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moneycontrol.com
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https://www.moneycontrol.com/news/india/congress-session-in-karnataka-s-belagavi-begins-tomorrow-how-is-the-event-linked-to-mahatma-gandhi-12897507.html
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Congress session in Karnataka's Belagavi begins tomorrow: How is the event linked to Mahatma Gandhi
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The meeting of around 200 leaders has been christened the Nav Satyagraha Baithak'..Related stories.
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The Congress Working Committee (CWC) will hold a two-day programme on December 26 and 27 in Belagavi, Karnataka, to mark the centenary celebrations of the 1924 Indian National Congress session presided over by Mahatma Gandhi. It was the only Congress session presided over by Mahatma Gandhi. The meeting of around 200 leaders has been christened the “Nav Satyagraha Baithak”. It will be followed by a “Jai Bapu, Jai Bhim, Jai Samvidhan” rally on Friday. The two-day session will also see the attendance of the Congress brass including party chief Mallikarjun Kharge, Leader of the Opposition in the Lok Sabha Rahul Gandhi, Wayanad MP Priyanka Gandhi Vadra along with CWC members and senior party leaders from across the country, including its chief ministers and state unit presidents. "We are organising a historic conference on December 26 and 27 in Belagavi remembering the hundredth anniversary of the congress session presided over by Mahatma Gandhi. The Belagavi session of the Indian National Congress was a historic one in our Indian political history," said AICC general secretary K C Venugopal. What is on the agenda? Venugopal said the party will analyse the current political situation, and the BJP government's laws endorsing their ideology, and discuss what Congress' ideology stands for. He said the Congress had strongly taken up the issue of the "insult" of Ambedkar by Home Minister Amit Shah and had been demanding the sacking of Shah as well as an apology from him. Why is the 1924 session historic? Gandhi had held the post of the Congress president between December 1924 and April 1925. After his release from prison in February 1924 following a surgery, Gandhi was reprotedly unhappy over the lack of unity between Hindus and Muslims during the freedom struggle. He went on a 21-day fast from September 18 to October 8 that year to “bridge” this divide. He also wanted to address the issue of rampant factionalism in the Congress. In this session, Gandhi underlined his ideas of non-violence. “At the Special Session of the Congress at Calcutta in 1920, the boycott of Government titles, law-courts, educational institutions, legislative bodies and foreign cloth was resolved upon. All the boycotts were more or less taken up by the parties concerned… Though not a single boycott was anywhere near completion, every one of them had undoubtedly the effect of diminishing the prestige of the particular institution boycotted. The most important boycott was the boycott of violence….” Gandhi said as quoted by Indian Express. On Hindu-Muslim unity and fighting untouchability, Gandhi said untouchability was another hindrance to swaraj. “Its removal is just as essential for Swaraj as the attainment of Hindu-Muslim unity. This is an essentially Hindu question and Hindus cannot claim or take swaraj till they have restored the liberty of the suppressed classes,” he had said in his address. The session was attended by several senior Congress leaders including Jawaharlal Nehru, Sardar Vallabhbhai Patel, Sarojini Naidu, and Khilafat movement leaders Muhammad Ali Jauhar and Shaukat Ali, among others.
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2024-12-25 17:22
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2024-12-25
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17:22
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moneycontrol.com
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https://www.moneycontrol.com/news/india/maharashtra-local-bodies-polls-likely-by-april-2025-if-sc-decides-on-obc-quota-chandrashekhar-bawankule-12897515.html
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Maharashtra local bodies polls likely by April 2025 if SC decides on OBC quota: Chandrashekhar Bawankule
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Maharashtra minister Chandrashekhar Bawankule (Courtesy: ANI photo).Related stories.
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Maharashtra minister Chandrashekhar Bawankule on Wednesday said the pending elections to local bodies in the state will be held in March-April 2025 if the Supreme Court gives its decision on the OBC reservation in the first week of January. Addressing a press conference in Nagpur, he said a hearing on the quota for the Other Backward Classes (OBC) is listed in the apex court in the first week of January. "The State Election Commission will conduct the polls and the state government will provide all the support," the Revenue Minister said. The five-year term of most of the municipal corporations, including the Brihanmumbai Municipal Corporation (BMC), and other local bodies in the state expired in 2022. In December 2021, the Supreme Court had ruled that reservation for OBCs in local bodies will not be allowed unless the government fulfils the triple test laid down in the apex court's 2010 order. It had ruled that until the triple test criteria is fulfilled, the OBC seats will be re-notified as general category seats. The triple test required the state government to set up a dedicated commission to gather data on the backwardness of OBCs in every local body, to specify the proportion of reservation in each local body in light of commission’s recommendations, and ensure that such reservation does not exceed 50 per cent of the total seats reserved for SC/ST/OBC together. Bawankule further said there were complaints that several properties owned by private charitable trusts and educational institutions were forcibly taken over by the Waqf Board in Maharashtra. "Once the Waqf (Amendment) Bill is cleared by Parliament, it will be implemented in Maharashtra. If there are any wrongdoings, they will be rectified," he said. The Maharashtra BJP chief said that under the Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA), the process to conduct a drone survey of villages began in 2021 to provide e-property cards to farmers for ownership of their land in rural areas. The e-property cards in 15,327 of the 30,515 villages are ready and will be distributed soon, he said.
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2024-12-25 17:10
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2024-12-25
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17:10
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moneycontrol.com
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https://www.moneycontrol.com/elections/assembly-election/delhi/public-no-longer-trusts-us-aap-councilor-ravindra-solanki-slams-delhi-government-article-12897501.html
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'Public no longer trusts us': AAP councilor Ravindra Solanki slams Delhi government
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Despite these clarifications, AAP convenor Arvind Kejriwal maintained that his political opponents were rattled by the schemes and alleged plans for raids on senior AAP leaders..Related stories.
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Hours after the Women and Child Development Department of Delhi government issued a public notice stating that the "Mukhyamantri Mahila Samman Yojana" doesn't exist, AAP councilor Ravindra Solanki slammed the AAP dispensation for not keeping its earlier promise of Rs 1,000 allowance before unveiling the new scheme. “A lot of women come to the office asking about the Rs 1,000 allowance. So far, no Rs 1,000 allowance has been given, and now they are queuing up for the Rs 2,100 proposed allowance. We want to tell Kejriwal ji that he should have first fulfilled the promise of the Rs 1,000 allowance before announcing another scheme,” Solanki was quoted by ANI as saying. The WCD department's formal notice came days after the party launched a registration drive for the scheme, which is expected to provide Rs 2,100 monthly to non-tax paying women in Delhi. Trying to reap maximum political dividend from the incident, the Bharatiya Janata Party has accused AAP of misleading Delhiites with false promises. BJP MP Bansuri Swaraj called the schemes a "hoax" and criticized Kejriwal's administration for financial mismanagement. Additionlly, she was quick to point out a Rs 7,000-crore deficit under his leadership and accused AAP of stalling central welfare schemes like Ayushman Bharat. Subsequently, the Women and Child Development Department also declared that The Sanjeevani Yojana, another AAP initiative promising free healthcare for senior citizens, is also non-existent.The department warned citizens against sharing personal information with anyone claiming to offer benefits under these schemes. Despite these clarifications, AAP convenor Arvind Kejriwal maintained that his political opponents were rattled by the schemes and alleged plans for raids on senior AAP leaders.
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2024-12-25 17:04
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2024-12-25
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17:04
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/trade-setup-for-december-26-top-15-things-to-know-before-the-opening-bell-12897258.html
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Trade setup for December 26: Top 15 things to know before the opening bell
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Nifty Trade Setup.Related stories.
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The market remained within the previous day's range on December 24, closing 0.1 percent down ahead of the monthly F&O expiry due on December 26. However, it defended the 200-day EMA (23,700) for another session, while the VIX fell sharply this week. Additionally, the index stayed within the broad range of 23,500-24,000 from last Friday (key support and resistance levels). A decisive breach on either side could determine the future market direction. Until then, consolidation may continue. A break below 23,500 could lead to a test of the November low (23,263), while a move above 24,000 could encounter resistance at 24,300, according to experts. Here are 15 data points we have collated to help you spot profitable trades: 1)Key Levels For TheNifty 50(23,728) Resistance based on pivot points: 23,830, 23,873, and 23,943 Support based on pivot points: 23,690, 23,647, and 23,578 Special Formation: The Nifty 50 formed an Inside Bar pattern on the daily charts for another session, signaling caution. The index remained below the 10, 20, 50, and 100-day EMAs (Exponential Moving Averages), which is a negative sign, though it remains slightly above the 200-day EMA. The momentum indicator RSI (Relative Strength Index) at 38 remained in the lower band, and the MACD (Moving Average Convergence Divergence) continued to stay below the zero line, maintaining a negative bias. 2)Key Levels For TheBank Nifty(51,233) Resistance based on pivot points: 51,344, 51,402, and 51,495 Support based on pivot points: 51,157, 51,100, and 51,006 Resistance based on Fibonacci retracement: 51,387, 51,864 Support based on Fibonacci retracement: 50,660, 49,787 Special Formation: The Bank Nifty also formed an Inside Bar pattern on the daily timeframe for another session, staying within the previous Friday’s broad range of 1,000 points (50,600-51,600). Furthermore, the index remained below all key moving averages, except for the 200-day EMA. The momentum indicator RSI (at 40.6) stayed in the lower band, and the MACD slipped further below the zero line, signaling a negative outlook. The index was down 0.16 percent.Image 2 3)Nifty Call Options Data According to the monthly options data, the maximum Call open interest was placed at the 24,000 strike (with 1.16 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (92.12 lakh contracts), and the 23,800 strike (68.72 lakh contracts). Maximum Call writing was observed at the 24,100 strike, which saw an addition of 9.4 lakh contracts, followed by the 24,150 and 23,850 strikes, which added 8.23 lakh and 7.85 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,350 strike, which shed 4.88 lakh contracts, followed by the 24,000 and 23,000 strikes, which shed 4.85 lakh and 2.56 lakh contracts, respectively. 4)Nifty Put Options Data On the Put side, the 23,500 strike holds the maximum open interest (with 90.44 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,000 strike (85.95 lakh contracts), and the 23,700 strike (62.05 lakh contracts). The maximum Put writing was placed at the 22,900 strike, which saw an addition of 15.04 lakh contracts, followed by the 23,800, and 23,700 strikes, with 11.29 lakh, and 11.17 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,500 strike, which shed 9.85 lakh contracts, followed by the 23,000 and 24,000 strikes, which shed 8.93 lakh and 8.13 lakh contracts, respectively. 5)Bank Nifty Call Options Data According to the monthly options data, the maximum Call open interest was seen at the 53,000 strike, with 8.76 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 52,000 strike (6.79 lakh contracts) and the 51,500 strike (5.72 lakh contracts). Maximum Call writing was visible at the 51,500 strike (with the addition of 2.68 lakh contracts), followed by the 52,000 strike (2.1 lakh contracts) and the 51,200 strike (1.53 lakh contracts), while the maximum Call unwinding was seen at the 53,000 strike, which shed 31.55 lakh contracts, followed by the 52,000 and 51,500 strikes, which shed 30.11 lakh and 29.17 lakh contracts, respectively. 6)Bank Nifty Put Options Data On the Put side, the 51,500 strike holds the maximum open interest (with 6.6 lakh contracts), which can act as a key level for the index. This was followed by the 50,000 strike (6.38 lakh contracts) and the 51,000 strike (5.78 lakh contracts). The maximum Put writing was observed at the 51,500 strike (which added 3.26 lakh contracts), followed by the 51,000 strike (1.85 lakh contracts) and the 52,500 strike (1.84 lakh contracts), while the maximum Put unwinding was seen at the 51,000 strike, which shed 24.46 lakh contracts, followed by the 50,000 and 51,200 strikes, which shed 21.52 lakh and 14.89 lakh contracts, respectively. 7)Funds Flow (Rs crore) 8)Put-Call Ratio The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 0.94 on December 24, from 0.84 level in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market. 9)India VIX The India Volatility Index (VIX), a measure of market fear, continued its downward journey, falling 2.53 percent to 13.18 on Tuesday, its lowest level since December 13. This drop provided further comfort to bulls, allowing them to remain active in the market. 10)Long Build-up (52 Stocks) A long build-up was seen in 52 stocks. An increase in open interest (OI) and price indicates a build-up of long positions. 11)Long Unwinding (54 Stocks) 54 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding. 12)Short Build-up (62 Stocks) 62 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. 13)Short-Covering (58 Stocks) 58 stocks saw short-covering, meaning a decrease in OI, along with a price increase. 14)High Delivery Trades Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock. 15)Stocks Under F&O Ban Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit. Stocks added to F&O ban: Nil Stocks retained in F&O ban: RBL Bank Stocks removed from F&O ban: Bandhan Bank, Granules India, Hindustan Copper, Manappuram Finance Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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2024-12-25 17:03
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2024-12-25
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17:03
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moneycontrol.com
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https://www.moneycontrol.com/news/india/from-mission-divyastra-to-predator-drones-india-s-big-defence-advancements-in-2024-12897473.html
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From Mission Divyastra to Predator Drones: India's big defence advancements in 2024
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2024 was landmark year for India's defence sector as the country made major strides under its ambitious 'Atmanirbhar Bharat' initiative and bolstered its armed forces with big-ticket defence deals. The year started on a high as India joined a select group of countries following the success of "Mission Divyastra" in March. It later inked the long-awaited Predator drone deal with the US and saw the inauguration of the state-of-the-art Tata-Airbus C-295 facility in Vadodra — the country's first private military aircraft plant. The government's emphasis on the modernisation of India's defence sector was also reflected in UnionBudget 2024-25. The Centre allocated Rs 6.21 lakh crore to Ministry of Defence, marking a 4.79 per cent increase from FY24. The budget set aside Rs 1.72 lakh crore (26 per cent) for capital outlay to bolster the armed forces, 20.33 per cent higher than the actual expenditure of FY 2022-23 and 9.40 per cent more than the revised allocation of FY 2023-24. As the year draws to a close, here’s a look at the country’s key achievements in the defence sector: First test flight of Agni-5 MIRV missile On March 11, Prime Minister Narendra Modi announced that Defence Research and Development Organisation (DRDO) scientists successfully conducted the first flight test of indigenously developed Agni-5 missile under Mission Divyastra. The scientists tested Multiple Independently Targetable Re-entry Vehicle (MIRV) technology. With the test of Mission Divyastra, India joined the select group of nations who have MIRV capability. Agni-5 missile has a range of up to 5,000 km and it can bring almost the entire Asia including the northernmost part of China as well as some regions in Europe under its striking range. MIRV technology enables a single missile to carry and deliver multiple independent re-entry vehicles, allowing for the precise and targeted destruction of various objectives. India’s big-ticket Predator drone deal with US A significant defence partnership between India and the US was solidified with the signing of agreements worth around Rs 32,000 crore. This included the procurement of 31 Predator drones for the Indian armed forces and the establishment of a maintenance, repair, and overhaul (MRO) facility in India. Of the 31 drones, 15 will be for the Indian Navy and eight each for the Indian Army and Indian Air Force. The Navy version of the drone is called Sea Guardian while the IAF and Army version is known as Sky Guardian. The drones are expected to enhance the surveillance and intelligence capabilities of the Indian armed forces. Known as "hunter-killer" drones, the UAVs can fly up to an altitude of 40,000 feet and can stay airborne for nearly 40 hours. They can also carry up to four Hellfire missiles and around 450 kgs of bombs. The drones are expected to give India a significant edge over Pakistan and China along the western and northern frontiers. Inauguration of Tata-Airbus facility in India In October, Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez inaugurated the Tata Aircraft Complex for manufacturing C-295 aircraft in Vadodara. Tata Advanced Systems Ltd will produce 40 C-295 aircraft in Vadodara as part of the C-295 programme. Under the C-295 programme, 56 aircraft are to be delivered out of which 16 are being delivered directly by Airbus from Spain and remaining 40 are to be made in India by Tata Advanced Systems Ltd. In September 2021, Ministry of Defence had signed a Rs 21,935-crore contract with Airbus Defence and Space SA, Spain for supply of 56 aircraft - 16 to be brought in fly away condition from Spain and 40 to be built in India by TASL. The Airbus C-295 is a medium tactical transport aircraft that was designed and initially manufactured by the Spanish aerospace company CASA, which is now a part of the European multinational Airbus Defence and Space division. The C-295 can also be used for medical evacuations, disaster response, and maritime patrol duties. DAC clears projects worth Rs 21,772 crore In the first week of December, the Defence Acquisition Council (DAC), under the chairmanship Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for five capital acquisition proposals worth over Rs 21,772 crore. DAC granted AoN for the procurement of 31 New Water Jet Fast Attack Crafts (NWJFACs) for the Indian Navy. These are designed to perform the task of low intensity maritime operations, surveillance, patrol, and search and rescue (SAR) operations close to coast. In addition, these vessels will play an effective role in anti-piracy missions, especially in and around our island territories. The council also cleared procurement of 120 Fast Interceptor Craft (FIC-1). These vessels are capable to perform multiple roles, including escorting high value units such as aircraft carriers, destroyers, and frigates, submarines for coastal defence. AoN for procurement of Electronic Warfare Suite (EWS) comprising external airborne self protection jammer pods, next generation radar warning receiver and associated equipment for Su-30 MKI Aircraft was accorded by DAC. It also approved the procurement of six Advanced Light Helicopters (ALH-MR) for Indian Coast Guard to strengthen the coastal security and surveillance in the coastal areas. Army’s new elite tech unit To leverage the latest advancements in communication technology, the Army announced the establishment the Signals Technology Evaluation and Adaptation Group (STEAG). This specialised unit is dedicated towards conducting in-depth research and evaluation of emerging technologies such as AI, 5G, 6G, machine learning, and quantum technologies for their potential to enhance military capabilities. “STEAG will be the nursery for nurturing and developing tailored technologies spanning the complete spectrum of wired and wireless systems to include electronic exchanges, mobile communications, Software Defined Radios (SDR), Electronic Warfare (EW) systems, 5G and 6G networks, among others,” Indian Army officials said. “It will be a premier organisation, the first of its kind, equipped with the capability to harness niche technology, leverage cutting edge solutions and identify suitable use-cases for defence applications by fostering collaboration and partnership with academia and industry,” they added. Indian Army’s induction of indigenously manufactured ‘Asmi’ machine pistols In a significant advancement towards India's self-reliance initiative, the Indian Army inducted 550 indigenously manufactured 'Asmi' machine pistols into its Northern Command. The weapon has been made by the Indian Army in collaboration with the Defence Research and Development Organisation (DRDO). “The 'Asmi' machine pistol is a robust, compact and reliable weapon designed for close quarter battles and specialised operations. Its unique semi-bullpup design allows for single-handed operation both as a pistol and submachine gun,” Additional Directorate General of Public Information (ADGPI), Indian Army said on X. Lokesh Machines Limited was awarded the contract in April this year to supply 550 9×19mm Asmi machine pistols to the Army’s special forces in the Northern Command. 26 Rafale-M Jets, 3 Scorpene submarines deal in 2025 Next year, India is set to seal the proposed procurement of 26 naval variant of Rafale jets and three additional Scorpene submarines soon, Navy Chief Admiral Dinesh K Tripathi said. The Navy chief also said that 62 ships and a submarine are currently under construction within the country as part of efforts to boost its naval power. A large number of platforms are waiting for induction in the next one year and at least one ship will be inducted into the Navy, he said. "We have redoubled efforts to include niche technologies into the force," Admiral Tripathi was quoted as saying by PTI.
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2024-12-25 17:01
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2024-12-25
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17:01
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moneycontrol.com
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https://www.moneycontrol.com/technology/from-bookshelves-to-bots-encyclopedia-britannica-is-now-an-ai-company-article-12897237.html
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From bookshelves to bots: Encyclopedia Britannica is now an AI company
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Encyclopedia Britannica.
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If you were born in the 90s, you probably remember Encyclopaedia Britannica—those iconic knowledge-packed books that seemed to have answers to everything, long before Google or Wikipedia existed. Whether you were curious about ancient history or modern science, Britannica was the ultimate place to turn for trusted information. But even the best things have a shelf life. In 2012, Britannica stopped printing its famous volumes, marking the end of an era. Many thought that was the final chapter for the legendary encyclopedia.Turns out, it was just the start of a new one. Today, Encyclopaedia Britannica has transformed into an AI company How does Britannica AI work? Britannica AI works differently from regular internet searches. Instead of pulling random information from across the web, it answers your questions using Britannica’s carefully written and fact-checked articles. It even provides links to the sources, so you know where the answers come from. It’s not just about answering questions, though. Britannica AI keeps things safe by filtering out inappropriate topics and makes learning engaging by suggesting follow-up questions to deepen your understanding. Of course, no AI is perfect. Britannica knows this, and they encourage users to double-check important details, just like they did when flipping through those old books. Their goal isn’t to replace human learning but to inspire curiosity and make trustworthy knowledge more accessible.So, while the books may be gone, Britannica’s mission to spread reliable knowledge is very much alive—just in a form fit for the digital age. It’s proof that even a 250-year-old company can keep up with the times.
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2024-12-25 17:00
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2024-12-25
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17:00
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moneycontrol.com
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https://www.moneycontrol.com/news/india/pm-modi-lays-foundation-stone-of-ken-betwa-river-linking-project-recalls-ambedkar-s-contribution-12897467.html
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PM Modi lays foundation stone of Ken-Betwa river linking project, recalls Ambedkar's contribution
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Modi lays foundation stone of Ken-Betwa river linking project; hails Ambedkar's vision.Related stories.
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Prime Minister Narendra Modi on Wednesday accused the Congress party of overlooking Dr. BR Ambedkar's role in the development of India's water resources while laying the foundation stone for the Ken-Betwa river linking project in Madhya Pradesh. During the program in Khajuraho, Modi stated that only nations with sufficient and well-managed water resources will be able to progress in the 21st century. The Prime Minister's comments were made in the context of the controversy surrounding Union Home Minister Amit Shah's statements about Ambedkar, which led to nationwide protests by the Opposition Congress. Ambedkar's vision and farsightedness contributed significantly to the strengthening of the country's water resources, their management and dam construction, Modi said. Ambedkar played a crucial role in the development of major river valley projects and formation of the Central Water Commission, he added. Modi stated that the Congress party has consistently ignored the growing need for water conservation in the country and failed to acknowledge Ambedkar's contributions as a water conservationist. He emphasized that the key challenge of the 21st century is water security, and that only countries with sufficient and well-managed water resources will be able to progress. The PM on this occasion also inaugurated the Omkareshwar Floating Solar Project in Khandwa district of the state virtually, and laid the foundation stone of the Daudhan Irrigation Project, part of the river-linking project. Union Water Resources Minister C.R. Patil and Madhya Pradesh Chief Minister Mohan Yadav presented two urns, one containing water from the Betwa River and the other from the Ken River, to Prime Minister Modi. He then poured the water over a model of the project to officially launch the river linking work. Congress and governance do not go together, he said, adding that past Congress governments delayed projects for 35-40 years after laying their foundation stones. The Prime Minister highlighted that the Ken-Betwa river linking project would bring new opportunities for prosperity and happiness to the Bundelkhand region. The project is expected to cost Rs 44,605 crore and will provide drinking water to nearly 44 lakh people in ten districts of Madhya Pradesh and 21 lakh people in Uttar Pradesh. Officials stated that the project will benefit nearly 7.18 lakh agricultural families across 2,000 villages and will generate 103 MW of hydropower and 27 MW of solar energy. Modi also unveiled a commemorative stamp and coin in honor of the late former Prime Minister Atal Bihari Vajpayee, marking his birth centenary.The Vajpayee government had proposed river linking as a solution for the country's irrigation needs as well as for dealing with floods. PM Modi also performed `bhumi pujan' or ground-breaking ceremony for the construction of 1,153 Atal Gram Sewa Sadans costing Rs 437 crore at the Khajuraho program.
