in the Parsi community every year… It has been found in the study that about 30 per cent of adults in the Parsi community are unmarried even though they are eligible for marriage. The main reason for not getting married is the strong feeling of independence among youth, especially women. They also have the responsibility of taking care of their elderly, which is another reason why they are not able to get married.”

US Woman hoax kidnapping in India after running out of money, gets caught

Himanshu Mishra — Mon, 18 Jul 2022 04:29:22 +0000

A 27-year-old US resident staying here allegedly staged her own kidnapping after she fled out of money in an operation to deceive cash from her parents, police told on Sunday. The woman, recognized as Chloe Mclaughlin, had come to Delhi on May 3. She is a graduate from a university in the US and her father, who resides in Washington DC, is an ex-army officer, they told.

Police told that on July 7, Mclaughlin phoned her mother and said that she was in an “unsafe environment” and was being attacked and beaten by a man known to her. She did not disclose her recent location though, they told.

Her mother reached the authorities in India, and the US Embassy presented the matter to New Delhi District police. The case had been announced after more than two and half months of arrival of the victim in India, police informed.

On July 10, Mclaughlin again talk to her mother via a video call on WhatsApp, but just before her mother could get some more evidence about her, a man joined the room and their arrival was cut short.

The United States Embassy guessed that the woman was either impaired or was being deterred from contacting her family or Embassy, told Amrutha Guguloth, Deputy Commissioner of Police, New Delhi.

Mclaughlin, when she was challenged, confided that she had staged her abduction as she had run out of money within few days of attaining Delhi, following which she and her boyfriend, Okoro, planned a plan to extort money from her parents, the DCP told.

The woman’s passport had terminated on June 6 and her boyfriend’s passport too had run out of validity, police announced.

Calcutta HC hands over Birbhum violence probe to CBI, asks for preliminary report by April 7

Himanshu Mishra — Fri, 25 Mar 2022 06:58:42 +0000

The Calcutta High Court on Friday ordered a CBI inquiry into the violence in West Bengal’s Birbhum district. The court, while hearing the matter on Friday, turned down the demand of the state government. The state originally asked to get the Birbhum violence investigated by the Bengal Police. To this, the High Court told the Advocate General (AG) of West Bengal that we do not see any reason behind stopping our order. So your demand is turned down.

Therefore, now the court has ordered the CBI to submit the investigation report of the case by April 7.

Following the finding of submissions by all parties in the previous two days. A Division Bench of Chief Justice Prakash Shrivastava and Justice R Bharadwaj headed the Special Investigation Team (SIT). This was set up by the state administration to probe the incident. And not to carry out investigation anymore handing over the case documents to the central agency. The court also instructed the state to hand over the accused charged in the case till date to the CBI.

The Political Arson of Birbhum violence

On the night of March 21, there was violence and arson in Baktui village of Birbhum district of West Bengal. Deputy President Bhadu Sheikh was associated with the ruling party Trinamool Congress. However, after his assassination, some disturbing elements set fire to about a dozen houses in Baktui village.

Conclusively, this act of violence has led a death toll of 8, including 6 women and 2 children. Taking suo motu cognizance of the incident, the High Court had summoned a detailed report within 24 hours. Lest, it also ordered the Delhi CFSL team to collect necessary samples from the spot for forensic examination.

After visiting Baktui village, Chief Minister Mamata Banerjee said on Friday that appropriate action would be taken against those who spread violence, irrespective of the political party they belong to. In his address after virtually inaugurating the newly constructed Vipulvi Bharat gallery at Victoria Memorial in Kolkata, Prime Minister Modi said, “I express my grief over this violent incident. I express my condolences on behalf of the central government. And assure the state that whatever help it wants will be provided to the criminals to get them punished at the earliest. I hope that the state government will definitely get those who commit such heinous sins punished on the great land of Bengal.”

European Union approves new DMA law, Check details here

Himanshu Mishra — Fri, 25 Mar 2022 06:03:35 +0000

European Union diplomats unveiled the final details to a new law that will force big tech companies to change in their core business practice, with significant fines or, in extreme cases, banning the worst offenders from acquisitions. The new Digital Markets Act establishes rules for companies that control data and platform access.