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2024-12-25 16:40
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2024-12-25
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16:40
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moneycontrol.com
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https://www.moneycontrol.com/news/india/after-36-year-ban-salman-rushdie-s-the-satanic-verses-returns-to-india-12897470.html
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After 36-year ban, Salman Rushdie's 'The Satanic Verses' returns to India
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In November, the Delhi High Court closed the proceedings on a petition challenging the Rajiv Gandhi government's ban on the import of the novel.
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Almost 37 years after being banned by the Indian government amid controversy, Salman Rushdie's The Satanic Verses has quietly resurfaced. The book, marked as ‘Limited Stock,’ is currently on display at Delhi's Bahrisons Booksellers. "@SalmanRushdie's The Satanic Verses is now in stock at Bahrisons Booksellers! This groundbreaking and provocative novel has captivated readers for decades with its imaginative storytelling and bold themes. It has also been at the centre of intense global controversy since its release, sparking debates on free expression, faith, and art," the bookseller said in a post on X. Manasi Subramaniam, Editor-in-Chief, Penguin Random House India, also posted on the social media platform, quoting Rushdie. “'Language is courage: the ability to conceive a thought, to speak it, and by doing so to make it true.' At long last. @SalmanRushdie's The Satanic Verses is allowed to be sold in India after a 36-year ban. Here it is at Bahrisons Bookstore in New Delhi," she wrote. In November, the Delhi High Court closed the proceedings on a petition challenging the Rajiv Gandhi government's ban on the import of the novel, saying since authorities have failed to produce the relevant notification, it has to be "presumed that it does not exist". The order came after government authorities failed to submit the notification dated October 5, 1988, which banned the import of the book. "In the light of the aforesaid circumstances, we have no other option except to presume that no such notification exists, and therefore, we cannot examine the validity thereof and dispose of the writ petition as infructuous," the court said. Shortly after its release, the book faced significant backlash, culminating in Iranian leader Ruhollah Khomeini issuing a fatwa urging Muslims to kill Salman Rushdie and his publishers. Rushdie subsequently spent nearly a decade in hiding in the UK and US. In 1991, Hitoshi Igarashi, who translated the novel into Japanese, was fatally attacked in his office. On August 12, 2022, Lebanese-American Hadi Matar stabbed Rushdie on stage at a lecture, leaving him blind in one eye.
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2024-12-25 16:03
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2024-12-25
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16:03
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moneycontrol.com
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https://www.moneycontrol.com/news/india/after-delays-karnataka-s-nandini-idli-dosa-batter-finally-launched-in-bengaluru-12897465.html
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After delays, Karnataka's Nandini Idli-dosa batter finally launched in Bengaluru
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The federation said that urban consumers, particularly those pressed for time due to work pressures, are increasingly seeking ready-to-cook meals.
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The Karnataka Milk Federation (KMF) has finally launched its much-awaited Nandini idli-dosa batter after delays.In a statement, KMF said that it has introduced its idli-dosa batter, which is enriched with whey protein and made available in Bengaluru. The product is being sold in two sizes, with a 450-gram pack priced at ₹40 and a 900-gram pack at ₹80. KMF added that based on market response, it plans to expand the availability of Nandini Idli-Dosa batter to other cities in the near future. "Nandini brand has earned a global reputation for quality, and it values the trust placed in it by customers in Karnataka and beyond. The federation acknowledged that changing lifestyles and food habits have created a demand for innovative products. To cater to this demand, KMF has been introducing new items to meet consumer preferences", it said. The federation said that urban consumers, particularly those pressed for time due to work pressures, are increasingly seeking ready-to-cook meals, it adds.
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2024-12-25 15:40
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2024-12-25
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15:40
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moneycontrol.com
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https://www.moneycontrol.com/news/india/j-k-72-hour-shutdown-in-katra-begins-against-ropeway-project-protesters-detained-12897460.html
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J-K: 72-hour shutdown in Katra begins against ropeway project; protesters detained
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J-K: 72-hour shutdown in Katra begins against ropeway project; protesters detained.Related stories.
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Several people were detained by police during a protest in Katra, the base camp of the Mata Vaishno Devi temple in Jammu and Kashmir, as demands to shelve the proposed ropeway project intensified with the town observing a 72-hour shutdown from Wednesday. The Shri Mata Vaishno Devi Sangarsh Samiti called for the bandh and said that all activities in Katra would remain suspended during the protest. Scores of people led by Samiti leaders Bhupinder Singh and Sohan Chand took out a protest march in the town, raising slogans against the Shrine Board and the administration, accusing them of adopting a stubborn attitude. However, when police personnel stopped the protesters from advancing, clashes broke out between the two sides. Several protesters, including Singh and Chand, were detained by the police and taken away in a police vehicle from the protest site, officials said. Singh alleged that the government was derailing the issue and forcing the people of Katra to come on the roads. "We are demanding the shelving of this project to save the jobs of thousands of people. Instead of holding talks with us, as promised by the administration, they are using police to detain us. This is unfortunate", he said. Former minister Jugal Kishore criticised the "use of force" against the protesters. "We strongly condemn the administration's move to use force against peaceful demonstrators. Their actions are aimed at disturbing the situation in Katra, which is unacceptable," Kishore told reporters. He accused the administration of avoiding dialogue. "Instead of holding discussions, they are aggravating the situation," he said. In response to the protest call, all business establishments remained closed, and traffic was off the roads in the holy town. "A 72-hour shutdown by pony owners, shopkeepers, and other local stakeholders began on Wednesday to protest the proposed ropeway project," a Samiti spokesperson said. The spokesperson added that the administration had initially scheduled a meeting for December 23 but postponed it to 3 PM today. "We met the Deputy Commissioner today, who requested more time to consult higher authorities. Therefore, we have decided to continue with the strike," he said. Last month, the Shri Mata Vaishno Devi Shrine Board announced plans to install the ropeway to facilitate access to the temple for senior citizens, children, and others who find it challenging to trek the 13-km-long path to the cave shrine. The proposed Rs 250-crore project aims to connect Tarakote Marg to Sanji Chhat, which leads to the shrine. Meanwhile, pilgrims expressed frustration over the shutdown, citing the closure of eateries and the suspension of local transport, which caused significant inconvenience. "We are facing a lot of difficulties. Where will pilgrims eat or rest during this three-day bandh? This is not the right way to protest," a pilgrim told reporters. "We humbly request those leading the protests to call off the strike, as thousands of pilgrims are facing hardships," he added.
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2024-12-25 15:33
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2024-12-25
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15:33
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moneycontrol.com
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https://www.moneycontrol.com/elections/assembly-election/delhi/amid-charges-counter-charges-congress-brings-out-12-point-white-paper-targeting-aap-bjp-article-12897457.html
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Amid charges & counter-charges, Delhi Congress brings out 12-point 'white paper' targeting AAP, BJP
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Congress' Ajay Maken.Related stories.
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As charges and counter-charges fly thick and fast ahead of the much anticipated Delhi Assembly elections, The Delhi Congress on Wednesday released a 12-point "white paper" targeting the Aam Aadmi Party and the BJP over their alleged unkept promises and mismanagement on various issues like pollution, civic facilities and law and order. The latest move by the Congress comes days after the Bharatiya Janata Party slammed the AAP dispensation over worsening air pollution, the water quality in Yamuna and deteriorating law and order in the national capital. Addressing a press conference, AICC treasurer Ajay Maken lashed out at AAP supremo Arvind Kejriwal, saying his party came to power riding on the Janlokpal agitation but has failed to set up the anti-corruption ombudsman. "If there is one word to describe former Delhi chief minister Arvind Kejriwal here then it would be Farziwal," he said while releasing the white paper titled "Mauka Mauka, Har Baar Dhoka". "If anyone is the king of fraud in the entire country then it is Kejriwal and that is why we have come here with a white paper on the Kejriwal government and also on the BJP government at the Centre," Maken added. However, unlike the previous occasion where the AAP was quick to respond to the charges made by the BJP, the party hasn't yet responded to Congress' 'White Paper'. AAP convenor Arvind Kejriwal hit back at the BJP's ‘Aarop Patra’, saying,"BJP has no agenda to contest elections. They should tell the people of Delhi what they have done for Delhi in 5 years." "If LG is not allowing you here, then make it in Punjab. Who is stopping you? You have a full-fledged government there, why don't you make it there? This is just an excuse. The party (AAP) was formed 10 years ago in the name of Janlokpal, now they have forgotten it, the senior Congress leader added.
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2024-12-25 15:29
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2024-12-25
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15:29
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moneycontrol.com
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https://www.moneycontrol.com/news/business/commodities/gold-gains-27-in-2024-to-beat-s-p-500-and-nifty-50-returns-forecasts-see-fresh-highs-ahead-12897456.html
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Gold gains 27% in 2024 to beat S&P 500 and Nifty 50 returns, forecasts see fresh highs ahead
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World Gold Council bets a rangebound year for the bullion. "...if the economy were to perform according to consensus in 2025, gold may continue to trade in a similar range to that seen in the last part of the year, with the potential for some upside.".Related stories.
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The year 2024 is closing out with gold shining bright, clocking nearly 27% returns for the year, higher than the Nifty 50 or S&P 500 index, as geopolitical turmoil propped up the safe haven appeal of bullion. This is been the strongest year for gold since 2010, and the outlook remains bullish for the precious metal. "A similar rally could occur in 2025, but this will largely hinge on geopolitical developments,"Reutersquoted Zain Vawda, market analyst at MarketPulse, projecting a base case for gold to be at $2800/oz. Going ahead, President-elect Donald Trump's inauguration, and the anticipated policy changes, have strengthened the US dollar, thus taking some sheen off the gold rally since November. The looming spectre of higher tariff on American imports could stoke inflationary expectations, as also reflected in the US Fed's commentary. Chair Jerome Powell had earlier in December hinted at fewer rate cuts in 2025 fearing high inflation. The total demand for bullion during the third quarter crossed $100 billion, for the first time ever. Three key factors have been at play in helping gold prices touch record highs this year. The escalating geopolitical risks in the middle-east between Israel and proxies of Iran, an ongoing war in Ukraine, and the fall of Bashar al-Assad's regime in Syria have all increased the demand for gold as a safe-haven asset. On top of it, central banks have been significant buyers of gold this year, keeping the prices higher. Though less than 2022-2023, the year will still see central banks as net buyers of bullion. Global central banks have been net buyers of bullion for almost 15 years, starting Q2CY09. Any tapering off in demand here could put pressure on prices in 2025. Rate cuts by the US Federal Reserve have made gold more attractive by reducing the opportunity cost of holding bullion. Investors looking to hedge against inflation too have turned to gold, driving up its price. Next year, the US Dollar, near two-year highs, will be a key factor for precious metals. Going forward, forecasts on the precious metals are extremely bullish, with UBS seeing gold reach $2,900/oz by end of 2025 while Citi, Goldman Sachs and JPMorgan are pegging a target of $30,00 by December 2025. The precious metal hit an all-time high price of $2,788.54 per ounce on October 30 this year. The year underscored gold's value as a store of wealth and a hedge against uncertainties, with the total market capitalization all the gold ever mined to be estimated at around $17.7 trillion. Going into 2025, chair Jerome Powell has said that the Fed's base case is two rate cuts in the year, with inflation softening but still above target. European central banks will also likely cut rates by a similar amount. World Gold Council bets a rangebound year for the bullion. "...if the economy were to perform according to consensus in 2025, gold may continue to trade in a similar range to that seen in the last part of the year, with the potential for some upside," saidWGC in its Outlook 2025 report. Key risks here would be higher interest rates and lower economic growth. "Overall, a more dovish Fed will be beneficial for gold, but a prolonged pause or policy reversal would likely put further pressure on investment demand," the report added. The precious metal may face competition from equities and real estate in Asia during 2025, with Chinese demand contingent to the growth rate. Demand for gold in India seems to be more stable going into 2025, as it is less likely to be impacted by a tariff war that President-elect Trump is threatening with. "Economic growth remains above 6.5%, and any tariff increase will affect it less than other US trading partners given a much smaller trade deficit. This, in turn, could support gold consumer demand," said WGC. It is also important to note that India’s trade deficit in November rose to $37.8 billion, an unprecedented figure, on the back of a four-fold rise in inbound shipments of gold.Moneycontrollearns that the Commerce Ministry islooking into this dataalong with the Central Board of Indirect Taxes and Customs (CBIC), and a formal clarification on the matter could be expected soon.
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2024-12-25 15:24
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2024-12-25
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15:24
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moneycontrol.com
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https://www.moneycontrol.com/news/india/aap-takes-the-ai-way-creates-santa-kejriwal-avatar-for-christmas-greetings-12897458.html
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AAP takes the AI way, creates 'Santa' Kejriwal avatar for Christmas greetings
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Santa Claus AI avatar of AAP chief Arvind Kejriwal. (Image: X/Screengrab).Related stories.
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The Aam Aadmi Party (AAP) on Wednesday used Artificial Intelligence (AI) to create a festive Santa Claus avatar of its national convenor Arvind Kejriwal for Christmas greetings. Taking to X, AAP posted a video of 'Santa Kejriwal' and wrote, "Delhi's own Santa delivering gifts year-round." Delhi's own Santa delivering gifts year-round#MerryChristmaspic.twitter.com/km2IOdAPoQAAP (@AamAadmiParty)December 25, 2024 The 36-second clip showed former CM Kejriwal dressed as Santa with the song playing in the background describing him as "jolly old Kejriwal". In the video, he can be seen handing over gifts, including a Rs 2,100 written gift to a woman, symbolising the Mahila Samman Yojana that the party has recently announced. Another scene shows him with children in front of a building named 'Delhi gov school', emphasizing AAP's work to improve government schools. The gifts, including the 'free electricity and free bus rides', in the video represent different welfare schemes launched by his party. The video also showcases the Sanjeevani Yojana, which provides free medical treatment for those above 60, announced ahead of the Delhi elections. The scheme, as announced by Kejriwal, will be implemented if the party comes to power once again. Also Read |AAP's Mahila Samman Yojana triggers row: Newspaper ads, war of words with BJP and more "Ho, ho, ho Santa Kejriwal is here, spreading joy to all far and near. Electricity is free all day and night, Santa Kejriwal's gifts are a delight," says the song playing in the background. Earlier in the day, a huge political row erupted after the Women and Child Development Department of the Delhi government issued a public notification saying that "any political party collecting information from applicants in the name of the ‘Mukhyamantri Mahila Samman Yojana’ is committing fraud and has no authority”. The two AAP flagship schemes – Mahila Samman Yojana and Sanjeevani Yojana – were announced in the run up to Delhi Assembly Elections 2025 scheduled early next year.
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2024-12-25 15:22
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2024-12-25
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15:22
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moneycontrol.com
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https://www.moneycontrol.com/news/india/structures-inside-mehrauli-archaeological-park-bear-religious-significance-asi-tells-supreme-court-12897454.html
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Structures inside Mehrauli Archaeological Park bear religious significance: ASI tells Supreme Court
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The ASI submitted that the tomb is close to the citadel of Prithviraj Chauhan and falls within the regulated zone of 200 metres according to the Ancient Monuments and Archaeological Sites and Remains Act..Related stories.
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The Archaeological Survey of India (ASI) has told the Supreme Court that two structures inside the Mehrauli Archaeological Park bear religious significance as Muslim devotees visit daily to the Ashiq Allah Dargah and Chillagah of Baba Farid, the revered 13th century Sufi saint. In a report submitted before the top court, the ASI said an inscription on the tomb of Shaikh Shahibuddin (Ashiq Allah) says it was constructed in the year 1317 AD. ”The structural modifications and alterations for the sake of restoration and conservation have impacted the historicity of the place,” ASI said. The ASI submitted that the tomb is close to the citadel of Prithviraj Chauhan and falls within the regulated zone of 200 metres according to the Ancient Monuments and Archaeological Sites and Remains Act. It said any repair, renovation or construction work is to be conducted with prior permission of competent authority. ”Both structures are frequently visited. Devotees light lamps at the Ashiq Dargah for fulfilment of wishes. ”They visit Chillagah to get rid of evil spirits and bad omen. The place is also associated with the religious sentiment and faith of a particular religious community,” the report said. The top court was hearing a plea by one Zameer Ahmed Jumlana, seeking protection for centuries-old religious structures inside the Mehrauli Archaeological Park in Delhi, including the 13th century Ashiq Allah Dargah (1317 AD) and Chillagah of Baba Farid. He said the Delhi Development Authority (DDA) has planned the demolition of structures in the name of removing encroachments without assessing their historicity. Jumlana has moved the top court against a February 8 Delhi High Court order which said Delhi Lieutenant Governor V K Saxena-led Religious Committee could consider the matter. Jumlana contended that the committee is not the appropriate forum to decide the antiquity of a structure.
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2024-12-25 15:10
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2024-12-25
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15:10
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moneycontrol.com
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https://www.moneycontrol.com/news/world/japan-s-foreign-minister-seeks-positive-direction-in-bilateral-ties-during-his-visit-to-china-12897446.html
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Japan's foreign minister seeks 'positive' direction in bilateral ties during his visit to China
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Japan's foreign minister seeks 'positive' direction in bilateral ties during his visit to China.Related stories.
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Japanese Foreign Minister Takeshi Iwaya met with top Chinese leaders Wednesday during his visit to Beijing, the first since the heads of the two countries met at a summit in Peru last month, in an effort to make positive inroads in the bilateral relationship. The two neighbours have had a tense relationship in recent years. At the top of Iwaya's agenda is China's ban on Japanese seafood in response to the release of treated radioactive wastewater into the sea from the Fukushima Daiichi nuclear power plant, as well as China's increasingly assertive military activity in the East and South China Seas. Iwaya met with China's premier Li Qiang Wednesday as well as Wang Yi, his Chinese counterpart. "Currently the China-Japan relations are at a critical period of improvement and development,” said Li, in his remarks. “China is willing to work together with Japan to move towards the important direction proposed by the leaders of the two countries.” "I want to build a relationship where the people of both countries feel that Japan-China relations have developed and progressed in a positive direction," said Iwaya, ahead of his meeting with Wang. His trip comes just before US President-elect Donald Trump is to take office in January. Tokyo considers the Japan-US alliance the lynchpin of its diplomatic and security policies, a tone emphasised in the past four years under US President Joe Biden's direction, but it's unclear how Trump will impact the alliance. Japan has revamped its approach to defense in response to Chinese actions in recent years, boosting military spending and shifting away from a principle of self-defense. Earlier this year, Japan protested when a Chinese military plane flew into Japan's airspace, while in the summer, a Chinese survey ship sailed into Japanese territorial waters. While how US-China relations come out under the Trump administration is unclear, Japan is seeking stability in its relationship with its neighbour and hopes to develop ties in areas of mutual interest, including the economy and the elderly care industry. Iwaya told reporters before his departure Tuesday that he will also hold bilateral high-level people and cultural exchange talks, joined by the education ministers from the two sides. “The relationship with China, our neighbouring country, is one of Japan's most important,” Iwaya told reporters Tuesday. Though there are many issues and concerns, Japan and China share a variety of possibilities, he said. “The two countries share important responsibilities for the peace and prosperity of the region and the international society.” Iwaya, a security expert, is also expected to reiterate his concern about Japanese nationals detained in alleged spying allegations. Japan maintains that the water discharged from the Fukushima plant is treated and diluted to levels much safer than international standards and adequately monitored, but China calls the water contaminated. Japan and China agreed in September to work toward easing the seafood ban by allowing China in multinational sampling missions under the framework of the International Atomic Energy Agency (IAEA). Chinese experts joined an IAEA monitoring mission to Fukushima in October, when China took water samples from the sea just off the coast of the Fukushima plant, as well as the water discharge system on the plant, for analysis. However, no breakthrough is expected during Iwaya's visit.
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2024-12-25 15:03
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2024-12-25
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15:03
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moneycontrol.com
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https://www.moneycontrol.com/technology/redmi-a4-receives-huge-discount-on-amazon-now-at-its-lowest-price-ever-article-12897245.html
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Redmi A4 receives huge discount on Amazon, now at its lowest price ever
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Redmi A4 5G-2.
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Are you looking for a good phone under Rs 10,000? Here’s some great news for you! The Redmi A4, a highly rated budget smartphone, is now available at its lowest price ever on Amazon. Originally priced at Rs 8,999, the 4GB+64GB variant is now selling for just Rs 8,498, while the 4GB+128GB variant has dropped from Rs 9,999 to Rs 9,498. That’s a significant discount, making it one of the best deals in the sub-Rs 10,000 category. Redmi A4 5G: Specifications So, what makes the Redmi A4 a standout choice? Let’s dive into its features. The phone is powered by the Snapdragon 4s Gen 2 5G processor, ensuring smooth performance for all your day-to-day tasks and even some gaming. It boasts a large 17.47 cm display with a 120Hz refresh rate, 600 nits of peak brightness, and TUV-certified eye care protection—perfect for binge-watching your favorite shows or scrolling through social media. Photography enthusiasts will appreciate its 50MP dual rear camera setup and a 5MP front camera for selfies. With a massive 5160mAh battery and support for 18W fast charging (a 33W charger is included in the box), you won’t have to worry about running out of juice during the day. Other handy features include expandable storage up to 1TB, a 3.5mm headphone jack, and a side fingerprint sensor for added security. The Redmi A4 runs on Android 14 and supports 4G+ and 5G SA networks, though it’s worth noting that it doesn’t support 5G NSA. Make sure to check with your network provider about standalone 5G availability in your area. If you’ve been eyeing a budget-friendly smartphone with impressive specs, this Amazon deal is too good to miss. Grab it before the offer ends!
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2024-12-25 15:00
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2024-12-25
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15:00
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moneycontrol.com
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https://www.moneycontrol.com/news/india/superstition-in-politics-the-dark-room-of-maharashtra-s-mantralaya-dreaded-by-ministers-12897420.html
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Superstition in politics: The 'dark room' of Maharashtra's mantralaya dreaded by ministers
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In the current government, the room has been allocated to BJP minister Shivendra Raje Bhosle’s Public Works Department..