DMA rules set for gatekeepers include:

Companies have to make their messaging apps interoperable to prevent users from being tied to one network
Allowing users to choose a default search engine, web browser and virtual assistant when they purchase a new smartphone
Assuring fair access conditions for their app stores
companies will have to provide business users access to their data
Banning the companies from ranking their own products higher than others
If found breaching the law, fines of as much as 10% of a company’s global annual sales will apply, rising to 20% for repeat offences.

Diplomats agreed that “gatekeepers” include companies with a market capitalization of over 75 billion euros ($82.4 billion), 7.5 billion euros in annual revenue and at least 45 million monthly users. The act which takes effect next year will apply to companies such as Amazon.com Inc, Facebook parent Meta Platforms Inc, Google parent Alphabet Inc, Microsoft Corp, Apple Inc and Booking Holdings Inc Online marketplaces Zalando and Alibaba could also be affected.

“What we want is simple and fair markets also in digital”, Margrethe Vestager, the EU’s competition chief, said in a statement. “Large gatekeeper platforms have prevented businesses and consumers from the benefit of competitive digital markets,”

To successfully crack what the EU announces is a stranglehold on digital ecosystems by a few giants, officials announce they require fresh tools like the Digital Markets Act.

“From now on, digital firms must show that they permit fair contests on the internet,” Andreas Schwab, the parliamentarian in charge of writing the rules, said in an announcement. “That can be enforced more effortlessly with the new rules. This suggests that the time of long antitrust cases, during which the administrations were lagging behind the big tech firms, is over.”

Some of the industry’s leaders informed that the Digital Markets Act will cause trouble for users and be a financial hit for firms. An Apple spokesperson penned after the agreement that the firm terminus to be “concerned that few provisions of the DMA will build unfair privacy and security vulnerabilities for our consumers while others will restrict us from charging for intellectual property in which we get a great deal.”

Others have announced that forcing messaging apps such as WhatsApp or iMessage to be interoperable will influence encryption, or stifle iterative product design that is a hallmark of Silicon Valley entrepreneurship.

UK FM Rishi Sunak questioned over Infosys’ Russian connection

Himanshu Mishra — Fri, 25 Mar 2022 04:51:48 +0000

UK Chancellor of the Exchequer Rishi Sunak, who is also tipped to be the next prime minister of Britain, got targeted by media questions about the Infosys presence in Russia, the Indian software services firm in which his wife Akshata Murty has a share.

With citation to strict sanctions being imposed on Russia, the Indian-origin finance minister who is the son-in-law of Infosys co-founder Narayana Murthy was questioned on air by a ‘Sky News’ reporter during a television talk. The interviewer asked if his suggestion to industries was not being fulfilled within his own home. The minister emphasized that the operations of individual firms were an issue for them.

“It’s been noted that you’ve got family links to Russia, that your wife evidently has a stake in the Indian consultancy association Infosys,” asked the reporter.

“They function in Moscow, they have an office there, they have a delivery headquarters there. They’ve got a relation to the Alpha Bank in Moscow. Are you offering advice to others that you’re not fulfilling in your own home?” she asked.

Sunak answered that as “an elected politician”, he was providing the interview about what he’s liable for. “My wife is not,” he said. On being further countered by the reporter on whether his family was “potentially benefiting” from Russian President Vladimir Putin’s administration, he answered: “I don’t think that’s the situation, and as I said the operations of all firms are up to them.

“We’ve put in place crucial sanctions and all the firms we are liable for are proceeding those as they rightly should, sending a very vital message to Putin’s attack.” He was then directly questioned if Infosys, which also has a UK presence, was delivering a likewise “strong message”.

“I certainly have no idea because I have nothing to do with that firm,” answered Sunak.

An Infosys statement announced that the multinational software services major “supports and advocates for peace” between Russia and Ukraine. The announcement noted: “Infosys has a small team of employees based out of Russia, that aids some of our global clients, locally. We do not have any strong business connections with local Russian enterprises.

“A major priority for Infosys in times of tensions is to proceed extending support to the community. The firm has committed $1 million towards relief efforts for the sufferers of war from Ukraine.”

The UK has put wide-ranging sanctions on Russian businesses and individuals, with Sunak issuing a call for all UK firms to “think very carefully” about any involvements in Russia over the ongoing Ukrainian conflict.

“I am requesting companies to think very carefully about their interests in Russia and how they may benefit the Putin regime – and I am also sure that there is no case for new investment in Russia. We must completely go further in our task to inflict maximum economic grief – and to stop further bloodshed,” he told earlier this month.

UN General Assembly adopts resolution on humanitarian consequences in Ukraine due to Russian invasion

Himanshu Mishra — Thu, 24 Mar 2022 16:47:06 +0000

The UN General Assembly on Thursday overwhelmingly agreed on a resolution blaming Russia for the humanitarian crisis in Ukraine and persuading a complete cease-fire and protection for millions of residents and the homes, schools and hospitals critical to their survival.

The voting ratio on the resolution was 140-5 with only Belarus, Syria, North Korea and Eritrea supporting Russia.

The resolution talks of the “dire humanitarian consequences” of Russia’s attack which it finds something that the international community has not seen in Europe in decades. It mentions Russia’s shelling, airstrikes and besiegement of heavily populated cities, with the southern city of Mariupol, and asks for an unhindered permit for humanitarian aid.

While abstaining from the voting, India’s permanent representative T.S. Tirumurti said, “India continues to stay deeply concerned at the ongoing situation, which has rapidly been deteriorating since the beginning of the hostilities. The conflict has resulted in the death of civilians and nearly ten million people have either been displaced internally or moved to neighbouring countries. We have constantly called for a cessation of hostilities.”

He also noted that the humanitarian situation in the region continues to worsen, particularly in the conflict zones in urban centres. Women, children and the elderly are disproportionately affected by the prolonging of the conflict. We reiterate our call for an immediate ceasefire.

“There is an urgent need to address the humanitarian needs of the affected population. In this regard, we support the initiatives of the UN and its agencies. We hope the international community will continue to respond positively to the humanitarian needs of the people of Ukraine, including through extending generous support to the Secretary General’s Flash Appeal and the Regional Refugee Response Plan on Ukraine,” he added.

Clarifying India abstain, he concluded that “Since what we require now is to focus on the cessation of hostilities and urgent humanitarian assistance. The draft resolution did not fully reflect our expected focus on these challenges.”

G7 planning to halt Russian gold transactions: White House

Himanshu Mishra — Thu, 24 Mar 2022 15:22:32 +0000

The G7 group of developed economies and the European Union approved to shut off transactions comprising the Russian central bank’s gold funds to hamper any Moscow bid to circumvent Western sanctions, the White House announced on Thursday.

The allies will function together “to blunt Russia’s potential to fund… (President Vladimir) Putin’s war, comprising by bringing clear that any transaction affecting gold… is covered by previous sanctions,” the statement announced.

Group of Seven leaders have confirmed they are prohibiting the Russian Central Bank’s use of gold in transactions, while the US declared a new round of sanctions targeting more than 400 elites and members of the Russian State Duma.

Earlier, sanctions against Russian elites, the country’s Central Bank and President Vladimir Putin did not affect Russia’s gold stockpile, which Putin has been collecting for several years. Russia holds approximately $130 billion in gold reserves, and the Bank of Russia declared Feb 28 that it would continue the purchase of gold on the domestic important metals market.

White House officials announced that this move will further stop Russia’s potential to use its international stocks to prop up Russia’s economy and fund its battle against Ukraine.

However, the Biden administration declared more sanctions targeting 48 state-owned defence firms, 328 members of the Duma, Russia’s lower parliament, and dozens of Russian elites. The Duma as an element was also called in the new sanctions.

Volodymyr Zelenskyy alleges Russia of using phosphorus bombs in Ukraine

Himanshu Mishra — Thu, 24 Mar 2022 13:31:59 +0000

Ukrainian leader Volodymyr Zelensky condemned Russia on Thursday for deploying phosphorus missiles in his nation and urged NATO to deliver military support.

“This morning, by the way, phosphorus bombs were utilized. Russian phosphorus bombs. Adults were murdered again and children were massacred again,” Zelensky said during a video talk to the US-led military alliance.

Russian forces have been impeached for using a banned military tactic during the attack on Ukraine. White phosphorus munitions were deployed in the eastern town of Kramatorsk on Monday, according to the deputy head of Kyiv’s law.

Clip taken on phones and by an ITV film crew indicated a glittering light substance falling in from the sky onto the town below. Oleksiy Biloshytskiy dropped a video of material burning fiercely on the ground as it was stroked with a spade.