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Indian politics is not devoid of superstitions. For a long time, there was a prevalent belief that a politician lacking the letter "R" in their name could never become India's Prime Minister. This superstition was broken in 2004 when Manmohan Singh became the PM. Similarly, until 2017, it was believed that any Chief Minister of Uttar Pradesh who visited Noida would lose their position.Yogi Adityanathdisproved this when he retained his chair despite visiting Noida. In Maharashtra, another superstition suggested that no Chief Minister could complete a five-year tenure. However, in 2014, Devendra Fadnavis became the Chief Minister and successfully served a full term until 2019. Yet, another superstition in Maharashtra remains to be challenged. Room No. 602 of Maharashtra's Mantralaya is considered jinxed by the state’s politicians. Despite being one of the most spacious rooms in the state secretariat, ministers are hesitant to occupy it. The room is infamous for its history of misfortune, with occupants often facing trouble and resigning from their positions. Over the past two and a half decades, every minister who occupied this room is believed to have encountered bad luck. In 1999, Room 602 was allocated to Chhagan Bhujbal, then Deputy Chief Minister and Home Minister. In 2003, he became embroiled in the multi-crore fake stamp paper scam known as the Telgi Scam. Ajit Pawar, the next occupant, also had to resign after being accused in the irrigation scam. When the BJP came to power in 2014, the room was allotted to Eknath Khadse, a minister in Fadnavis's cabinet. He, too, resigned after being implicated in a land scam. After Khadse, the room was given to Pandurang Fundkar, another BJP minister, who passed away suddenly in 2018 due to a cardiac arrest. The room was then allotted to BJP minister Anil Bonde, who lost the elections in 2019. In the current government, the room has been allocated to BJP minister Shivendra Raje Bhosle’s Public Works Department. The dark reputation of Room 602 has caused concern among Raje’s supporters. For now, the room is being used by PWD officials, while Raje is likely to occupy an adjacent room.
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2024-12-25 14:56
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2024-12-25
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14:56
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moneycontrol.com
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https://www.moneycontrol.com/news/india/boy-stripped-urinated-on-at-classmate-s-birthday-party-dies-by-suicide-in-up-12897436.html
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Boy stripped, urinated on at classmate's birthday party, dies by suicide in UP
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A Class 10 boy allegedly died by suicide after he was humiliated at a birthday party. (Representational image).Related stories.
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A Class 10 student allegedly died by suicide after he was humiliated, including being stripped and urinated upon, by a group of teenagers at a birthday party in Uttar Pradesh's Basti. The boy was lured to attend the birthday party of a female friend by his classmates, where he was subjected to physical abuse and humiliation, according to a Times of India (TOI) report. During the party, he was stripped, beaten and urinated upon by several individuals who also allegedly recorded the act on their phones. They also threatened to make the video viral. According to the victim's family, the boy pleaded with the alleged accused to delete the video, but they humiliated him further, forcing him to lick his spit, India Today reported. After the party, the 17-year-old boy reached home, narrated his ordeal to the family and later hanged himself at his home on Monday night. When the boy informed his family, they immediately approached the Kaptainganj olice station, however, SHO Deepak Dubey did not take the matter seriously. Devastated by inaction, the boy took the extreme step, according to TOI. The grieving family took the body to a nearby police station and approached the Basti SP on Tuesday, demanding immediate action. The SHO was subsequently suspended and a case has been registered against four of his classmates under Section 108 of Bharatiya Nyaya Sanhita (BNS) (abetment to suicide), 115 (2) (voluntarily causing hurt), 351 (3) (threats of death or grievous harm).
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2024-12-25 14:39
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2024-12-25
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14:39
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moneycontrol.com
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https://www.moneycontrol.com/news/india/amit-shahs-comments-were-distorted-to-mislead-people-devendra-fadnavis-demands-apology-from-congress-12897425.html
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'Amit Shah's comments were distorted to mislead people': Devendra Fadnavis demands apology from Congress
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Devendra Fadnavis.Related stories.
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As war of words continue between the Bharatiya Janata Party and the Congress over Union Home Minister Amit Shah's 'Ambedkar' remarks, Maharashtra chief minister Devendra Fadnavis on Wednesday demanded that Congress should tender an apology to the nation for insulting BR Ambedkar repeatedly. Fadnavis' comments are in continuation of a massive coordinated counter attack against Congress. Several BJP, over the past one week, accused the grand old party of orchestrating drama and shedding crocodile tears on Ambedkar. "Congress should apologise to the nation for always insulting Ambedkar. Its anxiety was that no one should grow in stature above the Nehru-Gandhi family. Congress distorted Amit Shah's comments on Ambedkar to mislead the people. BJP and Shah can not insult Ambedkar even in their dreams," said Fadnavis. Giving an example form his recent address in Maharashtra Assembly, Fadnavis said: "Even my own speech in the Maharashtra assembly where I said that Naxalites do not believe in the country 's Constitution was distorted in such a way that it appeared I did not believe in the Constitution." "We now have the technology to get the entire digital footprint for identifying those who are circulating such messages," said Fadnavis who also holds the home portfolio. Ever since the showdown between the treasury benches and the Opposition in Parliament, BJP ruled state CMs includingYogi Adityanath, Devendra Fadnavis, Pushkar Singh Dhami, Bhajanlal Sharma, Bhupendra Patel and Mohan Charan Majhi addressed separate press conferences in their respective state headquarters and attacked Congress. As the Congress has been mounting pressure on the saffron party to apologize over Union Home Minister Amit Shah's remark on Ambedkar, the Chief Ministers slammed the Congress for 'wasting' the Winter Session of Parliament. The saffron party also demanded Congress's apology for twisting Amit Shah's remark and sharing an 'edited' clip of the same.
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2024-12-25 14:08
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2024-12-25
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14:08
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ola-electric-expands-network-to-4-000-stores-pan-india-12897426.html
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Ola Electric expands network to 4,000 stores pan-India
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Citigroup initiated a 'buy' call on Ola, with a price target of Rs 90.
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Ola Electric on Wednesday said it has expanded its network to 4,000 stores nationwide, a four-fold increase from its existing network. The company has opened over 3,200 new stores co-located with service facilities. The expansion spans beyond metros and Tier I and II cities into smaller towns and tehsils, Ola Electric said in a statement. ”With our newly opened stores co-located with service centres, we have completely redefined EV purchase and ownership experience, setting new benchmarks with our #SavingsWalaScooter campaign,” Ola Electric Chairman & Managing Director Bhavish Aggarwal said.
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2024-12-25 14:07
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2024-12-25
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14:07
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moneycontrol.com
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https://www.moneycontrol.com/news/world/shocking-video-captures-passenger-plane-crash-in-kazakhstan-watch-12897413.html
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Shocking video captures passenger plane crash in Kazakhstan | Watch
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According to the Azerbaijani APA news agency, the plane had 62 passengers and five crew members aboard. (Image: X).
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A passenger plane operated by Azerbaijan Airlines en route from Baku to Groznycrashednear the Kazakhstan city of Aktau, carrying nearly 70 people on board. Dramatic visuals circulating on social media captured the moments following the crash, revealing the scale of the incident.Another video showing the crash of Azerbaijan Airlines Flight 8243pic.twitter.com/Ze5pQ7Grv9BNO News Live (@BNODesk)December 25, 2024 As per initial reports, the crash was caused by a collision with a flock of birds, leading to the Embraer 190 aircraft making an emergency landing approximately three kilometers from Aktau, an oil and gas hub located on the Caspian Sea's eastern shore. BREAKING: Azerbaijan Airlines flight traveling from Baku to Grozny crashes in Aktau, Kazakhstan, after reportedly requesting an emergency landingpic.twitter.com/hB5toqEFe2RT (@RT_com)December 25, 2024 According to the AzerbaijaniAPAnews agency, the plane had 62 passengers and five crew members aboard. Preliminary information suggests that survivors have been found, though the exact number of casualties remains unclear. Kazakhstan's Emergency Situations Ministry stated that rescue teams were working to extinguish a fire at the crash site. Azerbaijan Airlines, the country's flag carrier, confirmed the incident and noted that investigations are underway to assess the damage and determine the precise cause of the crash. While social media speculations about engine failure surfaced, official reports attribute the accident to the bird strike.
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2024-12-25 14:05
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2024-12-25
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14:05
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moneycontrol.com
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https://www.moneycontrol.com/news/business/cement-industry-looks-for-better-growth-in-2025-12897427.html
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Cement industry looks for better growth in 2025
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In the first half of FY25, cement prices declined by 10 per cent YoY to Rs 330 per bag. A year before, the average prices stood at Rs 365 per bag in FY24 and Rs 375 per bag in FY23, according to an ICRA report..Related stories.
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The Indian cement industry, witnessing a consolidation and heightened rivalry between two corporate houses snapping smaller players, pins its hope on 2025 for an improvement in sales realisation, higher margins, and acceleration in demand, expecting around 8 per cent sales growth helped by increased government spending on big-ticket infra projects. Over 50 MTPA (million tonnes per annum) capacity are being acquired for USD 4.5 billion by two leading players – Aditya Birla group firm UltraTech Cement and billionaire Gautam Adani-led Ambuja Cements – besides organic expansion of the existing units as they have kept their war chest ready, prowling for opportunities. The industry faced challenges on numerous fronts in 2024, right from moderate capacity utilisation to lower sales realisation, which impacted the topline of several makers, contraction of margins, and slower volume growth. However, 2024 would also be known for big-ticket acquisitions by UltraTech and Adani Cement to consolidate their positions and achieve their targeted growth ahead of time. Adani Cements, a lateral entrant in the sector, completed the acquisition of Saurashtra-based Sanghi Industries, Penna Industries, and recently announced plans to acquire CK Birla group firm Orient Cement as part of its inorganic growth strategy. Besides, it has also snapped up small players' facilities, as My Home and its subsidiary ACC have also acquired Asian Concretes and Cements. These acquisitions and expansions helped Adani Cement to cross a 100 MTPA capacity with a pan-India presence in 2024 within two years of entering the sector, with 70 MTPA acquired capacity from Swiss firm Holcim. The Adani group has plans in the works to raise this to 140 MTPA by FY28, just a shade below market leader UltraTech’s current capacity of 156.66 MTPA grey cement. Aditya Birla group is also firing on all cylinders to maintain its lead and has plans for 200 MTPA capacity by FY27. In 2024, it announced the acquisition of South-based India Cements Ltd and is in the process of acquiring Kesoram Industries’ Cement Business. According to Deloitte India Partner Rakesh Surana, 2024 was a year of consolidation for the cement industry, marked by significant mergers and acquisitions. "This trend has highlighted a structural shift in the sector, with the largest companies accounting for a substantial share of the overall capacity. Currently, the top five cement producers collectively command an estimated 60-65 per cent of the industry’s capacity," he said. EY-Parthenon Partner – energy practice Vinayak Vipul said the Indian cement industry has witnessed muted volume growth of 4 to 5 per cent in FY25, compared to over 10 per cent in the past three years, driven by the impact of elections and an extended monsoon across the country. "With utilisation levels below 70 per cent, net price realisations dropped by up to 10 per cent year-on-year (YoY) in H1, resulting in an overall decline in revenues and a 200-bps reduction in profitability," he said. The industry is adding 35 MTPA capacity in anticipation of increased government spending on housing and infrastructure, with consistent growth of 7-8 per cent expected in the short to medium term, Vipul added. According to industry body Cement Manufacturers’ Association (CMA) data, India has installed a cement capacity of 690 Metric Tonnes (MT). Shree Cement Managing Director Neeraj Akhoury said the Indian cement industry is also on the cusp of a significant transformation, driven by strong demand expected from the infrastructure and housing sectors, coupled with an increasing focus on sustainability and innovations. "We are confident that improving price realisations and better capacity utilization will drive the industry’s recovery and growth. Additionally, the increase in capital expenditure, both from the government and private players, will provide the necessary impetus to India’s growth story," said Akhoury, who is also president of CMA. In 2024, growth for cement decelerated to 4.5-5.5 per cent in 2024 on a high base, following three consecutive years of strong growth, as construction activity slowed in the second and third quarters due to a prolonged heatwave, labour shortages during the general elections period, and seasonal weakness during the monsoon, said CRISIL Market Intelligence and Analytics Director-Research Sehul Bhatt. "As a result of the slowdown in demand and continued capacity additions, prices declined by 7 per cent," he said. The all-India average cement price was around Rs 348 per 50-kg bag in June 2024. It further decreased by 11 per cent YoY to Rs 330 per bag in September, though it increased by 2 per cent on a month-on-month basis. In the first half of FY25, cement prices declined by 10 per cent YoY to Rs 330 per bag. A year before, the average prices stood at Rs 365 per bag in FY24 and Rs 375 per bag in FY23, according to an ICRA report. "The cement volumes are expected to pick up in H2FY2025 backed by a likely increase in rural consumption aided by improved farm cash flows, sustained healthy demand for urban housing, and expected increase in government spending on infrastructure projects," said ICRA AVP & Sector Head – Corporate Ratings Tushar Bharambe. Consequently, ICRA anticipates the all-India cement volumes to grow by 4-5 per cent YoY to 445-450 million MT in the full year FY2025, he added. "In the FY2025-FY2026 period, the cement industry is estimated to add around 70-75 MT grinding capacity. Due to this, the capacity utilization is estimated to remain moderate at 70 per cent in the FY2025-FY2026 period despite healthy expected growth in demand," Bharambe said.
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2024-12-25 14:02
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2024-12-25
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14:02
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moneycontrol.com
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https://www.moneycontrol.com/news/india/india-s-gdp-growth-seen-at-6-5-pc-in-fy25-fy26-ey-report-12897418.html
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India's GDP growth seen at 6.5 pc in FY25, FY26: EY report
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The report also suggests that both the central and state governments should aim for a fiscal deficit target of 3 per cent of GDP each..Related stories.
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India’s economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to a fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September — the second quarter of the current 2024-25 fiscal year. This was compared to 6.7 per cent in the preceding quarter. This was primarily because two domestic demand components — private final consumption expenditure and gross fixed capital formation — together accounted for a fall of 1.5 percentage points. “One outstanding feature of demand is the slowdown in investment, as reflected in the growth of gross fixed capital formation. This growth is estimated at 5.4 per cent in 2QFY25, which is a six-quarter low. Apart from the fact that private investment demand has not picked up, there was a contraction in Government of India’s investment expenditure growth, which has remained negative at (-)15.4 per cent in the first half of FY25,” the report said. It continued to be negative even in October 2024 at (-)8.4 per cent, implying that in the first seven months, government’s investment expenditure growth has remained negative at (-)14.7 per cent. “In fact, to meet thebudgeted target of Government of India’s capital expenditure growth of 17.1 per cent over CGA actuals for FY24, we now require a growth of 60.5 per cent in the remaining five months of the fiscal year FY25.” The EY Economy Watch December 2024 forecasts India’s real GDP growth at 6.5 per cent for FY25 (April 2024 to March 2025 fiscal year) and FY26. It also highlights the importance of reforming India’s fiscal responsibility framework to achieve the Viksit Bharat vision by 2047-48. A recalibrated approach is vital for sustainable debt management, eliminating government dissavings, and driving investment-led growth, paving the way for India’s transformation into a developed economy, it said. “With global conditions remaining uncertain and global trade likely to be fragmented, India may have to continue to rely largely on domestic demand and services exports. In the medium-term, India’s real GDP growth prospects can be kept at 6.5 per cent per year provided the Government of India (GoI) accelerates its capital expenditure growth in the remaining part of the current fiscal year and comes up with a medium-term investment pipeline with participation from the GoI and state governments and both their respective public sector entities, and the private corporate sector,” it said. It would be appropriate to recast the earlier 2019 National Infrastructure Pipeline (NIP) for a period extending up to 2030 with revised targets for the priority sectors including roads, smart cities, railways, power, and renewable energy. “Investment targets for all the three major investors namely GoI and state governments and their respective public sector undertakings, and private corporate sector should be recast after evaluating their performance in financing the earlier NIP,” it said, adding, together, the GoI and the state governments should ensure a minimum capital expenditure allocated towards infrastructure growth of 6 per cent of GDP each year over a five-year period. This implies driving their revenue deficits to near zero. The latest edition of EY Economy Watch suggests that the total debt of the central and state governments combined should not exceed 60 per cent of the country’s nominal GDP, with each taking an equal share of 30 per cent. It also emphasizes the need for both levels of government to balance their current/operating income and spending, which would boost national savings. This would lead to a savings rate of about 36.5 per cent of GDP in real terms. Adding another 2 per cent of GDP from foreign investments would bring the total real investment level to 38.5 per cent, helping India achieve steady economic growth of 7 per cent per year. D K Srivastava, Chief Policy Advisor, EY India, said, “The proposed revisions to the Fiscal Responsibility and Budget Management (FRBM) Act are essential for enabling India to pursue sustainable growth while maintaining fiscal prudence. The updated framework would help eliminate government dissaving, increase investment, and create a more resilient economy that is well-equipped to meet the challenges of the future. The changes will not only address current challenges but also pave the way for India’s transition to a developed economy, achieving its Viksit Bharat aspirations.” Economy Watch suggests that a major reform is required in the FRBM Act to ensure fiscal responsibility while supporting India’s ambitious growth goals. One of the recommendations is to reinstate the revenue account balance as a key target for both the central and state governments. This would eliminate government dissavings, which are currently a drain on resources, and create space for productive investments that are vital for economic growth. The report also suggests that both the central and state governments should aim for a fiscal deficit target of 3 per cent of GDP each. However, to handle unexpected challenges like economic slowdowns, the central government should have some flexibility, allowing the deficit to range between 1 per cent and 5 per cent of GDP. In case the crisis is much bigger, such as the Covid crisis, suitable variation in GoI’s and states’ fiscal deficit beyond the above range may be considered by an appropriate body such as a fiscal council. This approach balances fiscal discipline with the ability to address extraordinary situations. Another key recommendation is to eliminate revenue deficits entirely. This would free up funds for productive investments, with combined government investments expected to reach 6 per cent of GDP by FY2048. “Overall, investments in the economy, including contributions from households, businesses, and the public sector, are expected to grow to 38.5 per cent of GDP in real terms, driving sustained growth and development,” the report added.
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2024-12-25 13:53
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2024-12-25
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13:53
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moneycontrol.com
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https://www.moneycontrol.com/news/india/earthquake-of-3-5-magnitude-strikes-haryana-s-sonipat-12897386.html
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Earthquake of 3.5 magnitude strikes Haryana's Sonipat
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A view from behind a window as debris falls from a building, during an earthquake off the eastern coast of Taiwan, in New Taipei City-Representative Photo.
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A 3.5 magnitude earthquake struck Haryana's Sonipat on Wednesday, according to the National Center for Seismology (NCS). The NCS posted that the earthquake was reported at 5km depth at 12.28pm.EQ of M: 3.5, On: 25/12/2024 12:28:31 IST, Lat: 28.83 N, Long: 76.96 E, Depth: 5 Km, Location: Sonipat, Haryana.For more information Download the BhooKamp Apphttps://t.co/5gCOtjdtw0@DrJitendraSingh@OfficeOfDrJS@Ravi_MoES@[email protected]/15m1wof6k9National Center for Seismology (@NCS_Earthquake)December 25, 2024 The NCS posted that the earthquake was reported at 5km depth at 12.28pm. However, there were no reports of any casualties yet. (More details to come)
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2024-12-25 13:36
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2024-12-25
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13:36
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moneycontrol.com
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https://www.moneycontrol.com/news/world/passenger-plane-with-110-onboard-crashes-near-kazakhstan-s-aktau-report-12897409.html
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Passenger plane with 110 onboard crashes near Kazakhstan's Aktau: Report
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(Representative Image).
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A passenger plane crashed near Aktau city in Kazakhstan on Wednesday, with initial reports from the Emergencies Ministry indicating there were survivors,Reutersreported. The ministry reported that emergency services were working to extinguish a fire at the crash site. Russian news agencies said the plane was operated by Azerbaijan Airlines and had been flying from Baku to Grozny in Russia's Chechnya, but had been rerouted due to fog in Grozny. There was no immediate comment from Azerbaijan Airlines. Kazakh media reported that the aircraft was carrying 105 passengers along with five crew members. Videos circulating on social media depicted the plane descending at a low altitude before crashing and catching fire. Azerbaijan Airlines stated that the Embraer 190 aircraft, operating as flight J2-8243, was en route from Baku to Grozny, the capital of Russia's Chechnya, when it was forced to make an emergency landing about 3 km (1.8 miles) from the Kazakh city of Aktau. “Additional information regarding the incident will be provided to the public,” the airline said. (This is a developing story. More to be added...)
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2024-12-25 13:35
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2024-12-25
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13:35
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moneycontrol.com
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https://www.moneycontrol.com/news/india/atal-bihari-vajpayee-the-statesman-who-conceptualized-a-separate-ministry-for-northeast-12897403.html
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Atal Bihari Vajpayee: The statesman who conceptualized a separate Ministry for Northeast
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Atal Bihari Vajpayee.Related stories.
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As the nation partakes in the centenary birthday celebrations of former Prime Minister Atal Bihari Vajpayee,one cannot but recall his unparalleled commitment to work for the interest of the northeastern region. Vajpayee, was perhaps the first Prime Minister who realised the significance of the northeastern region and took several initiatives for the progress of the region, beginning with setting up a separate Ministry to ensure equitable development of the region. A separate ministry for Northeast From conceiving the idea of a separate ministry for this purpose and initially set up a department for the development of the northeastern region, initiatives under Vajpayee extended to setting up a non-lapsable pool of funds for the NER. Additionally, Sikkim was included as a member of North Eastern Council, and Prime Minister’s Gram Sarak Yojna was expanded to benefit the region. The DONEAR ministry, which deals with matters related to planning, execution and monitoring of development schemes and projects in the region, was established by Atal Bihari Vajpayee. The then NDA government had announced plans to accelerate the pace of development in the region. The Ministry for the Development of North Eastern Region (DoNEAR) was constituted in 2001 and converted into a full-fledged ministry in 2004. Centre's ever-growing push In February this year, speaking on the sidelines of North East Investors Summit in Kolkata, the then Union minister B L Verma on said the central government has invested Rs 5 lakh crore in the North East since 2014, while Rs 11 lakh crore more will be pumped into the region for its all-round development. Highlighting the development of the region since 2014, Verma said, "We have seen massive infrastructural growth, with Rs 1 lakh crore currently being invested in road projects alone. The number of airports has jumped from 9 to 17, significantly improving accessibility." Underlining the focus on rail connectivity, the minister emphasized the significance of the newly inaugurated route between Akhaura in Bangladesh and Agartala in Tripura. Echoing similar sentiments, Jyotiraditya Scindia, the current DoNER minister, said his role would primarily be that of a facilitator, ensuring that aspirations of the states in the region are realised. He emphasised the importance of showcasing the North Eastern region's rich cultural heritage, traditions, and natural resources to the world. Increasedbudgetary outlay Underlining the Centre's commitment towards the region, Scindia said the budgetary outlay for the region has increased from Rs 24,000 crore to almost Rs 84,000 crore in the last decade, highlighting developments in infrastructure such as roads, railways, and airports, which have expanded from nine to seventeen.
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2024-12-25 13:01
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2024-12-25
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13:01
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moneycontrol.com
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https://www.moneycontrol.com/news/india/atal-bihari-vajpayee-centenary-celebration-top-quotes-by-wordsmith-statesman-that-continue-to-inspire-12897388.html
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Atal Bihari Vajpayee centenary celebration: Top quotes by wordsmith statesman that continue to inspire
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Atal Bihari Vajpayee.Related stories.