“Another practice of phosphorus ammunition in Kramatorsk,” he announces in the video. White phosphorous is utilized to effect rapid fires because of the forcefully it combusts with oxygen. Biden asserted the phosphorus attack as “a real threat” as he got to Europe to take part in a NATO summit on Wednesday.

The US has also repeated its alarm that Russia could be about to direct a ‘false flag’ attack to explain using chemical weapons. Biden has previously said Russia’s claim that Ukraine has biological and chemical weapons is a clear sign Mr Putin is considering using them. He has warned of severe consequences if they are deployed.

India & Russia ahead of US in hypersonic technology: Senator

Himanshu Mishra — Thu, 24 Mar 2022 05:16:59 +0000

The US is no longer monopolizing various advanced technologies, an influential American Senator in Washington has identified, announcing that India, Russia, and China have advantages on hypersonic technology.

“We’re in a condition where we have technological improvements. We tried to overlook the technology. That’s no longer the case. Hypersonic, clearly, China and India, Russia have benefits on it” said Senator Jack Reed, Chairman of the Senate Armed Services Committee announced during a nomination hearing on Wednesday.

“We are about to appear for the first time in the history of the world in a trilateral nuclear competition. No longer bilateral. The Soviet Union, the United States — no, it’s China, Russia, and the United States,” Senator Reed announced and asked Dr William LaPlante, to be undersecretary of defence for gain and sustainment, how he plans to address these issues.

Dr LaPlante told he hopes to begin instantly to accelerate bringing into the mainstream weapons systems. “These recent technologies that you spoke about. We do have a lot of initiatives over the last numerous years, thanks to this committee, manipulating your authority to rapidly contract and to do prototypes. I think that’s very good,” he announced.

“We got to get those abilities rapidly into the missiles systems, and sometimes, bridge what they call the valley of death. So, I vow to work with the programme officers to make it their job to do consecutive upgrades of technology so we can get back into this class that you talked about,” he added.

He announced the mission of delivering and maintaining timely, cost-effective, and uncompromised abilities for the armed troops and the DOD has never been more critical than it is today.

“China, our pacing warning; an increasingly authoritarian Russia concentrated on regional hegemony; malign actors; and other existential dangers pose grave threats to the global order and threaten our way of life,” Dr LaPlante announced in his opening remarks.

Reacting to another question, he asserted a failed test is one where one doesn’t understand.

“One has to proceed to do testing to your point. We assessed in 2010, 2011 a combined DARPA, Air Force experiment to fly in a hypersonic glide automobile from Vandenberg Air Force Base to Kwajalein. The two tests, they both failed, and the United States ceased hypersonic glide vehicle work,” he announced.

“China and Russia just fulfilled going. And so you have to test, you have to understand from the tests and just keep going,” LaPlante announced in response to Senator Angus King.

Domestic broking industry to record Rs 28,000 crore in revenue this fiscal: ICRA

Himanshu Mishra — Wed, 23 Mar 2022 16:24:50 +0000

The broking industry is set to clock around ₹28,000 crore revenue for the current financial year (FY22), which is a boost of 30% over last year, according to an announcement by rating agency Icra.

However, after a record run, the business is fixed for a muted growth next fiscal despite the outlook being stable, Icra announced.

According to the agency, this expansion illustrates into a net addition of 28.33 lakh accounts per month in the present fiscal, which doubled the monthly addition of 11.91 lakh in FY21 and 4.1 lakh a month in FY20.

Other than the raised trading volume, the average investment by investors also boosted during the year, directing to higher revenues, as the broking fee is founded on trading volume. For instance, among the retail-focused brokerages, the average revenue per effective client rose 25 per cent to ₹12,788 in FY21 from ₹10,238 in FY20.

The report is founded on 18 brokerages which on average witnessed revenue growth of around 38%. The influx of retail investors to the demand is also evident from the 179% boost in trading volumes during the early nine months of FY22.

Average daily turnover surged 126 per cent to ₹63.07 lakh crore during the first nine months of FY22 from ₹27.92 lakh crore in FY21 and ₹14.39 lakh crore in FY20, announces the report, adding however the market will be very volatile following fiscal amid several domestic and international headwinds.

An inspection of the 10 top retail-oriented broking firms indicates that aggregate capital market loan book comprising margin funding, loan against securities, employee stock ownership plan funding, increased by 141% to ₹11,076 crore as of March 2021 from ₹4,591 crore in March 2020, and followed to ₹18,643 crore as of September 2021, bobbing at 68% on-year.

Among the sample of retail-focused brokerages, average revenue per active client increased to 25% to ₹12,788 in FY21 from ₹10,238 in FY20.

Foreign Secy Harsh Vardhan Shringla reaches New York for vote on UN’s resolution on Ukraine crisis

Himanshu Mishra — Wed, 23 Mar 2022 15:11:08 +0000

India’s top official, Foreign Secretary Harsh Vardhan Shringla, reached New York, before the UN General Assembly (UNGA) and the UN Security Council (UNSC) voted on draft resolutions on the humanitarian crisis in Ukraine.

The Foreign Secretary is foreseen to take part in the Security Council meeting on cooperation between the UN and the League of Arab States.

“Delighted to welcome Foreign Secretary @harshvshringla in New York. Foreign Secretary will join in the UN Security Council meeting on cooperation between the UN and the League of Arab States,” India’s Permanent Representative to the UN Ambassador T S Tirumurti informed on Twitter.

Shringla’s arrival in New York arrives as the United Nations is ready to watch a busy and crucial day over Russia’s attack on Ukraine. After the UNSC meeting on cooperation among the United Nations and the League of Arab States, the Council is predicted to vote on a draft resolution on the humanitarian crisis in Ukraine put forward by Russia.

The UN General Assembly will also continue the 11th Emergency Special Session on Ukraine and vote on a resolution proposed by Ukraine and its allies. On earlier occasions, India abstained on resolutions in the Security Council and the General Assembly on the Russian invasion against Ukraine.

Moscow had a previous week put off a vote on its resolution and US Ambassador Linda Thomas-Greenfield announced that Russia did so “because they realized that they didn’t have backing for that resolution”.

On what kind of vote the Russian resolution will bring in the Security Council on Wednesday, she told “there is no support for the resolution in the Council”. The American envoy asserted that Russia putting forth a humanitarian resolution on Ukraine is akin to an “arsonist summoning for the neighbours to enable him put out the fire that he began in one neighbour’s house”.

While Russia’s First Deputy Permanent Representative Dmitry Polyanskiy said to agencies that Russia will go-ahead for a vote in the Security Council on its draft resolution on the humanitarian crisis in Ukraine Wednesday.

“We submitted a UNSC draft resolution that will be voted on tomorrow. It will be a good opportunity to see if our Western colleagues really mind about the things that they endorse in their statements because they are all in our resolution. We’ll discern whether they are critical about it or whether it is just a false flag for them,” he informed reporters on Tuesday.

Ukraine President Volodymyr Zelenskyy in hopes to talk to his Chinese counterpart

Himanshu Mishra — Wed, 23 Mar 2022 13:37:37 +0000

Ukrainian President Volodymyr Zelensky is intending to hold discussions with Chinese President Xi Jinping, tells Ukrainian presidential spokesman Andriy Yermak, as part of a whirlwind of actual visits for Ukraine’s president to rally backing for his nation in the face of Russia’s almost monthlong invasion.

“Kyiv is optimistic Beijing will play a more leading role in bringing this battle to an end,” Mr. Yermak tweeted.

On being questioned, that whether Mr. Zelensky will talk with Mr. Xi, Chinese Foreign Ministry spokesman Wang Wenbin announced Beijing is pursuing communication with relevant parties on the Ukrainian crisis.

China is recognized as a key because of its possibility of sway over Moscow. President Biden instructed Chinese leader Xi Jinping that China and its connections with the U.S. would undergo if Beijing provides substantive assistance to Russia in its military invasion of Ukraine.

On Tuesday, Mr. Zelensky held conversations with Canadian Prime Minister Justin Trudeau and others, comprising of Pope Francis, on the eve of a procession of meetings in Brussels attended by mostly Western leaders. Mr. Biden is planning to meet leaders of NATO, the Group of Seven and the European Union to talk about support for Ukraine and how to punish Moscow for its attack.

US President Joe Biden flies off to Europe for emergency NATO summit

Himanshu Mishra — Wed, 23 Mar 2022 12:51:05 +0000

US President Joe Biden flies off to Europe today for an emergency NATO summit on Ukraine, where invading Russian armies are seated, towns are under bombardment and the besieged port of Mariupol is on fire.