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Encapsulating the essence of Atal Bihari Vajpayee, a towering statesman and poet, is no small task. As his birth centenary falls on December 25, 2024, his contributions to Indian politics, literature, and public life resonate more strongly than ever. A BJP stalwart and three-time Prime Minister, Vajpayee's legacy continues to inspire, with his words and vision shaping modern India. A testament to his foresight can be gauged during the BJP's inaugural convention at Shivaji Park, Mumbai, in December of 1984. With his characteristic flourish, he declared, “Andhera chhatega, suraj niklega, kamal khilega”. His words have aged well, with the BJP’s uninterrupted dominance at the Centre. Vajpayee was more than a politician; he was a poet whose words stirred hearts and minds. His speeches, often infused with poetry, were a masterclass in oratory. Known as a "magician with words," Vajpayee used his expansive vocabulary and subtle rhetoric to captivate audiences, whether in Parliament or public rallies. His iconic poem ‘Mastak Nahin Jhukega’ was a powerful assertion of India’s resolve against external pressures, particularly Pakistan’s stance on Kashmir. Vajpayee’s politics was rooted in soft power, relying on ideas and emotions to persuade rather than provoke. Even his sharpest critiques were laced with dignity and wit. His unwavering faith in democracy and love for India were central to his vision of a stronger nation. Vajpayee passed away on August 16, 2018, but his legacy endures. As India celebrates his centenary, his words remind us of the power of leadership that inspires through intellect, compassion, and unwavering integrity. Here are 10 quotes by Vajpayee that reflects his vision and philosophy for the nation: "Gun can solve no problem; brotherhood can." - Vajpayee emphasised this while addressing the Jammu and Kashmir issue in Parliament on April 23, 2003, advocating for solutions rooted in Insaaniyat, Jamhooriyat and Kashmiriyat. "The Pokhran-2 nuclear tests were conducted neither for self-glorification, nor for any display of machismo." - Speaking in Parliament after the 1998 tests, he highlighted India’s policy of minimum credible deterrence as a responsible nuclear power. "One cannot wish away the fact that before good neighbours can truly fraternise with each other, they must first mend their fences." - He said this at Peking University on June 23, 2003. Vajpayee shed light on the importance of resolving disputes for lasting regional ties. "History can remind us, guide us, teach us or warn us; it should not shackle us." - At the 12th SAARC Summit in 2004, Vajpayee called for a collective approach in South Asia, urging nations to rise above mutual suspicions. "We in India are inheritors to a great civilisation whose life chant has been 'Shanti' and 'Bhaichara'." - At the Global Convention on Peace and Non-violence in 2004, he reaffirmed India’s commitment to fostering global peace and cooperation. "Poverty is multidimensional. It extends beyond money incomes to education, health care and political participation." - This holistic perspective on poverty was shared by the late PM at the UN General Assembly in 2003. "My poet's heart gives me strength to face political problems, particularly those which have a bearing on my conscience." "Victory and defeat are a part of life, which are to be viewed with equanimity." "Empowering the individual means empowering the nation." "Our words, actions, and diplomatic efforts should be aimed at trying to achieve pragmatic goals rather than creating rhetorical effect."
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2024-12-25 12:40
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2024-12-25
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12:40
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moneycontrol.com
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https://www.moneycontrol.com/news/india/no-achievements-in-past-decade-arvind-kejriwal-slams-bjp-for-using-smear-campaigns-12897385.html
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Arvind Kejriwal slams BJP for 'smear' campaigns; Atishi hails AAP's welfare schemes
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Arvind Kejriwal.
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Former Delhi Chief Minister and AAP National Convenor, Arvind Kejriwal, on Wednesday, accused central agencies, including the CBI, ED, and Income Tax Department, of being instructed to fabricate charges against Delhi Chief Minister Atishi. “Sources have informed me that a recent meeting took place where these agencies were directed to arrest CM Atishi by concocting false cases,” Kejriwal alleged. Kejriwal further slammed the BJP, accusing the party of running a smear campaign against AAP leaders rather than focusing on development work in Delhi. "The BJP has no achievements to showcase in Delhi in the last ten years. Their entire campaign revolves around criticising and abusing Kejriwal. In contrast, AAP is focused on a positive campaign, based on the work we’ve done for the people," he added. Kejriwal, alongside Atishi and other senior AAP leaders, reiterated allegations that the BJP was manufacturing false cases against key AAP leaders, including Atishi, Saurabh Bhardwaj, Satyendar Jain, and Manish Sisodia. He claimed that the Enforcement Directorate (ED) was likely to raid these leaders' properties as part of an effort to intimidate them, particularly because of their vocal criticism of the BJP. The controversy deepened with a public notice from the Delhi Women and Child Development (WCD) Department early Wednesday morning, which stated that the Mahila Samman Yojana and the scheme for free health treatment for senior citizens had not been officially notified. Atishi swiftly rejected the notice, calling it false. “The notices published today are incorrect. The BJP pressured certain officers to have this notice issued. We will take administrative and police action against those responsible,” Atishi said. She further explained that the Mahila Samman Yojana had already been approved by the Delhi Cabinet, and the information was made publicly available. She reaffirmed that the Delhi government was committed to supporting women and senior citizens through these welfare schemes.
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2024-12-25 12:40
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2024-12-25
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12:40
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moneycontrol.com
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https://www.moneycontrol.com/news/opinion/fixed-income-segment-now-needs-reforms-on-the-distribution-side-12897375.html
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Fixed income segment now needs reforms on the distribution side
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If one word could summarise the fixed-income market in 2024, it would be “stability”.Related stories.
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As we wrap up 2024, the fixed-income landscape has stood out as a beacon of stability amidst global financial turbulence and geopolitical instability. While markets worldwide grappled with volatility and uncertainty, the Indian debt market offered investors a much-needed sense of calm and stability of returns. As of end September-2024, the Indian bond market stood at $2.69 trillion. 2024: The Year Fixed Income Redefined StabilityIf one word could summarise the fixed-income market in 2024, it would be “stability”. For investors, the motto "boring is beautiful" couldn’t be more relevant whilst the equity market struggled to keep volatility in check. Following rate hikes in prior years, the Reserve Bank of India (RBI) maintained a steady rate policy in 2024, creating a calm interest rate environment. Investors earned steady returns plus capital appreciation this year. The 10-year Government Security (G-Sec) yield reflected this stability, starting the year at 7.18 percent and currently at around 6.75 percent. Democratising Debt Market Access via Progressive Regulatory Reforms SEBI’s landmark decision to lower the face value of bonds from Rs 10 lakh to Rs 10,000 was a game-changer in 2024. This move broke down barriers, making bond investments accessible to retail investors. With just Rs 10,000, individuals could now diversify their portfolios and enjoy the benefits of stable income streams—an opportunity once accessible only to institutions. Revolutionising Investments with Online Bond Platform Providers With SEBI-registered OBPPs simplifying the investment process, retail investors could now buy bonds in minutes. These platforms provided the tools and transparency needed to make informed decisions, significantly driving retail participation. Bonds went from being seen as complex to becoming a straightforward and essential investment instrument in a retail portfolio. Global Validation of Indian Bonds India's inclusion in the JPMorgan Global Bond Index (GBI-EM) and Bloomberg's index in 2024 marked a significant milestone, propelling the country into the global investment spotlight. The subsequent inclusion in the FTSE Russell index, scheduled for September 2025, is poised to further solidify India's position as an attractive destination for foreign portfolio investment. This global recognition has not only underscored the maturity of India's bond market but also boosted domestic confidence. The Rise of Infrastructure Bonds Infrastructure bonds emerged as a focal point in 2024, supporting India’s ambitious growth agenda. With banks facing slower deposit growth, these bonds became a critical funding source, channelling resources into key development areas. For investors, infrastructure bonds offered not only predictable returns, typically in the range of 7.25–8.25 percent for tenures of 5–10 years, but also a unique opportunity to contribute to nation-building efforts. This alignment of public policy with investment opportunities underscores the vital role of infrastructure bonds in shaping India’s economic future. 2025: Navigating Global Uncertainty Geopolitical tensions and inflationary pressures will likely continue influencing global markets. However, India’s stable interest rate environment offers a cushion against external shocks. The RBI is expected to take a measured approach to rate cuts, sustaining the attractiveness of fixed-income investments for risk-averse investors, with no more than 25-50bps cuts anticipated. A Surge in Global Bond Flows Starting January 2025, India will receive inflows from the Bloomberg Global Bond Index, followed by the FTSE Russell in September. These developments are poised to:#Add significant liquidity to the market.#Reinforce India’s position as a key player in the global debt market.#Enhance accessibility for foreign investors, boosting overall confidence in Indian bonds.Private Credit and Innovative Funding Non-Banking Financial Companies (NBFCs), facing tighter access to traditional credit, are increasingly exploring private credit channels. This segment will likely see significant activity in 2025, offering investors an alternative avenue for diversification. Also likely to see some stress in MFI sector lending due to supply-demand dynamics The Push for Market Harmonisation Distribution of Fixed Income remains unregulated unlike equities and mutual funds. This should likely be addressed for more transparency and investor protection. Fragmentation in fixed-income trading venues—spread across Request for Quote (RFQ) and Capital Markets on exchanges —remains a challenge, leading to inefficiencies in price discovery and liquidity. Further harmonization of trading platforms through interoperability, standardized reporting, and innovative settlement technologies can streamline operations and strengthen India’s bond market. Retail Investors Lead the Way Retail participation in bonds is poised for significant growth in 2025, fuelled by advancements in OBPPs and a stronger focus on investor education. With the wealth creation effect due to equity markets, the need for portfolio diversification and investing in low volatility assets will make fixed income stand out as obvious choice. In a world of volatile equity markets and diminishing returns from traditional assets like real estate and gold, fixed-income investments stand out for their stability and predictability. (Vishal Goenka is Co-Founder of IndiaBonds.com. Views are personal and do not represent the stand of this publication)
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2024-12-25 12:19
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2024-12-25
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12:19
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moneycontrol.com
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https://www.moneycontrol.com/news/india/birth-of-bjp-how-atal-bihari-vajpayee-laid-the-foundation-of-world-s-largest-political-party-12897376.html
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Birth of BJP: How Atal Bihari Vajpayee laid the foundation of world's largest political party
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Born on December 25, 1924, Atal Bihari Vajpayee is widely credited for mainstreaming the BJP. (Photo: Getty Images).Related stories.
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The nation today marks the 100th birth anniversary of former Prime Minister Atal Bihari Vajpayee, a leader who has remained synonymous with what we today know as the Bharatiya Janata Party, arguably the world's largest political outfit. Born on December 25, 1924, Vajpayee, along with colleagues like Lal Krishna Advani and Murli Manohar Joshi, is widely accepted as the man responsible for mainstreaming the BJP, guiding the party to finding its feet, displacing the Congress from power and also leading the first non-Congress government for a full five-year term. The BJP's journey from a fledgling party to what it is today, however, has been long and tedious -- with Vajpayee at the centre of it. The birth of the BJP Founded on April 5, 1980, the Bharatiya Janata Party was formed after a split in the Janata Party on the issue of 'dual membership'. The split happened then Janata Party disallowed members of the erstwhile Bharatiya Jana Sangh to retain their membership of the Rashtriya Swayamsevak Sangh. "On July 30, 1979, the Janata Party banned its members from holding a membership of "any organization having faith in a theocratic state". On February 28, 1980, Janata Party's Jagjivan Ram announced that he would not leave the dual membership issue undecided and would pursue it to the end," Dr Nalin Mehta writes in his book 'The New BJP'. The split came three years after the Jana Sangh merged into the Janata Party, with four other Opposition parties, in response to then Prime Minister Indira Gandhi's declaration of the Emergency, a period that also saw the RSS being banned in the country. On April 5, 1980, the ex-Jana Sangh faction and several other leaders walked out of the Janata Party, leading to the formation of the Bharatiya Janata Party. They had with them 15 of the Janata Party's 28 Lok Sabha MPs, all 14 of its Rajya Sabha MPs, five former Cabinet ministers, eight former ministers of state and six former chief ministers. BJP the 'real' Janata Party Following its split with the Janata Party and significant numbers on its side, the BJP declared it to be the "real Janata Party" and not a breakaway faction. Vajpayee was elected as the BJP's inaugural president and the party declared that it would follow on the footsteps of 'Gandhian Socialism' and increase its mass appeal. Under Vajpayee as president, the BJP declared that it would never sever its ties with the RSS even as it set up a three-member committee, comprising SS Bhandari, Ram Jethamalani and Sikandar Bakht to draft the party's constitution. On April 24, 1980, the Election Commission provisionally froze the Janata Party's election symbol till it took a final call a few months later. Eventually, the EC recognized the faction led by Chandra Shekhar as the Janata Party in October 1980. From 'Gandhian socialism' to Hindutva Contrary to the BJP's hard line on issues of minority appeasement, Article 370 and the Uniform Civil Code, they did not figured in its political agenda initially. In his presidential address at the BJP's first national convention, Vajpayee said BJP had embraced 'samata', or equality, as envisaged by Dr BR Ambedkar. In fact, the adoption of 'Gandhian socialism' as a BJP policy faced objection from party vice-president Vijaya Raje Scindia who claimed that it would turn the party into a photocopy of the Congress, Dr Mehta writes in 'The New BJP'. However, she withdrew the objection saying that the party's senior leaders had clarified that the BJP's socialism had 'Indian content' unlike that of Karl Marx and that the socialism adopted by the BJP was the 'jan kalyanwwad' of Indian tradition and 'integral humanism' that Deen Dayal Upadhayay had argued for. However, the party's performance in the Lok Sabha elections in 1984, winning just 2 seats, triggered a change in thought process that saw it abandon 'Gandhian socialism' and return to the path of Hindu fundamentalism. PM Modi on Vajpayee Vajpayee stood tall when it came to the commitment towards protecting the Constitution of India, Prime Minister Narendra Modi wrote in a blog post on Wednesday. "He was deeply impacted by the martyrdom of Syama Prasad Mookerjee (Jana Sangh founder). Years later, he was a pillar of the anti-Emergency movement. In the run-up to the 1977 elections, he agreed to the merger of his own party (Jana Sangh) into the Janata Party. I am sure it would have been a painful decision for him and the others, but safeguarding the Constitution was all that mattered to him," PM Modi wrote in a column published on his website. Modi said Vajpayee nurtured the party from its formative years, guiding it through challenges, setbacks and triumphs. "Whenever the choice came between ideology and power, he always chose the former. He was able to convince the nation that an alternative world view from the Congress was possible and such a world view could deliver," the PM wrote.
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2024-12-25 12:06
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2024-12-25
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12:06
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moneycontrol.com
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https://www.moneycontrol.com/news/india/merry-christmas-why-do-we-celebrate-the-festival-on-december-25-12897349.html
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Merry Christmas! Why do we celebrate the festival on December 25?
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Christians around the world gather to celebrate Jesus’s birth on December 25. (Representational image).Related stories.
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I don't want a lot for Christmas... There is just one thing I need... I don't care about the presents underneath the Christmas tree... I just want you for my own... More than you could ever know... Make my wish come true... All I want for Christmas is you... Did Mariah Carey wish it to be the most played Christmas song ever? Perhaps, she did, and Santa Claus blessed her. December 25 marks the day of wishes for everyone, of every age, and every faith. Christians celebrate Christmas as the birthday of Jesus Christ, and the waft of joy runs through the rest of the world, rekindling hopes and reliving happiness. Joyful carols, brightly wrapped gifts, festive foods — all characterise the celebrations on this day. But just how did the Christmas festival originate? How did December 25 come to be associated with Jesus Christ’s birthday? The celebration of Jesus Christ’s birth takes place on December 25 in most parts of the world. But there is no consensus on when Jesus was actually born. Biblical scholars and historians agree that his actual birthdate is unknown and theBibleprovides no specific date. Gospels of Luke and Matthew The nativity of Jesus Christ is mentioned only in the Gospels of Luke and Matthew, which were written well after the death of Jesus, likely towards the end of the first century. Both the gospels only mention where Jesus was born and to whom. Jesus Christ was born in Bethlehem to Joseph and Mary. However, the exact date of his birth is not mentioned. The Gospel of Matthew does say that Jesus was born in the reign of Herod (circa 37 BCE to 4 BCE), a Jewish client-king appointed by the Romans to rule Judea. But no specific date or time of the year are provided. Whereas Luke mentions there being shepherds in the fields hurrying to see the blessed child — this is something that the Biblical scholars use as a seasonal marker. The biblical reference to shepherds tending their flocks at night when they hear the news of Jesus’ birth (Luke 2:8) might suggest the spring lambing season; in the cold month of December. Yet, according to Biblical Archaeology Society, most scholars would urge caution about extracting such a precise but incidental detail from a narrative whose focus is theological rather than calendrical. Tradition of midwinter parties Early Christian writings scarcely mention Christ's nativity because birthdays held little importance in the early church. This focus likely shifted as Christianity spread westward and, more significantly, to the north. “To understand what Christmas has become, first we should consider winter,” wrote Bruce David Forbes inChristmas: A Candid History(2007), as mentioned byThe Indian Express. Christianity originated in the Levant but soon spread to Europe where it reached places where winters were much harsher, to the point of being almost unlivable. Those living in the northern latitudes used to organise “big, blowout, midwinter parties” as a means of coping with the grim season. When Christianity spread to Europe, the tradition of midwinter extravagant parties continued. “We love the lights, the evergreen decorations, the music and the food, the chance to get together with family and friends, and the special feeling of warmth that comes with the festivities. Yet all of these features have no necessary connection with a story of a baby Jesus in a manger. Instead, they are the predictable characteristics of midwinter festivities,” Forbes wrote, according toThe Indian Express. Before Christmas came to be celebrated in the harsh winters, two examples of European midwinter festivities are the festivals of Saturnalia and Yule and the elements of both festivities can be found in Christmas celebrations today. Why did Christmas become big centuries after Christ? The earliest record associating Jesus' birth with December 25 appears in the Philocalian Calendar, compiled between 336 and 354 CE. However, the official celebration of Christ's birth in December did not begin until the fourth century. According to Forbes, the observance spread across the Christian world in the late 300s and early 400s. The rise of Christmas parallels the rise of Christianity as the predominant religion in Europe. Emperor Constantine (reign 306–337 CE), the first Roman emperor to adopt Christianity, used the faith to unify the empire, accelerating its spread in the public sphere. “In its newly public role, Christianity was now in a position to contend openly with its rivals… Christmas was started to compete with rival Roman religions, or to co-opt the winter celebrations as a way to spread Christianity, or to baptise the winter festivals with Christian meaning in an effort to limit their excesses,” Forbes wrote. Christmas, as we know it, evolved through this cultural exchange. While Christianity ultimately prevailed as the dominant European religion, the Church was forced to embrace many non-Christian traditions in the process, shaping the festive celebration we see today.
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2024-12-25 11:57
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2024-12-25
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11:57
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moneycontrol.com
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https://www.moneycontrol.com/technology/ai-in-smartphones-can-it-go-beyond-gimmicks-and-become-really-useful-in-2025-article-12897306.html
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AI in smartphones: Can it go beyond 'gimmicks' and become really useful in 2025?
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AI in smartphones.Related stories.
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Let's be real, AI in our smartphones hasn’t really been a game changer. Sure, we’ve gone beyond "smart" assistants that mostly fumble orders, blurry background effects, and those weird AI-powered filters. But AI is still not something that most people turn to on their phones. 2024 was a year when smartphone makers tom-tomed AI features like never before. From what we have seen, the potential is definitely there. Google's "Circle to Search" is a start – it's basically AI-powered image recognition that lets you search for things you see in the real world. But is it really something that will be used dedicatedly? Once in a while, perhaps, yes it can be useful. But can you live without it? Certainly. Late to the party but Apple introduced "Apple Intelligence," a more integrated AI system that could power everything from smarter Siri to writing tools. Again, I have used Siri in its latest avatar quite a bit. Not that I am dependent on it but just to experience what the fuss is all about. The new light show is good but beyond that Siri has only gone from being an ‘average’ student to an ‘above average’ one. No great shakes, frankly. But it’s still early days. Samsung made a big splash about Galaxy AI throughout the year. First with its S-series of phones and then the foldable phones. There are a bunch of AI features in the camera app. You can turn your images into portraits, fun sketches and so on. But the novelty wears off pretty soon and then they are just features that no one really cares about. Brands like Oppo, OnePlus, Vivo, Xiaomi — all entered the AI fray with similar features. There’s Magic Eraser, there’s AI summaries, and whatnot. But are they really making a difference? Not so much. The one AI feature that is really helpful is the translation feature. In fact, translation is one area where AI can be really good on smartphones. Apple’s integration of ChatGPT is also something which I found to be quite helpful as it doesn’t make me go into a separate app. Do people really want AI in their phones? For AI to really become useful in smartphones, developers need to pick the baton passed by the likes of Apple, Google, and Samsung. As clearly there seems to be awareness and demand. Counterpoint Research conducted a survey in September 2024 aimed to evaluate public awareness and perceptions of Generative AI (Gen AI), focusing on its impact, benefits, concerns, and influence on future smartphone purchase decisions. The survey was done in seven countries — India was not a part of it — and reached over 25,000 individuals, with detailed responses collected from a targeted group of 3,535 participants. The findings revealed that 32% of respondents were aware of Gen AI, with most exposure coming through chatbots and search engines. Among these aware users, 73% had interacted with Gen AI on their smartphones, underscoring the device’s pivotal role in driving awareness and monetization. The technology also appears to influence buying behavior, with 59% of respondents expressing openness to switching to Gen AI-enabled smartphones by September 2025, particularly in the US, which leads this trend. Notably, over two-thirds of participants indicated a willingness to pay a premium for smartphones equipped with Gen AI capabilities, reflecting the growing demand for smarter, more efficient devices. “Writing assistance has emerged as the top use case, thanks to its widespread availability, ease of use, and verifiable outputs. Other popular applications like image generation and voice assistants are also seeing significant adoption. However, features like ‘Circle to Search’ and ‘Call/Meeting Summaries’ ranked lower, likely due to concerns over accuracy and privacy,” said Tarun Pathak, research director, Counterpoint. 2025 might not be the year AI completely transforms our phones, but it could be a significant turning point. It could be the year we start to see AI move beyond gimmicks and truly start to make our lives easier, more creative, and more efficient.
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2024-12-25 11:57
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2024-12-25
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11:57
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moneycontrol.com
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https://www.moneycontrol.com/news/india/aap-s-mahila-samman-yojana-triggers-row-newspaper-ads-war-of-words-with-bjp-and-more-12897350.html
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AAP's Mahila Samman Yojana triggers row: Newspaper ads, war of words with BJP and more
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The 'Sanjeevani Yojana' promises to provide free healthcare for all senior citizens in Delhi..