Four weeks into a battle that has led a quarter of Ukraine’s 44 million citizens from their homes, Russia has flunked to occupy a single major Ukrainian city, while Western sanctions have tabbed it from the world economy.

After failing in what Western countries call was a try to seize Kyiv swiftly and depose the government, Russian troops have taken heavy losses, are chilled in place for at least a week on most fronts and face stock problems and intense resistance. They have spun siege moves and bombardment of towns, causing huge destruction and many civilian deaths.

Moscow announced it intends to disarm its neighbour, and its “special military operation” is getting on to plan. It denies targeting residents. The worst slam has been Mariupol, a southern port surrounded by Russian forces, where hundreds of thousands of civilians have been protecting since the war’s early days, under constant bombardment and with food, water and heat stocks cut.

New satellite photographs from commercial company Maxar published overnight indicated huge destruction of what was once a city of 400,000 people, with columns of smoke surging from residential apartment houses in flames.

No journalists have been eligible to announce from inside the Ukrainian-held parts of the town for more than a week, during which time Ukrainian officials announced Russia has bombed a theatre and an art school used as bomb shelters, burying hundreds of people alive. Russia rejects targeting those houses.

Biden is expected to reach Brussels on Wednesday evening. He will meet NATO and European leaders in an emergency conference at the Western military alliance’s headquarters. The leaders are predicted to roll out additional sanctions against Russia on Thursday. Sources announced the U.S. package would comprise estimates targeting Russian members of parliament.

Biden will also tour Poland, which has taken in most of the more than 3.6 million refugees who have left Ukraine and performed as the major route for Western supplies of weapons to Ukraine.

Defense Ministry approves Rs 4,000 crore proposal for surveillance satellite

Himanshu Mishra — Tue, 22 Mar 2022 16:25:33 +0000

In a suggestion to fund a dedicated surveillance satellite to hold an eye on the activities along the borders with China and Pakistan, the Defence Ministry gave a ₹4,000 crore proposal. The Indian Navy and Air Force already have assigned satellites of their own and the authorization to this will enable the Indian Army to attain the ability.

Government sources notified ANI, “The Defence Acquisition Council meeting on Tuesday accepted the recommendation for a made in India committed satellite for the Indian Army. The project for the satellite GSAT 7B will be conducted in partnership with the Indian Space Research Organisation (ISRO) and would enable the Indian Army to enhance its surveillance in border areas.”

The Indian Army has been helping towards boosting capabilities along with enhancing its surveillance aids comprising drones along the Line of Actual Control (LAC) with China since the military standoff with the neighbouring nation from April-May 2020,

The satellite built by ISRO would also assist the Make in India programme begun by Prime Minister Narendra Modi to create an indigenous industry in the nation, defence officials announced.

Coal Ministry planning to ease norms to boost production

Himanshu Mishra — Tue, 22 Mar 2022 15:40:44 +0000

India’s coal ministry will aim for a relaxation of a few environmental criteria to enable boost the country’s overall coal production, coal minister Pralhad Joshi explained on Tuesday.

Domestic need for coal has surged extensively because of a steep hike in international prices, Joshi told, according to a press statement published by India’s Ministry of Coal.

The minister underlined that upheld supply of coal to the power sector is of crucial importance. He persuaded CIL and the Ministry of Coal officials to discuss upon immediate measures expected to improve coal production.

Pralhad Joshi has also asked Coal India to finalize 35 first mile connectivity projects as per the existing deadlines.

Recently Coal Secretary told that Indian industries, including steel and aluminium makers, will be expected to proceed with importing expensive coal shipments to fulfil their requirement, as the cheaper, domestically produced fuel will be prioritized to energy generators.

While Coal India Ltd. will assure that stocks to the non-power sector don’t decrease, any deficit must be bridged by overseas shipments. The miner will attain need from power producers, and only the lasting supplies will go to other industries, he told.

Benchmark Asian coal spot prices formerly rose to a record as buyers across the region scrambled to discover options to Russian supply, further extending the fuel’s availability. Meanwhile, India’s domestically generated coal is sold at a deep discount to overseas rates, with rates regulated by the nation’s top miner.