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Amid the Aam Aadmi Party's (AAP) campaign for Delhi Assembly polls, the state government's Women and Child Development Department on Wednesday morning issued a public notification saying that "any political party collecting information from applicants in the name of the ‘Mukhyamantri Mahila Samman Yojana’ is committing fraud and has no authority”. The two AAP flagship schemes – Mahila Samman Yojana and Sanjeevani Yojana – were announced in the run up to Delhi Assembly Elections 2025 scheduled early next year. What does the ad say? The department said in the communique that it received information through media reports and social media posts that a political party claimed to give Rs 2,100 per month to the women of Delhi under the Mukhyamantri Mahila Samman Yojana. The department said no such scheme was in existence and any individual or political party collecting forms or applications was committing fraud. "It is emphasized that since no such Scheme is in existence, the question of acceptance of the form/application for registration under this non-existent Scheme does not arise. Any private person/political party who is collecting forms/applications or collecting information from applicants in the name of this scheme is committing fraud and has no authority," it stated. "If a person/entity calls you or visits you with the promise to provide benefit of free treatment under this supposed non-existent scheme or provide you some "Health/Sanjeevani Scheme Card in this regard, then you are hereby advised to: (1) not believe in any promise of free treatment under the supposed non-existent "Sanjeevani scheme" (2) not to provide any personal detail to anybody claiming to provide benefits under the scheme (3) not to affix your signature or thumbprint on any document unknowingly." What does BJP say? Earlier, BJP MP Bansuri Swaraj accused AAP convener Arvind Kejriwal of misleading Delhiites with false promises under the Sanjeevani and Mahila Samman schemes, the former Chief Minister has claimed the saffron party is “badly upset” with the schemes launched by his party. Addressing a press conference, Swaraj called the Aam Aadmi Party government a “failed administration” and highlighted a Rs 7,000-crore deficit under Kejriwal’s leadership. Swaraj claimed that Delhi’s health secretary publicly denied the existence of ‘Sanjeevani’ scheme, calling it a “fabrication” by the AAP government. She further slammed the Mahila Samman scheme, labelling it a "hoax”. “The promised Rs 2,100 for women is a mere gimmick,” she said, adding the cabinet note only approved Rs 1,000, an amount already announced in March before the Lok Sabha elections. The BJP leader accused the AAP government of deliberately stalling the Modi government’s welfare schemes, including Ayushman Bharat, which remains unimplemented in Delhi, a statement said. Swaraj highlighted the AAP’s “failure” in Punjab, noting that women there have not received any promised funds despite two years of AAP rule, it added. She also questioned Kejriwal’s priorities, accusing him of focusing on misleading narratives rather than addressing critical issues like air pollution, the condition of the Yamuna River, and Delhi’s overall development. “The AAP government has consistently misled the people of Delhi and brought the state into financial ruin. The people are ready for change, and BJP will bring the transparency and governance Delhi deserves,” she said. How did AAP react? Shortly after the order was issued, Kejriwal attacked the Centre. "The Mahila Samman Yojana and Sanjeevani Yojana have rattled them. Within the next few days, they plan to arrest Atishi ji in a fake case. Before that, senior AAP leaders would be raided," he said in a post on X.
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2024-12-25 11:53
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2024-12-25
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11:53
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moneycontrol.com
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https://www.moneycontrol.com/news/india/china-2024-military-standoff-with-india-ends-in-ladakh-long-freeze-over-12897374.html
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China 2024: Military standoff with India ends in Ladakh, long freeze over
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Defence Minister Rajnath Singh too met his Chinese counterpart Dong Jun at the ASEAN Defence Ministers’ meeting in Vientiane, Laos, in November..Related stories.
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It was a breakthrough year in India-China ties after a near freeze in their relations for over four years – the longest since the 1962 war – with an agreement to end the eastern Ladakh military standoff. After the “amassing of a large number of troops by China along the Line of Actual Control (LAC) in Eastern Ladakh” in April-May 2020, as External Affairs Minister S. Jaishankar said in a recent statement in Lok Sabha, resulting in the Galwan Valley clash in June 2020, there had been a breakdown in relations between the two Asian giants. The post-1962 war chill lasted until the then Prime Minister Rajiv Gandhi’s visit to Beijing in 1988. This time, the two countries held periodic talks between the top commanders and through the Working Mechanism for Consultation and Coordination (WMCC), resulting in disengagement in stages from four points – the Galwan Valley, Pangong Lake, Hot Springs, and Gogra – in eastern Ladakh by creating buffer zones. Finally, on October 21, India and China firmed up an agreement on patrolling and disengagement of troops along the LAC in eastern Ladakh at the remaining friction points of Depsang and Demchok. The agreement led to the first structured meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit at Kazan in Russia, their first in five years. Subsequently, Jaishankar met Chinese Foreign Minister Wang Yi on the sidelines of the G20 meeting in Brazil in November, where they reached an understanding that the Special Representatives (SRs) and the Foreign Secretary-level mechanisms would be convened soon. Constituted in 2003 to comprehensively address the vexed dispute of the India-China border spanning 3,488 kms, the Special Representatives mechanism is headed by NSA Doval and Foreign Minister Wang. Defence Minister Rajnath Singh too met his Chinese counterpart Dong Jun at the ASEAN Defence Ministers’ meeting in Vientiane, Laos, in November. After the 23rd SR dialogue between Doval and Wang in December, the Ministry of External Affairs (MEA) said the extensive talks focused on a “positive” direction for cross-border cooperation, including resuming the Kailash Mansarovar Yatra and border trade. The Chinese side stated that a six-point consensus, including continuing to take measures to maintain peace at borders and promote healthy and stable development of relations, was reached between the two sides. While there was no clarity from China on why it moved its troops near the LAC in 2020, equally puzzling is the timing of the agreement to bring down the border tensions with India, months ahead of the 75th anniversary of their diplomatic relationship. But Beijing, in recent months, appeared to be mellowing down after its economy struggled to reverse its slowdown, weighed down by issues such as the property crisis and rising unemployment. Throughout the over four-year crisis, bilateral trade was not impacted. In fact, it continued to boom. The bilateral trade, according to Chinese official figures, totaled USD 138.2 billion in 2023, with Chinese exports climbing to USD 122 billion and Indian exports to China standing at USD 16.2 billion. India’s trade deficit with China amounted to USD 105.8 billion last year. The trade deficit in the first six months of this year climbed to USD 41.89 billion, with Chinese exports totaling USD 50.35 billion against India’s exports to China of USD 8.46 billion, according to data from the Indian Embassy in Beijing. In 2025, amid stubborn attempts by the US and EU to restrict Chinese exports with heavy tariffs, China looks to push its exports as well as investments in India, especially electric vehicles. Experts here see the trade expansion with India, currently the fastest-growing economy in the world, as a new avenue to partly offset its likely damages in the Trump 2.0 era. China also recalibrated its foreign, trade, and military policies ahead of this year’s US Presidential elections, especially after President-elect Donald Trump vowed to enhance tariffs over and above what he imposed against China in his first tenure. Officials here say there is considerable concern in Beijing that India-US relations under Trump’s Presidency will pick up further momentum, especially the Quad grouping comprising the US, India, Australia, and Japan, which China perceives as an alliance aimed at containing it. Besides India, China also sought to recalibrate frayed ties with Australia and Japan. Meanwhile, as China marked 75 years of communist party rule, a crucial meeting of the ruling Communist Party in July adopted a resolution for comprehensive reforms to lift the sluggish growth by achieving socialist modernization by 2035. President Xi, who continued to crack the corruption whip on the ruling Communist Party and military officials, asked them in January to turn the knife inwards and carry the anti-graft campaign without any mercy. Xi’s anti-graft campaign in the military has drawn global attention, which his critics say enabled him to consolidate his hold on power. China also announced it would raise its retirement age from January 2025 after its population dipped for a second consecutive year. The demographic crisis was further highlighted as China’s marriage registrations in the first half of 2024 fell to a record low since 1980, not to mention the reduced number of kindergartens and the drop in the number of children enrolled in them. In June, Chinese spacecraft Chang’e-6 successfully touched down in the South Pole-Aitken Basin – the far side of the Moon, in the first endeavor of its kind in human history to collect samples from the rarely explored terrain and brought back the soil. Meanwhile, Tibet and Arunachal Pradesh continued to be contentious issues as China celebrated the 65th year of its takeover of Tibet. In March, the Joe Biden administration recognized Arunachal Pradesh as Indian territory. Biden also signed into law the ‘Promoting a Resolution to the Tibet-China Dispute Act’ in July, triggering a sharp response from Beijing.
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2024-12-25 11:48
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2024-12-25
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11:48
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moneycontrol.com
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https://www.moneycontrol.com/news/india/mysuru-city-corporation-s-proposal-to-rename-road-after-cm-siddaramaiah-evokes-strong-objections-12897366.html
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Mysuru City Corporation’s proposal to rename road after CM Siddaramaiah evokes strong objections
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Karnataka CM Siddaramaiah.Related stories.
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Strong objections have been raised against the Mysuru City Corporation (MCC) council’s proposal to dedicate a stretch of road in the city after Karnataka chief minister Siddaramaiah. The proposal suggests naming a section of KRS Road, from the Lakshmi Venkataramanaswamy temple to the Outer Ring Road junction, as 'Siddaramaiah Arogya Marga', official sources told news agency PTI. On November 22, the MCC approved the decision at its meeting, which was based on a recommendation by Chamaraja Congress MLA Harish Gowda. The matter was first placed before the Mysuru deputy commissioner prior to being tabled in the council meeting. The MCC then issued a newspaper notice inviting views from the public on the proposal within 30 days on December 13, the sources said. Mysuru is the home district of Siddaramaiah, who is serving his second term as the chief minister. The JD(S) termed the decision regarding renaming of the KRS Road in Mysuru to 'Siddaramaiah Arogya Marga' as condemnable. Pointing out that Siddaramaiah is an accused in the MUDA site allotment case and is facing probe by the Lokayukta police, the opposition party said in a post on 'X': "There is no elected board in the Mysuru City Corporation. The officials appointed by the Congress government have decided to name the road after Siddaramaiah as they are indebted to him." Naming a road after the "corrupt" chief minister, who is involved in the MUDA scam, is a "betrayal and insult" not only to the historic city of Mysuru, but also to the entire state, the JD(S) alleged. RTI activist Snehamayi Krishna, on whose complaint a case was registered in the alleged MUDA site allotment scam, said the road for which Siddaramaiah's name is proposed is "historic", as Maharaja Nalwadi Krishnaraja Wadiyar donated a vast swathe of land and established a tuberculosis hospital there in memory of his sister Princess Krishnajammanni and her children who succumbed to TB. "The officials have decided to name a road after Siddaramaiah, who is an accused in the MUDA case, despite not having any power to do so. Several citizens have expressed their objections to the proposal. I'm also fighting against it legally. If the proposal is not dropped, we will challenge it in the high court and seek action against the concerned officials," Krishna was quoted as saying by PTI. Siddaramaiah is facing allegations of illegalities in the allotment of 14 sites to his wife Parvathi B M by the Mysuru Urban Development Authority (MUDA). Following a special court order, the Mysuru-located Lokayukta police on September 27 registered an FIR naming Siddaramaiah, his wife, brother-in-law Mallikarjuna Swamy, Devaraju (the original landowner who sold it to Swamy, later gifted to Parvathi), and others.
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2024-12-25 11:44
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2024-12-25
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11:44
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moneycontrol.com
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https://www.moneycontrol.com/technology/garena-free-fire-max-redeem-codes-for-december-25-2024-win-skins-bundles-diamonds-and-more-article-12897360.html
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Garena Free Fire MAX redeem codes for December 25, 2024: Win skins, bundles, diamonds, and more
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Garena Free Fire Max.Related stories.
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In the popular game Free Fire MAX, where players compete against global adversaries, earning exciting rewards like diamonds, pets, skins, and outfits is a major achievement. Fortunately, there are codes that allow gamers to obtain these treasures without spending real money. Garena Free Fire MAX, developed by 111 Dots Studio, is a highly acclaimed multiplayer battle royale game known for its adventure-driven gameplay. By registering an account and playing the game, you can enjoy its unique features and advantages. Every day, the developers of Garena Free Fire MAX release a new batch of redeem codes, each offering the potential to unlock a variety of rewards, from stylish skins to powerful weapons and valuable diamonds. Garena Free Fire MAX Redeem Codes for today, December 25 WFS2Y7NQFV9SFFX4QKNFSM9YFXK2NDY5QSMXFC4XSKWQFX9YNPTFYW7QPXN2GXFT7YNWTQSZFFX4QKNFSM9YGXFT7YNWTQSZAYNFFQPXTW9KVY2KFXT9FQNCXF4SWKCH6KY4NPTFYW7QPXN2 Garena Free Fire Max December 25: How to redeem codes Step 1: Go to the redemption website by clicking on this link: https://reward.ff.garena.com/ Step 2: Log in using your credentials from one of the supported platforms like Google, Facebook, Huawei ID, Apple ID, or VK. Step 3: Once logged in, you will be directed to a page where you can input the 12-digit redemption codes. Step 4: After successfully redeeming the codes, claim your rewards from the in-game mail section.
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2024-12-25 10:54
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2024-12-25
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10:54
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moneycontrol.com
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https://www.moneycontrol.com/news/india/security-forces-seize-3-6-kg-explosives-from-under-bridge-in-manipur-s-churachandpur-12897353.html
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Security forces seize 3.6 kg explosives from under bridge in Manipur's Churachandpur
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In a joint operation, the Assam Rifles and Manipur police seized the explosives from Leisang village along the Imphal-Churachandpur route, it said..
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Security forces seized 3.6 kg of explosives from under a bridge in Manipur’s Churachandpur district, an army statement said on Wednesday. In a joint operation, the Assam Rifles and Manipur police seized the explosives from Leisang village along the Imphal-Churachandpur route, it said. Spear Corps in a post on X said, ”Acting on specific intelligence on presence of IEDs in general area Leisang village, Churachandpur district, #Manipur, #AssamRifles formation under #SpearCorps and @manipur_police launched a joint search operation and recovered 3.6 kgs of explosives, detonators, cordtex and other accessories under a bridge on the Imphal-Churachandpur route. The bomb squad was deployed to defuse the explosives, it said.The security forces on Tuesday seized seven firearms including one M-16 with magazine, four SBBL country-made guns, one revolver and ammunition from Moljol village in Churachandpur district, a police statement said.
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2024-12-25 10:54
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2024-12-25
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10:54
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moneycontrol.com
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https://www.moneycontrol.com/technology/whatsapp-rolls-out-new-document-scanning-feature-how-it-works-availability-and-more-article-12897352.html
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WhatsApp rolls out new document scanning feature: How it works, availability and more
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WhatsApp.Related stories.
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WhatsApp has rolled out a new feature that makes it easier to scan documents directly through the phone’s camera. The feature will eliminate the need for using any third-party scanning apps or sending PDFs to contacts on WhatsApp. Availability The new feature is available currently only on iPhones with the latest iOS update. It is gradually rolling out to users and might take some time to show up.Moneycontrolchecked on an iOS device and the feature is available. It’s not clear when the feature will be available on Android phones. How to use the feature To use the feature, users simply open the document-sharing menu in a chat or group and select the “Scan Document” option. This activates the camera, allowing users to capture an image of the document. Once the document is scanned, users can preview and adjust the scan, with the app suggesting margins for cropping. If you want you can manually adjust these margins to ensure the content is framed accurately. Meanwhile, WhatsApp has been rolling out a couple of new features for the festive season. Among them is the addition of a seventh reaction emoji. Both iOS and Android users can use the Party Popper emoji as a default reaction. This new emoji joins the existing array of reactions that users can choose from to express their emotions quickly and easily in conversations. Previously, WhatsApp offered six default reactions: thumbs up, heart, crying with laughter, shocked face, sad face, and high five. The addition of the Party Popper emoji provides a dedicated option for celebrating special moments, birthdays, or any occasion that calls for a festive touch.
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2024-12-25 10:41
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2024-12-25
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10:41
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moneycontrol.com
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https://www.moneycontrol.com/news/india/atishi-to-be-arrested-soon-in-fake-case-claims-kejriwal-12897346.html
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Atishi to be arrested soon in fake case, claims Kejriwal
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Delhi Chief Minister Atishi and AAP national convener Arvind Kejriwal..
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AAP chief Arvind Kejriwal on Wednesday claimed that Delhi Chief Minister Atishi would soon be arrested in a fake case as "some people" were rattled by the government's announcement of welfare initiatives such as the Mahila Samman Yojana and the Sanjeevani Yojana. "These people are badly upset by the Mahila Samman Yojana and Sanjeevani Yojana. They have planned to arrest Atishi ji in the next few days by making a fake case Before that, raids will be conducted on senior AAP leaders. I will hold a press conference on this today at 12 o'clock," said Kejriwal in a post on X.12Arvind Kejriwal (@ArvindKejriwal)December 25, 2024 The two AAP flagship schemes – Mahila Samman Yojana and Sanjeevani Yojana – were announced in the run up to Delhi Assembly Elections 2025 scheduled early next year. Under the Mukhyamantri Mahila Samman Yojana, Delhi-residing women aged above 18, who are not employed in government or political positions, are eligible for a Rs 2,100 monthly allowance. The Sanjeevani Yojana promises to provide free healthcare for all senior citizens in Delhi, covering treatment costs in both private and government hospitals. The AAP has ruled out the possibility of an alliance with the Congress for the upcoming Delhi Assembly elections. In a statement on X, the party earlier declared, “Aam Aadmi Party will be fighting this election on its own strength in Delhi. There is no possibility of any alliance with Congress.” The party has already released the names of its candidates for all 70 seats in the Delhi Assembly. The elections to the 70-member Delhi assembly are expected to be held in February next year.
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2024-12-25 10:32
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2024-12-25
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10:32
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moneycontrol.com
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https://www.moneycontrol.com/technology/opp-launches-a5-pro-smartphone-with-mediatek-7300-6000mah-battery-and-more-article-12897330.html
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Oppo launches A5 Pro smartphone with Mediatek 7300 Dimensity chipset, 6000mAh battery, and more
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Oppo A5 Pro.Related stories.
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Oppo has officially unveiled its latest mid-range smartphone, the A5 Pro, in China. Powered by MediaTek’s Dimensity 7300 chipset, the device packs a massive 6000mAh battery. The A5 Pro go on sale in China on December 27, offering four color options and four memory configurations: 8GB/256GB, 8GB/512GB, 12GB/256GB, and 12GB/512GB. The price of the A5 Pro starts from CNY 2,000 ($275/€265) for the base model to CNY 2,500 ($340/€330) for the top-tier variant, providing excellent value for money in the mid-range segment. The smartphone features a 6.7-inch AMOLED display with FHD+ resolution and offers 120Hz refresh rate. The A5 Pro’s display offers a peak brightness of 1,200 nits and comes with Corning Gorilla Victus 2 protection. The A5 Pro is IP69-certified for water and dust resistance and boasts 360-degree drop protection. One of the standout features is the 6,000mAh battery, which supports 80W wired charging. On the camera front, the device houses a dual-camera setup at the back, consisting of a 50MP primary sensor and a 2MP depth sensor. For selfies, there’s a 16MP front-facing camera. Other highlights include 5G connectivity, NFC support, stereo speakers, and an under-display fingerprint sensor. The A5 Pro ships with Oppo’s latest ColorOS 15, based on Android 15, offering a modern and feature-rich user experience. Currently exclusive to the Chinese market, the A5 Pro is expected to make its way to international markets in 2025. However, it is not known when the company will launch the smartphone in other markets.
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2024-12-25 10:24
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2024-12-25
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10:24
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moneycontrol.com
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https://www.moneycontrol.com/news/india/ed-probing-role-of-canadian-colleges-indian-entities-in-human-trafficking-12897315.html
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ED probing role of Canadian colleges, Indian entities in human trafficking
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The agency had earlier found that as part of the racket, the accused "arranged" admission for people, desirous to go to the US illegally, in colleges and universities based in Canada..
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The Enforcement Directorate is investigating the alleged involvement of some Canadian colleges and a few Indian entities in a money laundering case linked to the trafficking of Indians into the US from the Canada border. The investigation is linked to the death of a four-member Indian family, hailing from Dingucha village in Gujarat. The four died of extreme cold while trying to cross the Canada-US border illegally on January 19, 2022. The ED said it took cognisance of an Ahmedabad Police FIR against Bhavesh Ashokbhai Patel, who emerged as the main accused in the matter, and a few others, to file a complaint under the criminal sections of the Prevention of Money Laundering Act (PMLA). Patel and others are alleged to have "hatched a well-planned conspiracy to send people (Indians) to the USA through Canada via illegal channels thereby committing the offence of human trafficking," it said. The agency had earlier found that as part of the racket, the accused "arranged" admission for people, desirous to go to the US illegally, in colleges and universities based in Canada. A Canadian student visa was applied for such people and once they reached that country, instead of joining the college, they "illegally" crossed the US-Canada border, the agency said in a statement on Tuesday. "In view of this, the fee received by colleges based in Canada was remitted back to the individuals' account," the ED alleged. Indians were "lured" into the racket and charged between Rs 55 and Rs 60 lakh per person, according to the ED. The agency said it undertook fresh searches in this case on December 10 and December 19 at eight locations in Mumbai, Nagpur, Gandhinagar and Vadodara. It was found, the ED said, two "entities", one based in Mumbai and the other in Nagpur, entered into an "agreement" for admission of Indians in universities based in foreign countries on a commission basis. The agency said the latest searches found that about 25,000 students are being referred by one entity and more than 10,000 students by the other to various colleges based outside India every year. "Further, it is gathered that there are around 1,700 agents/partners based in Gujarat and around 3,500 agents/partners of other entities all over India out of which around 800 are active. "It is further revealed that around 112 colleges based in Canada have entered into an agreement with one entity and more than 150 with another entity. Their involvement in the instant case is under investigation," the ED said. The agency suspects that out of the total 262 such colleges in Canada, a few, which are geographically located near the Canada-US border, are involved in the trafficking of Indian nationals. The ED said it froze Rs 19 lakh in bank deposits, some "incriminating" documents and digital devices, and seized two vehicles in connection with its probe.
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2024-12-25 10:12
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2024-12-25
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10:12
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moneycontrol.com
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https://www.moneycontrol.com/news/india/spent-tenure-largely-in-oppn-benches-but-was-never-bitter-pm-modi-pens-tribute-to-vajpayee-12897334.html
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'Spent tenure largely in oppn benches but was never bitter': PM Modi pens tribute to Vajpayee
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Vajpayee stands tall as a statesman who continues to inspire countless people, says PM Modi..Related stories.
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Prime Minister Narendra Modi on Wednesday praised paid tribute to Atal Bihari Vajpayee on his 100th birth anniversary. In a post on X, the PM said, "Respectful tributes to former Prime Minister Bharat Ratna Atal Bihari Vajpayee ji on his 100th birth anniversary. He dedicated his life to building a strong, prosperous and self-reliant India. His vision and mission will continue to give strength to the resolve for a developed India." In an opinion piece which appeared in several newspapers, Modi said Vajpayee spent his long parliamentary tenure largely in the opposition benches but never carried any trace of bitterness even though the Congress stooped to new lows by going to the extent of calling him a "traitor". "He stands tall as a statesman who continues to inspire countless people," said the PM. The prime minister said Vajpayee provided stable and effective governance at a time when people were getting impatient and sceptical about the government's ability to deliver due to the political instability of the 90s when four Lok Sabha polls were held in about nine years. Coming from humble roots, Vajpayee realised the struggles of the common citizen and the transformative power of effective governance, Modi said, adding that the long-term impact of his leadership is visible in several sectors. The PM said Vajpayee's era marked a gigantic leap in the world of information technology, telecom and communications. He also cited initiatives like the Pradhan Mantri Gram Sadak Yojana and the push for Metro connectivity by doing extensive work for the Delhi Metro, which stands out as a world-class infrastructure project. He said, "The Vajpayee government not only boosted economic growth but also brought distant regions closer, fostering unity and integration." PM Modi said the Vajpayee government's decision to carry out nuclear tests and its handling of the aftermath provide a wonderful example of his leadershi. "The world was stunned that India had done the tests and expressed their anger in no uncertain terms. Any ordinary leader would have buckled, but Atal ji was made differently. And what happened? India stood firm, with the government calling for another set of tests two days later, on May 13." If the tests of May 11, 1998, showed scientific skill, the ones on May 13 showed true leadership, he said. It was a message to the world that gone were the days when India would buckle under threats or pressure, he said. Despite facing international sanctions, Modi said, the NDA government stood firm, articulating India's right to safeguard its sovereignty while simultaneously being the strongest proponent of world peace. Modi said Vajpayee understood Indian democracy and also the need to make it stronger. He presided over the creation of the NDA, which redefined coalitions in Indian politics and became a force for development, national progress and regional ambitions. "His parliamentary brilliance was seen throughout his political journey. He belonged to a party with a handful of MPs but his words were enough to rattle the might of the all-powerful Congress Party that time. As Prime Minister, he blunted the criticisms of the Opposition with style and substance," Modi said. His persona was magnetic and his life was enriched by his love for literature and expression, he said. PM Modi said for so many Bharatiya Janata Party members like him, it is their privilege that they were able to learn and interact with a person like Vajpayee. Whenever the choice came between ideology and power, Vajpayee always chose the former, Modi said. "He was able to convince the nation that an alternative world view from the Congress was possible and such a world view could deliver," he said, asking people to rededicate themselves to realising his ideals and fulfilling his vision for India.
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2024-12-25 10:06
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2024-12-25
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10:06
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moneycontrol.com
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https://www.moneycontrol.com/news/business/major-family-offices-pe-funds-set-sights-on-majority-stake-in-haier-india-report-12897343.html
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Major family offices, PE funds set sights on majority stake in Haier India: Report
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Haier Appliances India, the third-largest player in the country’s appliances market after LG and Samsung, sells refrigerators, washing machines, televisions, and air-conditioners..
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Prominent family offices and private equity (PE) funds are exploring the acquisition of a controlling stake in Haier's Indian operations, as the Chinese consumer appliances giant looks to localise its business amid growing regulatory scrutiny, according to a report byThe Economic Times. Warburg Pincus has partnered with Sunil Mittal of Bharti Enterprises, while Bain Capital has teamed up with Puneet Dalmia's family office from the Dalmia Bharat Group to bid for a minimum 51 percent stake in Haier Appliances India, the report added, citing people familiar with the matter. Other contenders in the race include TPG Capital, Goldman Sachs, GIC of Singapore, and BK Goenka of Welspun Group. Some bidders have submitted non-binding offers, while others are in discussions with influential Indian business families like Ranjan Pai of Manipal, the Burmans of Dabur, and the Munjal family,ETreported. Financial investors such as Blackstone, CVC Capital Partners, EQT, and TA Associates have reportedly been approached and are considering their options. Sources toldETthat prospective buyers prefer to leverage their family offices or private entities for the transaction, instead of using their publicly listed companies. Haier Appliances India, the third-largest player in the country’s appliances market after LG and Samsung, sells refrigerators, washing machines, televisions, and air-conditioners. Although Haier had initially sought a passive local partner to acquire a minority 20-49 percent stake, bidders have insisted on a majority 51 percent shareholding. They have also emphasised the need for non-Chinese entities to hold a larger economic interest, Indian-led management, and the potential for a future local listing as prerequisites for any deal, the report said. Citi is advising Haier on the transaction,ETnoted.Moneycontrolcould not independently verify the report.
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2024-12-25 09:56
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2024-12-25
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09:56
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moneycontrol.com
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https://www.moneycontrol.com/news/india/tourist-rush-in-himachal-pradesh-as-shimla-manali-get-covered-in-snow-for-christmas-over-200-roads-closed-4-dead-12897329.html
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Tourist rush in Himachal Pradesh as Shimla, Manali get covered in snow for Christmas; over 200 roads closed, 4 dead
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Shimla was covered in snow on Monday, ahead of Christmas. (Image: PTI).Related stories.
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Heavy snowfall in several parts of Himachal Pradesh turned Manali and Shimla into picturesque landscapes and white wonderland prompting tourists to rush to the hill stations for the holiday season. But the tourist influx has resulted in a logistical challenge as nearly 1,000 vehicles got stuck in long traffic jams between Solang and Atal Tunnel, Rohtang. Police officials, assisted by local authorities, launched a rescue operation, evacuating around 700 stranded tourists to safe locations till Tuesday. As the temperatures dropped below freezing point in several regions, snow covered popular tourist destinations in the hill state. The snowfall led to a closure of nearly 200 roads and four deaths due to skidding incidents. About 223 roads, including the national highways between Attari and Leh, Sanj to Aut in Kullu district, and Khab Sangam in Kinnaur district and Gramphoo in Lahaul and Spiti district, were closed for traffic, PTI reported on Tuesday. Shimla reported most road closures (145), followed by 25 in Kullu and 20 in Mandi districts. Some areas were without electricity after 356 transformers stopped working, the State Emergency Operation Centre said. Meanwhile, Public Works Minister Vikramaditya Singh said the department is ready to handle the tourist influx, adding that a total of 268 machineries, including two snow blowers, have been deployed to clear the roads. The MeT department has reportedly predicted rain and snow at isolated places in some parts of the state, Shimla in particular, from Friday evening to Sunday afternoon, with the downpour peaking on Saturday. Lahaul and Spiti coldest in Himachal As per the local Met department, Khadrala received 24 cm of snow, followed by Sangla (16.5 cm), Shillaro (15.3 cm), Chopal and Jubbal (15 cm each), Kalpa (14 cm), Nichar (10 cm), Shimla (7 cm), Pooh (6 cm) and Jot (5 cm), News18 reported. Kukumseri in Lahaul and Spiti was coldest in Himachal Pradesh on Tuesday with night temperature dropping to minus 6.9 degrees Celsius. (With inputs from agencies)
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2024-12-25 09:48
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2024-12-25
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09:48
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moneycontrol.com
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https://www.moneycontrol.com/technology/wordle-today-hints-and-answer-for-december-25-2024-article-12897336.html
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Wordle today: Hints and answer for December 25, 2024
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Wordle.
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Wordle is a widely loved word game that challenges players to guess a five-letter word within six attempts. Created by Josh Wardle, the game has gained immense popularity for its simple rules and daily challenges. The game combines logical thinking with a test of vocabulary, making it a favourite for millions of players globally. If you play Wordle and looking for some hints, here are some clues for you to solve December 25’s puzzle:1. The word is a noun.2. It includes two vowels.3. It starts with the letter ‘S’.4. No letters are repeated.5. The word refers to a portion or part. Wordle answer for December 25, 2024 For those who couldn’t crack today’s Wordle, the answer is SHARE. How to play WordleTo play Wordle, visit The New York Times Games and enjoy the challenge. Players must guess a new five-letter word daily, using clues from the game’s feedback system:• Gray tiles: The letter isn’t in the word.• Yellow tiles: The letter is in the word but in the wrong position.• Green tiles: The letter is in the correct position. The game tracks your performance, including winning streaks and success rates, adding a competitive element.
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2024-12-25 09:47
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2024-12-25
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09:47
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moneycontrol.com
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https://www.moneycontrol.com/news/india/when-atal-bihari-vajpayee-considered-dissolving-bjp-story-of-how-a-young-party-found-its-footing-12897322.html
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When Atal Bihari Vajpayee considered dissolving BJP: Story of how a young party found its footing
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File photo of Atal Bihari Vajpayee and LK Advani.Related stories.
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When the BJP Wanted to Disband Itself: The Blueprint that Drove the New BJP It is difficult to imagine now, but there was a time when Atal Bihari Vajpayee, as BJP president, actually thought of disbanding the party. The party, which had imagined itself from Day One as an ‘alternative to Cong (I)’105 had suffered a crushing defeat in 1984, winning just two parliamentary seats in that year’s national election. Vajpayee, its most popular national leader, had himself lost his parliamentary seat from Gwalior to Congress’s Madhav Rao Scindia. Crestfallen, he commissioned a special twelve-member working group in 1985 to review the party’s functioning and to answer some tough questions on why the BJP found itself ‘miles away’ from its objective after its first five years. One of these questions was whether the BJP’s creation itself had been a mistake and whether it should dissolve itself and return to its Jan Sangh avatar. In its first two years, as now, the BJP had focused on the nuts and bolts of building an organisation. As a review by L.K. Advani had noted in 1983, the organisation’s aim was ‘almost entirely on enrolling members, forming committees, and thus building the party’s organisational infrastructure right from the Panchayat level to the level of Parliament’.107 In its first two years, the BJP’s primary membership went from 2.2 million to 3.9 million. By 1983, it had succeeded in setting up district committees in 80 per cent of Indian districts, except the Northeast.108 Yet, the party was virtually wiped out electorally in the Rajiv Gandhi wave of 1984 after Indira Gandhi’s assassination. Vajpayee’s response was to set up a working group, headed by Krishanlal Sharma and including the late Pramod Mahajan,109 to answer two questions 1. Whether the party’s defeat was because of its decision to merge Jana Sangh with the Janata Party in 1977 and withdraw from the Janata Party in 1980? Were both the decisions wrong? 2. Should the BJP go back and revive the Jana Sangh Tasked with drawing up an ‘Action Plan for the future on all fronts— ideological, organisational, agitational, constructive and electoral’, the Working Group surveyed 4,000 party workers across the country, toured the states and met another 1,000 friends of the BJP. It answered in the negative to both questions.110 The Working Group found that the party had taken ‘a correct decision when it decided to merge with the Jana Sangh in the Janata Party, a wise decision when it decided to come out of the Janata Party to form BJP and a right decision when it chose to be BJP’.111 It was an important turning point for the party. It also provided the kernel for many of the underlying principles that appeared to drive Modi–Shah’s massive expansion three decades later: the focus on district-level party offices, training of cadres, emphasis on full-timers, leadership tours and agitations and a return to ideology. Among the BJP’s shortcomings, the Working Group found that there was a communication gap between the leadership and the grassroot levels; ‘lack of political training in a systematic manner to educate the workers on political, economic, ideological and organisational matters’; ‘lack of agitations at national level on national issues’; and a ‘poor response from women’.112 At a deeper level, the Working Group argued that the BJP was facing an existential crisis because it had veered away from its core ideological identity—making alliances and diluting how it portrayed its core beliefs as a ‘party with a difference’. ‘We must admit that we have belied our expectations,’ the report said. It was not ‘popular support which is wanting but our strong will to take initiative for becoming the pivotal point of the change in the country. The Party must catch up with the time and play its historic role for providing a credible national alternative.’113 The party’s return to Hindutva under L.K. Advani followed soon thereafter. In less than five years, the BJP passed the Palampur Resolution in 1989, committing itself to the building of the Ram Temple. To win elections, the report recommended expanding the membership of the party beyond its core cadres. The BJP had built a ‘cadre party’, but its leaders felt that this ‘by itself will not enable us to reach our goal’. It had to expand membership and to make ‘conscious efforts to enrol members from all sections of society’ to get a mass following. This meant getting ‘workers as leaders’. Just giving enough representation to various social sections did ‘not provide any weightage or leverage to that section’.114 Those who joined the BJP ‘must be shaped into leaders of that section’, the report recommended. This was essentially a call for making the party a vehicle for upward social mobility for ambitious politicians looking to make a career in politics. Both Narendra Modi and Amit Shah, who began their careers as ordinary party workers, fit the bill. The fact that so many second-line BJP leaders started with such grassroots backgrounds and rose to the top echelons of their party is an important factor in the rise of the BJP. The 1985 report also emphasised ‘training for the management of elections to be imparted to party cadres’. Specifically, it asked for cadre-training camps at the district level, state and national levels at least once a year.115 This is exactly why institutions like Rambhau Mhalgi Prabodhini were created, and why this training culture is at the heart of the BJP’s expansion efforts. This post-mortem also emphasised the need to enrol full-timers. ‘Everyone recognises the fact that politics has become very exacting and requires more and more hour to be devoted. The more and more full-time workers can be put in the field, to that extent, the grass-roots level work picks up.’116 This focus on full-time workers is precisely what Amit Shah emphasised during his tenure as party president, during which the party saw the most expansion. The report provided a template for leadership tours and agitations. ‘Agitate or Vegitate [sic]’, it declared. ‘Whether it is true or not with regard to other institutions or organisations working in other fields, it is quite true for parties and much more so to a party like BJP.’1 It will not be an exaggeration to say that the intellectual roots of Narendra Modi and Amit Shah’s leadership styles lie in these recommendations. In 2014, the BJP reinvented its tradition of pravaas—outstation trips by its leaders— mandating that all national office-bearers must visit nine states in one year. They would do so by rotation, ensuring that all states were covered. Amit Shah, for example, started his own pravaas from Naxalbari, where an armed revolt in the 1960s gave the Naxal movement its name. Between August 2014 and 2018, as party president, he had addressed 1,027 party organisation programmes, travelling 7,90,000 km or 519 km a day on average.118 In his first year and a half as president (August 2014 to end 2015), he stayed overnight on 102 occasions in various states.119 This data indicates the heavy emphasis that the BJP’s top brass puts on organisational work, compared to its national rival, the Congress. In conclusion, the 1985 report extolled the value of the ‘Party office’ as the ‘nerve centre of the Party activities’ recommending that a ‘well-equipped, efficient, effective functioning office is a must at national level, State level and district level’. In particular, it found that the BJP had no offices in a large number of Indian districts. Hence, it laid down: ‘Party offices in a manner in which we require should be set up in all the districts throughout the country within a year.’120 Again, the roots of Amit Shah’s district office building drive can be traced back to this three-decades-old document. Although it took the BJP another three decades to follow through on the recommendations—only after it came to power under Modi, and had the resources to do so—the template used, with some modern modifications, was rooted in the party’s learnings in its earliest years. The role of party structure as a tool of political mobilisation is relatively understudied in India. But, in a rapidly urbanising and demographically young India, it should not be underestimated. Some of the BJP’s electoral successes in recent years accrue as much to this grassroots work as to its larger ideological shifts. As Amit Shah put it, ‘That era has gone when two leaders in Delhi would shake each other’s hands in a drawing room and behind them a voter will follow like a bonded labourer. A voter decides his vote himself and uses it on the basis of what is better for his area, his country and for himself.’ Modi and Shah undoubtedly brought with them a new energy and a different leadership style to the BJP from 2014 onwards, and it completely changed how the party was run in the Vajpayee and Advani years. (This is an edited excerpt from Nalin Mehta's 'The New BJP: Modi and the Making of the World's Largest Political Party')
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2024-12-25 09:47
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2024-12-25
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09:47
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moneycontrol.com
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https://www.moneycontrol.com/technology/merry-christmas-2024-how-to-download-and-send-whatsapp-stickers-article-12897300.html
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Merry Christmas: How to download and send WhatsApp stickers to wish your friends and family
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Merry Christmas.
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If you plan to celebrate Christmas with your friends and family, then WhatsApp is one of the finest ways to do so. WhatsApp stickers are a popular way to convey festive greetings, including Merry Christmas messages. Here’s how to download and send them for Christmas 2024. Pre-requisitesLatest version of WhatsAppInternet connectionAccess to Google Play Store Steps to download Christmas WhatsApp Stickers Open WhatsApp: Ensure your app is updated to the latest version from the Google Play Store or Apple App Store. Access stickers section: Open any chat, tap the emoji icon, and then select the stickers tab at the bottom of the screen. Add sttickers: Tap the plus icon on the sticker menu to open the sticker store. Search for Christmas Stickers: Browse the available sticker packs or search for Christmas-themed packs. Download stickers: Tap the download icon next to the desired sticker pack. Once downloaded, it will appear in your sticker library. Alternatively, third-party apps on the Google Play Store or Apple App Store offer more Christmas sticker options. Search for “Christmas Stickers for WhatsApp” in your app store, download a preferred app, and follow the instructions to add the stickers to WhatsApp. How to send Christmas stickersOpen a Chat: Select the contact or group you want to send the sticker to.Access Stickers: Tap the emoji icon in the text input area and navigate to the stickers tab.Select a Sticker: Scroll through your downloaded packs and select a Christmas sticker to send.Send the Sticker: Tap the chosen sticker to send it directly in the chat. Tips for using stickersSave frequently used stickers to favourites for quicker access by long-pressing a sticker and selecting the star icon.Create personalised Christmas stickers using apps like Sticker Maker, which allows you to design and import custom stickers into WhatsApp.
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2024-12-25 09:45
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2024-12-25
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09:45
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moneycontrol.com
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https://www.moneycontrol.com/news/india/congress-moves-supreme-court-challenging-poll-rule-changes-12897335.html
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Congress moves Supreme Court challenging poll rule changes
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AICC general secretary Jairam Ramesh filed the petition..Related stories.
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The Congress has filed a writ petition in the Supreme Court challenging the recent amendments to the Conduct of Election Rules, 1961 and expressed hope that the apex court will help restore the "fast eroding" integrity of the electoral process. The government has tweaked an election rule to prevent public inspection of certain electronic documents such as CCTV camera and webcasting footage as well as video recordings of candidates to prevent their misuse. AICC general secretary Jairam Ramesh, who filed the petition, said in a post on X, "The integrity of the electoral process is fast eroding. Hopefully the Supreme Court will help restore it." "A writ has just been filed in the Supreme Court challenging the recent amendments to the Conduct of Election Rules, 1961.".A Writ has just been filed in the Supreme Court challenging the recent amendments to the Conduct of Election Rules, 1961.The Election Commission, a Constitutional body, charged with the conduct of free and fair elections cannot be allowed to unilaterally, and without publicJairam Ramesh (@Jairam_Ramesh)December 24, 2024 Ramesh said the Election Commission, a Constitutional body charged with the conduct of free and fair elections cannot be allowed to unilaterally, and without public consultation, amend such a vital law in such a brazen manner. "This is especially true when that amendment does away with public access to essential information that makes the electoral process more transparent and accountable," he said. Based on the recommendation of the Election Commission of India, the Union law ministry on Friday amended Rule 93(2)(a) of the Conduct of Election Rules, 1961, to restrict the type of "papers" or documents open to public inspection. (With PTI inputs)
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2024-12-25 09:40
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2024-12-25
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09:40
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moneycontrol.com
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https://www.moneycontrol.com/news/business/trade/india-s-agri-export-policy-up-for-a-revamp-to-tap-emerging-markets-report-12897328.html
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India's agri export policy up for a revamp to tap emerging markets: Report
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India, ranked the world’s eighth-largest agricultural exporter in 2023, saw its exports decline from $51.12 billion in FY23 to $48.77 billion in FY24..
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The six-year-old Agricultural Export Policy (AEP) is set for a review against the backdrop of evolving global market dynamics and the need to diversify India's export basket,Mintreported. The proposed revamp aims to enhance the competitiveness of Indian agricultural products, ensure compliance with global standards and promote value-added offerings. Additionally, the policy review will focus on strengthening trade ties with emerging markets while maintaining robust relationships with traditional partners, sources toldMint. Moneycontrolcould not independently verify the report. "Our agricultural exports have been witnessing an increasing trend over the last five years. The policy needs to be reviewed to realign our export targets with changing market demands. The review process will begin in consultation with the agriculture ministry, and a timeline will be established," sources told the daily. The world’s eighth-largest agricultural exporter saw its shipments decline from $51.12 billion in FY23 to $48.77 billion in FY24. Shifting global demand, evolving trade partnerships, and technological advancements in the farm sector have greatly influenced the export patterns and destinations over the recent years. The review will assess the existing policy's performance and identify areas for improvement. Key focus areas include boosting processed food exports, exploring new markets, and tapping into the rising demand for organic products. Enhancing export infrastructure to meet revised targets will also be a priority, according to theMintreport. India’s agricultural export portfolio is diverse, spanning products such as rice, wheat, vegetable oils, fresh fruits and vegetables, spices, cashew nuts, marine products, sugar, coffee, tea, dairy, poultry, and herbal items. The country’s top export destinations include the UAE, Singapore, the US, and emerging African markets like Tanzania, Angola, and Ghana.
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2024-12-25 09:27
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2024-12-25
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09:27
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moneycontrol.com
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https://www.moneycontrol.com/news/india/uttar-pradesh-vehicle-rams-into-ambulance-carrying-bodies-of-suspected-khalistani-terrorists-12897333.html
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Uttar Pradesh: Vehicle rams into ambulance carrying bodies of suspected Khalistani terrorists
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Rampur District Superintendent of Police Vidyasagar Mishra said that the ambulance carrying the bodies of three suspected terrorists from Pilibhit to Punjab was hit by the unknown vehicle on the Rampur bypass late Tuesday night..
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Rampur (UP), Dec 25 An unidentified vehicle rammed into an ambulance that was taking to Punjab the bodies of three suspected terrorists of the ’Khalistan Zindabad Force’ killed in an encounter in Uttar Pradesh’s Pilibhit, police said on Wednesday. No one was hurt in the incident that occurred on the Rampur bypass on Tuesday night, but the ambulance was damaged following which the bodies were shifted to another vehicle, they said. Rampur District Superintendent of Police Vidyasagar Mishra said that the ambulance carrying the bodies of three suspected terrorists from Pilibhit to Punjab was hit by the unknown vehicle on the Rampur bypass late Tuesday night. There was no casualty in the incident, he said. As soon as they received information about the accident, Rampur police rushed to the site and the three bodies were shifted from the damaged vehicle to another ambulance, he said. A joint team of Punjab Police and Uttar Pradesh Police killed the three suspected terrorists, who were allegedly involved in a grenade attack on a police post in Gurdaspur, in an encounter in Pilibhit’s Puranpur on Monday.
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2024-12-25 09:22
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2024-12-25
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09:22
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moneycontrol.com
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https://www.moneycontrol.com/news/world/canada-condemns-china-s-steps-against-canadian-institutions-over-uyghurs-tibet-12897319.html
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Canada condemns China's steps against Canadian institutions over Uyghurs, Tibet
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China seized control of Tibet in 1950 in what it describes as a ”peaceful liberation” from feudalistic serfdom. International human rights groups and exiles, however, have routinely condemned what they call China’s oppressive rule in Tibetan areas..
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The Canadian government condemned China on Tuesday for taking steps against two Canadian institutions and 20 people involved in human rights issues concerning the Uyghurs and Tibet. China announced the measures, which included asset freezes and bans on entry, on Sunday. Its targets included the Canada-based Uyghur Rights Advocacy Project and the Canada-Tibet Committee, China’s foreign ministry said. ”Global Affairs Canada expresses solidarity with the members of the Canadian Tibet Committee and the Uyghur Rights Advocacy Project and condemns the decision by the Chinese Government to punish them for speaking out for human rights,” the Canadian government said in a statement. The Canadian statement urged China to respect its obligations under international law while also urging Canadians to exercise a high degree of caution in China due to the risk of arbitrary enforcement of local laws. Rights groups accuse Beijing of widespread abuses of Uyghurs, a mainly Muslim ethnic minority that numbers around 10 million in the western region of Xinjiang, including the mass use of forced labour in camps. Beijing denies any abuses. China seized control of Tibet in 1950 in what it describes as a ”peaceful liberation” from feudalistic serfdom. International human rights groups and exiles, however, have routinely condemned what they call China’s oppressive rule in Tibetan areas. ”The Government of Canada will not tolerate any threats, acts of violence or harassment of people in Canada or their family and friends because of their political opinions or to silence dissenting viewpoints,” the Canadian government said.