Coal India is lifting more supplies to power creators to avoid a repeat of last year’s shortage, prioritizing residents over industries in order to provide accessible energy.

Adani Port cargo volume surges to 300 MMT in FY21

Himanshu Mishra — Tue, 22 Mar 2022 14:46:53 +0000

Adani Ports and Special Economic Zone Ltd (“APSEZ”) attains a new milestone by passing over cargo volumes of 300 million metric tonnes before the financial year-end on March 31, 2022. With that, Adani Ports proceed to outperform all India cargo volume growth, with its market share surging promptly.

Karan Adani, CEO, and Whole Time Director, APSEZ announced, “The momentum of our cargo volumes is a manifestation of our ability to proceed to complete on our strategy.”

Adani Ports has been continuously engaged with boosting its cargo volumes. While the Adani Group firm took about 14 years to accomplish 100 million metric tonnes annually with five ports in its portfolio, notably, the firm made twice as much its cargo volumes to 200 million metric tonnes in just the successive five years with nine ports in its belt.

Now with 12 ports in its portfolio, Adani Ports has got a milestone of organizing 300 million metric tonnes annually in a time frame of just 3 years. In an announcement, the firm asserted that the three-year journey from 200 MMT to 300 MMT comprises the two years of global economic deceleration due to the pandemic.

Further, Adani told, “This achievement also emphasizes the ability of APSEZ to modify to fast-paced modifications due to the global market and geopolitical volatility and proceeds its journey towards sustainable development. I must thank our devoted teams that lead our growth and our tremendous workforce that makes it all take place on the ground. We are optimistic of reaching our goal of 500 MMT by 2025 and emerge as the world’s biggest private ports firm by 2030.”

“We anticipate our expansion is going to continue to accelerate given our abilities that are now best-in-class and the tailwind of a thriving Indian economy,” Adani announced.

In line with ramping up its industrial operations, Adani Ports has also considerably delivered on its responsibilities to sustainability. Energy and emission power has been reduced by around 30% from 2016 levels. Electrification of Rubber Tyred Gantry Cranes (RTGs) has been completed, and that of Quay Cranes and Mobile Harbour Cranes is in progress, with 2023 as the mark fulfillment year. Diesel-based Internal Transfer Vehicles (ITVs) are being displaced by electric ITVs. The initial batch of 100 electric ITVs is likely to appear in mid2022 and the total count is expected to cross 400 in 2023. Another green port drive is a 50% discount on Port Dues, Pilotage, and Berth Hire Charges for ships using LNG as fuel. With increased afforestation and numerous other green measures already underway, APSEZ is well on its way to accomplishing its target of carbon neutrality by 2025.

On Tuesday, Adani Ports stakes ended in the green on BSE. The stock sat at ₹739.65 apiece up 0.6% on the exchange. The stock has reached an intraday high and low of ₹744.15 apiece and ₹723.20 apiece respectively.

World is looking at India very favourably: Niti Aayog CEO Amitabh Kant

Himanshu Mishra — Mon, 21 Mar 2022 16:21:31 +0000

Niti Aayog CEO Amitabh Kant on Monday announced that Indian startups are affecting the world in many means, particularly in the modern developing sectors of health and agriculture.

Addressing a program by FICCI Ladies Organisation (FLO), Amitabh Kant told that women entrepreneurs are the vehicles to get a more equal society. He further asserted that India currently has more than 61,000 start-ups and 81 unicorns.

“Indian start-ups are disrupting the world primarily in new developing regions of health, nutrition and agriculture,” he announced. According to Kant, women-owned businesses and enterprises are playing a very crucial role in the nation and will soon be the subsequent big disruption within the Indian start-up ecosystem.

“Women-based entrepreneurship is one of the vehicles for getting a more equal society as more women take on entrepreneurship, it performs as a catalyst for socio-economic transformation, by strengthening women’s agency and status,” he said.

The Niti Aayog CEO reported that presently venture capital (VC) and private equity firms are helping women start-ups. “This will help frame strategies and propose appropriate steps to promote healthy growth of startups and will help improve women entrepreneurship,” he announced.

Kant told that today India is a compelling growth story steadied for rapid development in consumption, urbanisation, digitisation along with surging income levels. To all the women entrepreneurs constituting potential entrepreneurs, he asserted: “The world is watching at India very favourably.”