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2024-12-25 09:19
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2024-12-25
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09:19
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moneycontrol.com
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https://www.moneycontrol.com/news/india/china-japan-foreign-ministers-meet-in-beijing-seafood-trade-on-agenda-12897318.html
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China, Japan foreign ministers meet in Beijing, seafood trade on agenda
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Japan has not decided on a reciprocal move but China has said it hopes Japan would work towards improving people exchanges between the two countries..
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Talks on seafood trade are expected to be on the agenda on Wednesday when Japan’s foreign minister visits China, Japan’s largest export market for aquatic products until Beijing placed a blanket ban in protest against Tokyo releasing treated radioactive wastewater into the ocean. It would be Takeshi Iwaya’s first visit to the Chinese capital since he became Japan’s foreign minister in October and he is scheduled to hold talks with China’s Foreign Minister Wang Yi and meet other Chinese officials. A major sticking point in bilateral trade has been Japan’s Fukushima nuclear plant wastewater discharge. Beijing had strongly opposed and condemned Tokyo’s decision on that and tightened inspections on Japanese goods in response. China imposed a full ban in August last year after Japan began releasing the treated radioactive water but both governments reached an agreement in September that would set a path toward restarting seafood shipments from Japan to China. Nikkei reported this week that China was contemplating lifting the import ban on Japanese seafood. But China still wants reassurances from Tokyo that it would fulfil its commitment to setting up a long-term international monitoring arrangement and allowing stakeholders such as China to conduct independent sampling and monitoring of the treated water. With sufficient monitoring, China will ”adjust relevant measures” and gradually restore imports that meet standards and regulations, a foreign ministry spokesperson said on Tuesday. The one-day visit follows an agreement between leaders of both countries that they will work towards a mutually beneficial strategic relationship, strengthening communication at various levels. Relations between the neighbouring countries are in a ”critical period of improvement and development”, Chinese President Xi Jinping said last month when he met Japanese Prime Minister Shigeru Ishiba on the sidelines of the Asia-Pacific Economic Cooperation forum in Lima, Peru. Xi said both should ”be partners, not threats”. Trade partners with close economic and investment ties but rivals in security and territorial claims, China-Japan ties are complicated with long-standing geopolitical disagreements and historical wartime sensitivities. The first Japanese foreign minister to visit since April last year, Iwaya may raise his country’s concerns about Chinese military activities around Japan as well as regional issues including North Korea. Japan expressed ”grave concern” last month over North Korea’s security alliance with Russia in which North Korea stands to gain advanced military technology and combat experience. Ukrainian and allied assessments show Pyongyang has sent around 12,000 troops to support Russia’s war in Ukraine. Ukraine warned this week that North Korea could send more personnel and equipment for Moscow’s army. On less testy topics, China could prod Japan for reciprocity in visa policies. China last month expanded its visa-free arrangements to include Japan until the end of 2025, restoring a policy that was suspended during the pandemic. The country, which has been adding countries to its visa-free list, also extended the stay period from 15 days to 30. Japanese citizens were able to enter China without a visa for up to 14 days before COVID-19. Japan has not decided on a reciprocal move but China has said it hopes Japan would work towards improving people exchanges between the two countries.
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2024-12-25 09:17
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2024-12-25
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09:17
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moneycontrol.com
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https://www.moneycontrol.com/news/world/pakistan-conducts-airstrikes-on-taliban-hideouts-in-afghanistan-12897321.html
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Pakistan conducts airstrikes on Taliban hideouts in Afghanistan
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The strikes occurred in Paktika province near the Pakistan-Afghanistan border. (Image: X//@Defense_GDA).
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In a rare operation, Pakistan carried out targeted airstrikes late Tuesday night on suspected Pakistani Taliban (Tehreek-e-Taliban Pakistan, TTP) hideouts in Afghanistan’s Paktika province, dismantling a training facility and reportedly killing several insurgents. The strikes, conducted in the mountainous region bordering Pakistan, remain shrouded in ambiguity regarding their depth and execution method. Officials, speaking anonymously, withheld specific details due to confidentiality concerns. The Afghan Defense Ministry condemned the airstrikes, accusing Pakistan of targeting civilians, including refugees from Waziristan. “This act is a blatant violation of international principles and sovereignty,” the ministry declared, promising retaliation and affirming Afghanistan’s right to defend itself. Local residents claimed at least eight casualties, including women and children, with the death toll likely to rise. The strikes occurred mere hours after Mohammad Sadiq, Pakistan’s special envoy to Afghanistan, visited Kabul to discuss bilateral trade and regional cooperation. Sadiq also conveyed condolences for Khalil Haqqani, Afghanistan’s former minister for refugees, who was killed in a December 11 suicide bombing claimed by the Islamic State affiliate. During his visit, Sadiq met with Afghan acting Interior Minister Sirajuddin Haqqani and Foreign Minister Amir Khan Muttaqi. He later described the talks as “wide-ranging” in a post on X (formerly Twitter). A delegation from Pakistan’s Jamiat-e-Ulema Islam also visited Kabul to offer condolences over Haqqani’s death. Pakistan has frequently accused the TTP of using Afghan soil to orchestrate attacks across the border, a claim vehemently denied by Kabul. Following the Afghan Taliban’s return to power in 2021, the TTP has intensified operations, abandoning a ceasefire in November 2022 and escalating attacks on Pakistani security forces. The TTP’s increased activities have resulted in significant casualties among Pakistani soldiers and police, raising concerns about cross-border terrorism and regional instability. This operation marks Pakistan’s second such airstrike since March 2024, signaling a firm stance against the TTP’s insurgency. (With inputs from agencies)
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2024-12-25 09:07
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2024-12-25
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09:07
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/wall-street-ends-higher-as-santa-rally-begins-12897323.html
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Wall Street ends higher as Santa rally begins
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Wall Street.Related stories.
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Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session. Both the Dow Jones Industrial Average and Nasdaq Composite scored four straight sessions of gains, with the S&P 500 taking its winning streak to three sessions, marking the first day of the seasonal Santa Claus rally. The Dow had skidded for 10 straight sessions earlier this month, its longest losing streak since 1974. With megacap stocks having outsized influence on markets, their performance is often a key driver of indexes. When coupled with reduced trading volumes and few other catalysts, as many investors take time off for the holidays, this is even more pronounced. All the so-called Magnificent Seven megacap technology stocks climbed on Tuesday, led by the 7.4% jump in Tesla shares. The automaker's best one-day gain in six weeks helped push the consumer discretionary index 2.6% higher. It was the top gaining sector in the S&P, with all 11 ending in positive territory. Elsewhere, chip manufacturers were also buoyant. Broadcom and Nvidia rose 3.2% and 0.4%, respectively, while Arm Holdings climbed 3.9%, recouping most of the losses suffered the previous day from losing a court case. Growth names rose despite U.S. Treasury interest rates remaining elevated - the benchmark 10-year note yielded around 4.61% on Tuesday, its highest level since May. Traditionally, higher debt costs crimp growth stocks. However, the long-term themes around technology development, including advancements in artificial intelligence, overshadow any near-term moves in Treasuries, said Charlie Ripley, senior investment strategist for Allianz Investment Management. "This reinforces that view that the sector is going to remain strong, and should be well into the new year," he said. The S&P 500 climbed 65.97 points, or 1.10%, to 6,040.04 points, while the Nasdaq Composite advanced 266.24 points, or 1.35%, to 20,031.13. The Dow Jones Industrial Average rose 390.08 points, or 0.91%, to 43,297.03. Stock markets shut at 1:00 p.m. ET on Tuesday and will be closed for Christmas on Wednesday. After a stellar run to record highs following the November U.S. election, which sparked hopes of pro-business policies under President-elect Donald Trump, Wall Street's rally hit a bump this month as investors grappled with the prospect of higher interest rates in 2025. The Federal Reserve eased borrowing costs for the third time this year last Wednesday, but signaled only two more 25-basis-point reductions next year, down from its September projection of four cuts, as policymakers weigh the possibility of Trump's policies stoking inflation. Allianz's Ripley said the themes which had driven the market higher in the past two months remained intact, and actions by the Fed had not killed the rally. "Heading into 2025, things are set up with good positioning," he said, noting factors including economic outlook, consumption in the U.S. and the labor market. Crypto-related stocks traded higher on Tuesday, with Microstrategy, Riot Platforms, and MARA Holdings all climbing between 4.7% and 8.1%, as the price of bitcoin advanced. NeueHealth soared 75% after the healthcare provider said New Enterprise Associates, its largest shareholder, and a group of existing investors will take the company private in a $1.3 billion deal. American Airlines' shares edged up 0.6% after trading lower for much of the session. The carrier briefly grounded all its flights in the United States on Tuesday due to an unspecified technical issue.
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2024-12-25 08:53
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2024-12-25
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08:53
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moneycontrol.com
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https://www.moneycontrol.com/news/india/rise-and-fall-the-congress-story-in-2024-12897109.html
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Rise and fall: The Congress story in 2024
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The Congress didnlt take long to lose the momentum it had gained after the Lok Sabha elections. (File Photo: PTI).Related stories.
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If one were to look back at the year for the Congress, it would be safe to remember 2024 as a year that almost sparked the revival of the party left battered and bruised after two back-to-back defeats in the 2014 and 2019 Lok Sabha elections. It is tough to imagine for a party -- relegated to the Opposition for two successive terms to double its tally in the general elections, jump from the number three spot to the top position in Maharashtra -- to give it all up in less than six months. The big numbers Eight states went to polls in 2024 -- Arunachal Pradesh and Sikkim in April, Andhra Pradesh and Odisha in May-June, Jammu and Kashmir and Haryana in September-October, and Jharkhand and Maharashtra in November this year. Of the seven states and one union territory that went to polls, the BJP is part of governments in 4 states (Arunachal Pradesh, Odisha, Haryana and Maharashtra) and in a national alliance with the party in power with one (Andhra Pradesh). The Congress, on the other hand, only has Jharkhand where it is in an alliance with the JMM, the senior partner in the alliance. The tally of states that went to polls stands in stark contrast when juxtaposed to the sentiment exuded by the Congress after the Lok Sabha elections. The party had almost doubled its tally from 52 to 99 to the Lok Sabha elections while the Opposition INDIA bloc, with 234 seats, managed to restrict the BJP to 240 seats, well short of the majority mark of 272. The Lok Sabha high The Congress began the year on a high note with party MP Rahul Gandhi undertaking the second leg of his Bharat Jodo Yatra from Chennai to Mumbai. The Congress followed it up with a concerted 'Samvidhan Bachao' campaign that turned the BJPs's '400 paar' slogan into a conspiracy to "change the Constitution" and end quota-based reservations. The campaign worked to the extent of depriving the BJP of a majority in the Lok Sabha on its own for a third successive term. But the hysteria within the Congress was nothing short of a victory and the party left no chance to portray it as one. There was a spring in the Congress' step and the BJP, despite putting on a brave face, was aware it had been dealt a lethal setback. The Haryana jolt Three months after the Lok Sabha elections, the Congress had the opportunity to turn its gains in the Lok Sabha elections into reality in the Assembly elections in Haryana. The anger of the Jats against the BJP, the decade-long anti-incumbency and the Congress' resurgence in the Lok Sabha elections -- it won five of the 10 seats in the state -- it all appeared to be adding up towards a certain victory for the Congress. However, over-confidence and over-reliance on support of the Jat community, while taking the support of the voters for granted, assuming the Lok Sabha momentum would carry it through, resulted in a shock defeat for the Congress -- its third successive loss in a row. The result also allowed the BJP a window to revive its spirits and reinforce its political standing. Maharashtra: Done and dusted Despite the BJP's win in Haryana, there was anticipation around the elections in Maharashtra -- a much larger state with a political turmoil not witnessed in any state in the recent past. The five years since the 2019 polls had seen multiple government changes, a vertical split in two parties and the Congress emerging with the highest number of seats in the Lok Sabha polls among them all. However, the results here proved to be even more disastrous than Haryana where the entire Opposition alliance -- the MVA -- collapsed like a house of cards. The Congress won 16 of the 288 Assembly seats in the state while the MVA was restricted to 48 seats. The aftermath While Jharkhand did offer some light at the end of the tunnel, the The back-to-back defeats in two states where the BJP emerged as the winner led to the Congress getting increasingly isolated and questions being raised on Rahul Gandhi's leadership abilities. As the year draws to a close, the Congress faces a challenge from the INDIA bloc constituents who are set to challenge its role as the 'big brother' in the alliance. Trinamool Congress chief Mamata Banerjee has already staked claim to the responsibility of steering the Opposition bloc as the leader of only party which has successfully managed to keep the BJP in check. The first meeting of the INDIA bloc is expected to be held in early January and the worst may not be over for the Congress yet.
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2024-12-25 08:53
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2024-12-25
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08:53
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moneycontrol.com
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https://www.moneycontrol.com/news/india/delhi-wakes-up-to-dense-fog-on-christmas-flight-and-train-operations-hit-12897311.html
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Delhi wakes up to dense fog on Christmas; flight and train operations hit
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The IMD has issued a yellow alert, warning of dense fog in the early morning hours..
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A layer of fog blanketed parts of Delhi-NCR on Wednesday morning, with the India Meteorological Department (IMD) reporting a minimum temperature of 9.6 degrees Celsius at 5.30 am. The dense fog caused low visibility, impacting flights and daily activities in the region. The IMD has issued a yellow alert, warning of dense fog in the early morning hours. The maximum and minimum temperatures for the day are expected to be 22 degrees Celsius and 9 degrees Celsius, respectively. Visibility at key weather stations like Safdarjung and Palam dropped to 100 meters. The weather conditions have also affected air travel, with an advisory at Delhi airport cautioning that flights not compliant with CAT III systems might face delays. Passengers have been advised to contact their airlines for updated information. CAT III, a precision approach system, allows aircraft to land safely during severe fog or poor visibility. Train services were also disrupted due to the fog. Several trains to and from Delhi were delayed, including the MFP ANVT SF Special by 4 hours 30 minutes, Poorva Express by 1 hour 30 minutes, and Darbhanga New Delhi Special by over 5 hours. Meanwhile, Delhi’s air quality remained in the 'very poor' category with an AQI of 334 at 6 am, a slight improvement from the previous day’s 398. Tuesday’s evening rainfall had temporarily improved the AQI to 358, prompting the revocation of Stage IV curbs under the Graded Response Action Plan (GRAP). However, pollution levels remain a concern, with two monitoring stations recording 'severe' air quality and the majority in the 'very poor' category. The day also saw a maximum temperature of 20.8 degrees Celsius, slightly warmer than usual for this time of year. Cloudy skies and a minimum temperature of 9.9 degrees Celsius, two notches above the seasonal average, were reported. The IMD has predicted another spell of rain in the capital from December 26 to 28. As temperatures remain in single digits, more homeless individuals sought refuge in government-run night shelters across the city. Delhi witnessed sporadic rainfall on Tuesday, which led to slightly higher day temperatures and contributed to marginal improvements in air quality. However, the weather office has predicted dense fog for the coming days, urging residents to remain cautious.
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2024-12-25 08:39
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2024-12-25
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08:39
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moneycontrol.com
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https://www.moneycontrol.com/technology/apple-does-not-want-to-make-a-search-engine-and-compete-with-google-here-s-why-article-12897308.html
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Apple does not want to make a search engine and compete with Google, here’s why
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Apple Google.
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Google is embroiled in a bitter legal battle with the US Department of Justice. At the heart of the case is Google’s multibillion dollar annual deal with Apple. Google pays Apple close to $15 billion to ensure that Google Search remains the default option on billions of Apple devices around the world. Many have speculated why Apple doesn’t make its own search engine. In a recent court filing in the Google vs DOJ case, Eddy Cue, Apple’s senior vice president, services, explained why Apple will not make a search engine. According to a report by Reuters, in the court filing, Cue noted that Apple’s focus is on other growth areas. “The development of a search engine would require diverting both capital investment and employees because creating a search engine would cost billions of dollars and take many years,” Cue said in the filing. Cue also said that it’s a big economic risk and more so because of the developments in AI. “Search is rapidly evolving due to recent and ongoing developments in Artificial Intelligence. That makes it economically risky to devote the huge resources that would be required to create a search engine,” he further said. Cue also said that Apple’s are business isn’t targeted advising something a viable search engine needs. “Apple does not have the volume of specialised professionals and significant operational infrastructure needed to build and run a successful search advertising business,” he said. He also said that while does some niche advertising on the App Store platform, search advertising is different and outside of Apple’s core expertise. “Building a search advertising business would also need to be balanced against Apple’s longstanding privacy commitments,” he added.
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2024-12-25 08:09
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2024-12-25
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08:09
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moneycontrol.com
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https://www.moneycontrol.com/news/business/personal-finance/year-ender-2024-home-loan-borrowers-burdened-with-high-interest-rates-can-expect-relief-in-2025-12897179.html
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Year-ender 2024: Home loan borrowers burdened with high interest rates can expect relief in 2025
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In the last monetary policy meet on December 6, it kept the repo rate unchanged at 6.50 per cent for the 11th consecutive time..Related stories.
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The Indian home loan segment has experienced some turmoil in recent years, due to rising interest rates, escalating property prices, and shifting economic dynamics. These factors have created significant challenges for homebuyers, particularly in the affordable housing segment. However, there is hope for a more favourable environment in 2025. Expected changes in interest rates, continued government support for affordable housing, and technological advancements in the loan process could provide much-needed relief to home loan borrowers in the New Year. The Reserve Bank of India (RBI) raised interest rates by 250 basis points cumulatively between May 2022 and February 2023. This had an adverse impact on home loan borrowers because those who had taken loans saw a substantial hike in their EMIs which put a strain on their finances. Many borrowers had to extend their home loan tenure to keep the EMIs manageable. The RBI paused the rate hike cycle in April 2023. In the last Monetary Policy Committee meeting on December 6, it kept the repo rate unchanged at 6.50 percent for the 11th consecutive time. Potential interest rate cut While inflation concerns may persist, there are signals that the RBI may potentially reduce the policy rates. In fact, some experts are predicting a 50-75 basis points reduction in repo rates in 2025, if food inflation moderates. This would directly translate into lower home loan interest rates, offering much-needed relief to borrowers who have faced the impact of rising EMIs in recent years. If such rate cuts were to be announced, borrowers can expect some respite in their EMI payments and potentially better borrowing terms in the near future. High property prices While interest rates rose, housing prices in India remained stubbornly high, especially in metropolitan cities like Mumbai, Delhi, Bengaluru, and Chennai. In fact, according to a report by ANAROCK property consultants, average residential prices across the top seven cities registered double-digit growth of 23 percent in Q3 2024 compared to Q3 2023. The escalation in property prices, driven by inflationary pressures in raw materials like steel and cement, further strained homebuyers, particularly in the middle-income and lower-income segments. Many first-time buyers found it increasingly difficult to save for down payments, especially with high property prices and rising loan costs. This also led to a slowdown in the housing market, especially for premium and luxury properties, where demand started to plateau. In fact, according to ANAROCK research, India's real estate market witnessed an eleven per cent decline in housing sales during the third quarter of 2024. However, 2025 is likely to be difference on several counts. For one, there is cautious optimism regarding interest rates for borrowers. Also read |Year-ender 2024: No RBI repo rate cut, but borrowers get transparent charges structure, digital inclusion via UPI Affordable housing The UnionBudget 2024-25 allocated a significant Rs 10 lakh crore to the Pradhan Mantri Awas Yojana (PMAY) Urban 2.0, aiming to provide housing to 100 lakh urban households. This substantial investment is expected to drive significant growth in the affordable housing sector in 2025. Government initiatives like interest subsidies and tax benefits are likely to boost home ownership, leading to increased demand for home loans. This, in turn, could prompt financial institutions to offer competitive interest rates and flexible repayment options. Also read |Didn’t submit your tax returns by July 31? Don’t miss the Dec deadline for late filing Digital transformation in loan processes The role of technology is set to grow further, with many lenders shifting to digital platforms for loan application, processing, and management. The use of artificial intelligence (AI) for credit assessments and digital document submission will streamline the loan process, making it faster and more transparent for borrowers. Borrowers will find it easier to access loan products, compare offers, and apply online, reducing paperwork and wait times. Fintech platforms are likely to play a bigger role, offering competitive rates and terms that appeal to tech-savvy borrowers. Going ahead, stabilising interest rates, coupled with continued government focus on affordable housing, will provide relief to borrowers who have been struggling under the financial burden of rising loan costs. The year 2025 presents an opportunity for borrowers to benefit from lower interest rates, government support, and a more stable housing market. The writer is CEO & Co-Founder, BASIC Home Loan
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2024-12-25 07:04
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2024-12-25
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07:04
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/mangal-electrical-industries-plans-rs-450-crore-ipo-files-drhp-with-sebi-12897275.html
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Mangal Electrical Industries plans Rs 450-crore IPO, files DRHP with SEBI
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Mangal Electrical Industries IPO.Related stories.
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Rajasthan-based Mangal Electrical Industries plans to approach the primary market to raise Rs 450 crore via an initial public offering for its capacity expansion and working capital requirements. It has filed a draft red herring prospectus (DRHP) with the SEBI on December 24. The IPO consists of an entirely fresh issue by the company, with no offer-for-sale component, hence the company received the entire IPO proceeds. The transformer components manufacturer may raise up to Rs 90 crore (pre-IPO placement) before the filing of red herring prospectus with the Registrar of Companies for the IPO launch. If it is able to complete a pre-IPO placement, the said amount will be reduced from the fresh issue. With five production facilities in Rajasthan, Mangal Electrical Industries also manufactures transformers and customised products in the power infrastructure industry, with transformers capacities ranging from single-phase 5 KVA to three-phase 10 MVA (medium power) units. It also provides EPC services for setting up electrical substations, catering to the power infrastructure sector. Click Here To ReadAll IPO News Its order book for all the business segments stood at Rs 97.87 crore as of November 2024. Governmental and municipal utilities such as Ajmer Vidyut Vitran Nigam and Jaipur Vidyut Vitran Nigam, and private sector energy producers such as Voltamp Transformers and Western Electrotrans are some of its customers. Mangal Electrical will utilise Rs 96.03 crore out of fresh issue funds for repaying its debt. It had outstanding borrowings of Rs 209.05 crore as of November 15, 2024. Further, Rs 120 crore will be used for expanding the facility at Unit IV at Sikar, Rajasthan, and civil works at its existing head office, Jaipur, Rajasthan to optimize space usage and increase storage capacity, while the Rs 122 crore will be utilised for working capital requirements, and the remaining IPO money for general corporate purposes. Also read:WestBridge Capital-backed IndiQube Spaces files draft papers for Rs 850-crore IPO On the financials front, Mangal Electrical has reported a net profit of Rs 20.9 crore for the fiscal 2024, declining by 15.3 percent compared to Rs 24.7 crore in the previous fiscal. However, revenue jumped nearly 27 percent on-year to Rs 449.5 crore in the same period. Profit for the June 2024 quarter stood at Rs 19.73 crore on revenue of Rs 247 crore. Systematix Corporate Services is appointed as the merchant banker for handling the public issue.
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2024-12-25 06:47
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2024-12-25
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06:47
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moneycontrol.com
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https://www.moneycontrol.com/news/business/stocks/stock-market-holiday-today-bse-nse-to-remain-shut-for-christmas-2-12897211.html
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Stock market holiday today: BSE, NSE to remain shut for Christmas
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Market Shut Today.Related stories.
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The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on December 25 on account of Christmas. Trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives will remain shut for the day. The commodity derivatives segment will also remain closed. Trading on the NSE and the BSE will resume on December 26 (Thursday). Also Read -Motilal Oswal predicts robust growth for Indian pharma, picks five stocks to ride the wave In a volatile session, the benchmark indices ended with marginal losses on December 24, with the Nifty above 23,700 amid buying seen in the auto, oil & gas, and FMCG names. At close, the Sensex was down 67.30 points or 0.09 percent at 78,472.87, and the Nifty was down 25.80 points or 0.11 percent at 23,727.65. Power Grid Corp, JSW Steel, SBI Life Insurance, Titan Company, and SBI were among the major losers on the Nifty, while Tata Motors, Adani Enterprises, Eicher Motors, BPCL, and ITC were among the gainers. Among sectors, buying was seen in the auto, FMCG, oil & gas, while selling was seen in the IT, media, metal, PSU Bank. The BSE midcap index ended on a flat note, while the smallcap index was up 0.3 percent. "After witnessing an upside bounce on Monday, Nifty failed to show a follow-through upmove on Tuesday and closed the day lower by 25 points amidst choppy movement. After opening on a positive note, the market moved up in the early part of the session. Intraday weakness triggered from near 23900 levels and the market showed weakness amidst range movement in the mid to later part of the session,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. "A small red candle was formed on the daily chart beside the similar positive candle of Monday. Typically, these two candles indicate inside day bar type formation. Normally such pattern formations after a reasonable decline signal caution for impending trend reversals only after the confirmation. A sustainable move above 23900 levels could confirm a bullish reversal pattern." "The near-term trend of Nifty is still weak and there are no signs of any important bottom reversals forming at the lows. Immediate resistance is placed around 23,900-24,000 levels. The next lower support is at 23,500," he added. The Indian rupee ended 9 paise lower at a fresh record low of 85.20 per dollar on Tuesday, compared to Monday's close of 85.11.
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2024-12-25 06:38
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2024-12-25
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06:38
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moneycontrol.com
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https://www.moneycontrol.com/technology/meta-s-ray-ban-smart-glasses-may-soon-get-a-display-to-view-notifications-and-enable-interactions-article-12897223.html
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Meta’s Ray-Ban smart glasses may soon get a display to view notifications and enable interactions
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Meta Ray-Ban glasses.
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Over the past few years, Meta has seen surprising success with its Ray-Ban smart glasses, as it features advanced AI-powered features and can be used for longer hours. However, tech giants like Samsung and Google also introduced the Android XR glasses, which come with a headset and will arrive in 2025. Therefore, to counter this rising competition, Meta is now reportedly planning to add a display to its next generation of smart glasses, which could be released next year. Meta's new glasses may launch in 2025 A new report by The Financial Times suggests that the social media giant is working on adding a screen to its $300 smart glasses, which could be launched by the second half of 2025. The report further adds that this display will provide users with notifications and enable customised interactions with Meta’s AI, marking a significant upgrade from the earlier models. This means that the new screen will support a variety of functionalities, including showing navigation directions, reading notifications from your phone, and more. Currently, Meta’s Ray-Ban smart glass has features like in-ear speakers, cameras, microphones, and AI assistant interactions, and was launched in September. Meta also recently revealed its lightweight augmented reality (AR) glasses prototype, Orion, which has been appreciated by developers. Further, it is expected to move toward consumer release in the future years and has an impressive 70-degree field of view.
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2024-12-24 22:34
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2024-12-24
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22:34
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moneycontrol.com
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https://www.moneycontrol.com/news/india/former-home-secretary-ajay-bhalla-appointed-new-manipur-governor-12897253.html
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Former Home Secretary Ajay Bhalla appointed new Manipur governor
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Ajay Bhalla succeeds Laxman Prasad Acharya, who was assigned additional charge of the violence-hit state..Related stories.
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Former Union Home Secretary Ajay Bhalla was appointed as the new Governor of Manipur on Tuesday, the Rashtrapati Bhavan stated in its order. Bhalla, who retired as the Home Secretary in August 2022, is from the 1984 batch Indian Administrative Service (IAS) officer from the Assam-Meghalaya cadre. Notably, Bhalla held the longest tenure in a crucial post, which is considered next to the country's top bureaucrat — the cabinet secretary. He was succeeded by senior IAS officer Govind Mohan. Ajay Bhalla succeeds Laxman Prasad Acharya, who was assigned additional charge of the violence-hit state. The new appointment comes at a crucial time, as Manipur has faced challenges related to ethnic violence and unrest. As Governor, Bhalla will be expected to navigate the state's delicate political and social landscape, working towards maintaining peace and stability. This move is part of a broader reshuffling of key positions in the country, with the President appointing Governors for five states. VK Singh, a retired Army Chief and former minister in the previous Narendra Modi-led government has been appointed as the new Governor of Mizoram. Meanwhile, the Governors of Kerala and Bihar have swapped positions. Arif Mohammed Khan, the Governor of Kerala, will now serve as the Governor of Bihar, while Rajendra Vishwanath Arlekar, the Governor of Bihar, will take charge of Kerala. The President has accepted the resignation of Shri Raghubar Das as Governor of Odisha. Dr Hari Babu Kambhampati, Governor of Mizoram, has been appointed as the Governor of Odisha in his place.
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2024-12-24 22:33
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2024-12-24
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22:33
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moneycontrol.com
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https://www.moneycontrol.com/news/world/ousted-bangladesh-pm-hasina-s-son-denies-graft-in-12-65-billion-nuclear-deal-12897249.html
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Ousted Bangladesh PM Hasina's son denies graft in $12.65 billion nuclear deal
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Ousted Bangladesh PM Hasina's son denies graft in $12.65 billion nuclear deal.Related stories.
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Ousted Bangladesh Prime Minister Sheikh Hasina's son and adviser on Tuesday described allegations of corruption involving the family in the 2015 awarding of a $12.65 billion nuclear power contract as "completely bogus" and a "smear campaign". Bangladesh's Anti Corruption Commission said on Monday it had launched an enquiry into allegations of corruption, embezzlement and money laundering in the Rooppur Nuclear Power Plant project, backed by Russia's state-owned Rosatom. A deal for two power plants, each with a capacity of 1,200 megawatts, was signed in 2015. The commission has alleged that there were financial irregularities worth about $5 billion involving Hasina, her son Sajeeb Wazed and her niece and British treasury minister Tulip Siddiq, through offshore accounts. Siddiq and Rosatom did not respond to Reuters requests for comment. A spokesperson for British Prime Minister Keir Starmer said Siddiq had denied any involvement in the claims and that he had confidence in her. Siddiq would continue in her role, the spokesperson added. In August, Bangladeshi media quoted Rosatam as rejecting an earlier media allegation of corruption, saying it was "committed to transparent working practices, strict anti-corruption policies, and openness in all procurement processes". Wazed, speaking on behalf of the family, said they were the targets of a political witch hunt in Bangladesh. "These are completely bogus allegations and a smear campaign. My family nor I have ever been involved or taken any money from any government projects," he told Reuters from Washington, where he lives. "It is not possible to siphon off billions from a $10 billion project. We also don't have any offshore accounts. I have been living in the U.S. for 30 years, my aunt and cousins in the UK for a similar amount of time. We obviously have accounts here, but none of us have ever seen that kind of money." Reuters could not contact Hasina, who has not been seen in public since fleeing to New Delhi in early August following a deadly uprising against her in Bangladesh. Since then, an interim government has been running the country. The government in Dhaka said on Monday it had asked India to send Hasina back. New Delhi has confirmed the request but declined further comment. Wazeb said the family had not made a decision on Hasina's return to Bangladesh and that New Delhi had not asked her to seek asylum elsewhere.
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2024-12-24 22:25
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2024-12-24
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22:25
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moneycontrol.com
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https://www.moneycontrol.com/automobile/automotive-to-sustainable-mobility-evs-and-beyond-auto-industry-s-journey-for-2025-article-12897226.html
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Automotive to sustainable mobility, EVs and beyond: Auto industry's journey for 2025
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While electric vehicles remain at the forefront of the journey towards sustainable mobility, the industry, is witnessing louder calls for supporting other technologies like strong hybrids, biofuels, and biogas, besides CNG.Related stories.
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Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR. With India making its presence felt in the global automotive landscape, automakers are expected to showcase their new models with varied powertrain technologies across multiple price points, catering to different sets of customers at the expo as the adoption of environment-friendly cars is slated to gather pace in 2025. While electric vehicles remain at the forefront of the journey towards sustainable mobility, the industry, especially the passenger vehicles (PV) segment, is witnessing louder calls for supporting other technologies like strong hybrids, biofuels, and biogas, besides CNG. However, for consumers, buying a new car or an SUV in 2025 will become an expensive proposition as all the manufacturers, from mass market to luxury, have decided to hike prices from January to partially offset rising input costs. "India is now achieving a global scale. We see immense potential in the long-term growth of the Indian automobile industry," Maruti Suzuki India MD and CEO Hisashi Takeuchi told PTI. The car market leader is looking for accelerated growth in the coming years. "As we embark on the next phase of our growth journey from 2 million to 4 million capacity, we plan to achieve in the next 7-8 years what we accomplished in the last 40 years," he noted. As for 2025, he said the company is looking forward with "immense enthusiasm" to the new year as it gears up to foray into the battery electric vehicle (BEV) segment with the unveiling of eVITARA, a global model manufactured in India for the world. Takeuchi, however, said along with BEVs, Maruti Suzuki India will advance its efforts towards a carbon-neutral society through a multi-pathway approach, including hybrids, CNG, and carbon-neutral fuels like ethanol and biogas. Homegrown Tata Motors, the current leader in electric mobility in the PV segment, is looking to double down on its sustainable mobility drive. "Tata Motors is in a strong position to make the most of key shifts in the industry, from the growing demand for greener, emission-friendly powertrains to safer cars and SUVs," Tata Motors Passenger Vehicles MD Shailesh Chandra said, adding that the company remains optimistic about the growth of the Indian passenger vehicle market in 2025. Further, he said, "In the EV space, we are focused on strengthening our leadership while tapping into the rising opportunities. At the same time, we will stay committed to enhancing customer satisfaction and delivering an exceptional experience at every touchpoint of their journey with us". JSW MG Motor India Chief Commercial Officer Satinder Singh Bajwa said the company aims to make the EV segment more attractive and accessible and will seek to play a crucial role in driving India towards becoming the top global automobile market. "With a significant shift towards electric vehicles, which is expected to grow by threefold in 2025, our focus on NEVs (new energy vehicles) will remain central to our business strategy to make the EV segment more attractive and accessible," he noted. Even as EVs remain at a sweet spot, with a GST rate of 5 per cent, according to Toyota Kirloskar Motor Executive Vice President and Country Head Vikram Gulati, other eco-friendly technologies must also be considered for proportionate tax incentives. "Technology is only a means to achieving the end... You should be supporting all of those technologies in a proportionate manner, to the extent they deliver on societal goals...It can be a hybrid. It can be a plug-in (hybrid). It can be ethanol, it can be CBG (compressed biogas), it can be anything, as long as it meets your goals, it needs to be supported and in a fair, transparent manner," he noted. As sustainable mobility remains an imperative, Kia India Managing Director and CEO Gwanggu Lee said in India, "there are so many alternatives, and it is not only electrification", which, however, has undoubtedly been a big wave. Hybrids, CNG, and alternative fuels like ethanol are technologies that can be considered, he said, adding that as for Kia, being a global brand, it will have to adapt when the market changes in terms of technology. Nonetheless, in the luxury segment, according to market leader Mercedes-Benz India, 2024 has been the best year ever for BEV transition, with the company selling over 800 units in the January-September period, having a penetration of 6 per cent and a growth of 80 per cent. "We expect to continue this BEV adoption in 2025 as well, with new BEVs lined up for launches like the EQS SUV 450 5-Seater and the electric G-Class. We expect BEV adoption to accelerate with more launches and availability of a wider portfolio for customers to choose from," Mercedes-Benz India MD and CEO Santosh Iyer stated. Going by the current macros, the company expects a steady 2025 owing to a favourable business climate, steady earnings and positive consumer sentiments, all reflecting in increased consumption, he added. Expressing similar views, Audi India Head Balbir Singh Dhillon said, "Regarding the overall luxury EV segment - it shows medium to long-term potential. With a growing base of high-net-worth individuals and eco-conscious consumers, there is a strong demand for premium products that align with environmental values". Looking back, 2024 was a year when the PV makers hit speed breakers in sales as the post-pandemic pent-up demand evaporated and the high base of the previous year demanded more effort to make sales grow. The urban market softened even as the rural market helped both entry-level small cars and two-wheelers gain traction. Reflecting on the year gone by, Takeuchi noted that despite several challenges, the company, for the first time, exceeded the 20 lakh production output milestone in a year, "a feat achieved by no other Indian passenger vehicle manufacturer". Commenting on the year gone by, SIAM Director General Rajesh Menon said the passenger vehicle segment continued its steady performance led by sustained demand for SUV segments and good adoption of new energy vehicles, such as electrics, hybrids and gaseous fuel vehicles. The auto industry also made significant strides to introduce newer models and vehicles with alternative power trains like hybrids, electrics, ethanol/flex-fuel vehicles and CNG in 2024, he added. Menon hoped that the newly launched PM E-DRIVE Scheme and PM E-SEWA scheme would ensure wider penetration of electric mobility in the country. As for the automotive component industry, the sector continues to invest in localisation, R&D, digitisation, and sustainability, according to Automotive Component Manufacturers Association (ACMA) President Shradha Suri Marwah. "There remains a pressing need to further strengthen our focus on innovation, global competitiveness and designing in India for the world," she added. Marwah noted that despite global economic uncertainties and changes in the dynamics of vehicle demand, the component industry has shown resilience and adaptability, registering steady growth in both domestic and external markets.
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2024-12-24 21:51
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2024-12-24
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21:51
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moneycontrol.com
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https://www.moneycontrol.com/news/business/economy/no-gst-hike-on-popcorn-will-still-attract-5-tax-in-theatres-when-served-in-loose-form-sources-12897228.html
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No GST hike on popcorn, will still attract 5% tax in theatres when served in loose form: Sources
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This also means that in theatres, popcorn will continue to be taxed at the existing rate of 5 percent when served in loose form.Related stories.
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There has been no increase in goods and services tax (GST) rate on popcorns in the recently held GST Council meeting, and the announcement in the meeting was done to clarify the classification and GST rate applicable on popcorn mixed with salt and spices, according to people in the know. A request was received from Uttar Pradesh to clarify the classification and GST rate applicable on popcorn mixed with salt and spices, which was taken to the Council, they added. “The Council recommended issuance of clarification to facilitate resolution of classification disputes in the field on ready to eat popcorn that is mixed with salt and spices,” they added. This also means that in theatres, popcorn will continue to be taxed at the existing rate of 5 percent when served in loose form, the people added. “Generally, Popcorn is served to customers in theatres in loose form and hence will continue to attract rate of 5% as applicable to ‘restaurant service’ as long as supplied independent of the cinema exhibition service,” they added. The comments come at a time when the GST Council's announcement on December 21 regarding different tax rates on popcornadded to the confusion of exhibitors. GST Council said that ready-to-eat popcorn which is pre-packed and labelled mixed with salt & spices will attract 12 percent tax while caramelised popcorn will attract 18 percent tax. While top multiplex chains like PVR Inox and Miraj Cinemas have clarified no change in tax slabs for any popcorn, including caramel, sold in cinemas, single screen exhibitor Vishek Chauhan told Moneycontrol that caramel popcorn sold in theatres will attract 18 percent GST as against the earlier 5 percent GST. Meanwhile, such varying rates on different types of popcorn are due to the Harmonised System (HS) classification, which is a multipurpose international goods nomenclature developed by the World Customs Organisation (WCO), the people cited above said. "As per the HS classification, sugar confectionary falls under HS 1704 in Chapter 17. All sugar confectionary, other than few specified items, attract 18 percent GST. In India, namkeens are classified under HS 2106 90 99. Namkeens attract 5 percent GST when sold in other than pre-packaged and labelled form and 12 percent GST when sold in pre-packaged and labelled form," they added.
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2024-12-24 21:38
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2024-12-24
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21:38
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/westbridge-capital-backed-indiqube-spaces-files-draft-papers-for-rs-850-crore-ipo-12897218.html
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WestBridge Capital-backed IndiQube Spaces files draft papers for Rs 850-crore IPO
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Rishi Das, Meghna Agarwal-owned IndiQube Spaces files IPO papers.Related stories.
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WestBridge-backed IndiQube Spaces has filed draft red herring prospectus with the capital markets regulator SEBI to raise Rs 850 crore via initial public offering. The IPO comprises of fresh issuance of equity shares worth Rs 750 crore, and an offer-for-sale of Rs 100 crore worth shares by promoters Rishi Das, and Meghna Agarwal. Moneycontrol was the first to report in October thatco-working and managed space operator IndiQube is expected file draft papers for IPO. The Bengaluru-based company, founded by Rishi Das (Chairman, Executive Director and Chief Executive Officer), Meghna Agarwal (Chief Operating Officer and Executive Director), and Anshuman Das (Non-executive Director) in 2015, has roped in investors such as WestBridge, and Ashish Gupta, in the year 2018 and 2019 respectively. Promoters own 70.86 percent shareholding (assuming full conversion of convertible securities), and the remainder 29.14 percent stake is held by public shareholders including investor WestBridge. Click Here To ReadAll IPO News IndiQube may raise up to Rs 150 crore via private placement, rights issue, or preferential offer (pre-IPO placement) before launching the IPO. The fresh issue size will be reduced to the extent of such fund raising, if the pre-IPO placement is completed. The co-working space provider, managing a portfolio of 103 centers across 13 cities (covering 7.76 million square feet of area under management with a total seating capacity of 1,72,451), recorded net loss of Rs 341.5 crore for the fiscal 2024, widening from the loss of Rs 198 crore in the previous fiscal 2023 and Rs 188.4 crore in FY22, impacted by the weak operating margin and sharp increase in other expenses. EBITDA (earnings before interest, tax, depreciation, and amortisation) fell by 4.4 percent on-year to Rs 226.3 crore in the year ended March 2024, with margin declining sharply by 1,357 bps to 27.25 percent compared to FY23. However, revenue during the fiscal 2024 grew by 43.3 percent to Rs 830.6 crore, up from Rs 579.7 crore in FY23. Bengaluru contributed the most, where it has a portfolio of 60 centers spanning 5.04 million square feet in AUM. IndiQube, competing with listed peer Awfis Space Solutions, will spend Rs 462.6 crore out of the fresh issue proceeds for establishment of new centers. Further, Rs 100 crore will be used for repaying debt as it had total borrowings of Rs 227.45 crore, while the remainder funds will be utilised for general corporate purposes. ICICI Securities, and JM Financial are appointed as the book running lead managers for the issue.
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2024-12-24 21:33
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2024-12-24
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21:33
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moneycontrol.com
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https://www.moneycontrol.com/technology/google-tells-us-court-that-it-s-ready-to-change-the-apple-deal-article-12897160.html
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Google tells US court that it's ready to change the Apple deal
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Google.Related stories.
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After winning against Google in an antitrust trial earlier this year, the US Department of Justice (DOJ) proposed a sweeping set of changes to Google to filter its search results on its Chrome browser. The department even suggested that Google should sell its Chrome browser to break its illegal monopoly in online search. However, in a bid to avoid this, Google has put forward its alternative solutions, claiming the DOJ’s recommendations would harm consumers and stifle innovation in the US tech industry. Google offers various solutions to DOJ: Key details Google's regulatory VP, Lee-Anne Mulholland, clarified in a new blog from the company, stating that “DOJ’s proposal would harm American consumers and undermine America’s global technology leadership.” Further, Mulholland expressed concerns that requiring Google to hand over users’ private search data to competitors would erode privacy protection and stifle innovation for its partners such as Apple and Mozilla. Moreover, OEMs who prioritise Google’s services need to make adjustments to their licensing agreements with Android phone manufacturers and contracts with wireless carriers. Google has also called for Android manufacturers and Apple to be given more flexibility to pre-install multiple search engines, as well as Google applications, without having to include Google Search or Chrome. "Our proposal means device makers have additional flexibility in preloading multiple search engines, and preloading any Google app independently of preloading Search or Chrome. Again, this will give our partners additional flexibility and our rivals like Microsoft more chances to bid for placement," said Mulholland in a blog post. The ruling by DOJ concerning remedies is expected to happen in 2025, with a hearing set in April. Google also has plans to appeal the previous ruling, but the search giant first needs to negotiate these remedies in the ongoing legal process.
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2024-12-24 21:30
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2024-12-24
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21:30
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moneycontrol.com
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https://www.moneycontrol.com/technology/ipl-panchayat-politics-and-other-top-trends-in-2024-this-is-what-indians-searched-the-most-on-google-article-12897227.html
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IPL, Panchayat, politics and other top trends in 2024: This is what Indians searched the most on Google
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google.
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India’s search trends for 2024 reflected a mix of curiosity, practicality, and entertainment preferences. Sports, politics, entertainment, and global issues dominated the Google Year in Search report. Sports and political interests The Indian Premier League (IPL) led the sports-related searches, followed by the T20 World Cup, Pro Kabaddi League, and the Indian Super League. The Olympics also featured prominently. Political interest was evident, with searches for the Bharatiya Janata Party, Indian National Congress, and Election Results 2024 ranking high. Queries about voting, such as “How to vote Lok Sabha,” were among the top “How To” searches. Entertainment and music Trends Entertainment searches spanned genres, languages, and formats. Stree 2 topped movie searches, while films like Hanu-man and Kalki gained attention. Shows like Heeramandi and Mirzapur were popular, alongside slice-of-life dramas like Panchayat and Kota Factory. International entertainment, including The Last of Us and K-dramas like Queen of Tears, also gained traction. Music searches showcased interest in indie songs like Nadaaniyan and Husn, while older songs like Ye Tune Kya Kiya and Yeh Raaten Yeh Mausam saw a resurgence. Memes, Lingo, and relationships Memes and quirky terms played a significant role in search trends. The “Orange Peel Theory” meme led relationship-related searches, while the “Blue Grinch Knee Surgery” meme brought humour. Workplace-related memes, such as the “Gen Z Boss” meme, highlighted workplace behaviours. New lingo like “Pookie” and “Moye Moye” generated curiosity. Practical and global concerns Practical queries included searches related to air quality, with “AQI near me” trending alongside weather-related searches like “excessive heat.” Globally, the Palestine conflict prompted searches such as “All Eyes on Rafah.” Travel-related curiosity was evident with Azerbaijan emerging as a trending topic.
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2024-12-24 21:15
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2024-12-24
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21:15
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moneycontrol.com
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https://www.moneycontrol.com/news/india/5-soldiers-dead-8-injured-as-army-vehicle-falls-into-300-feet-gorge-in-j-k-s-poonch-12897212.html
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5 soldiers killed, 8 injured as Army vehicle falls into 300-feet gorge in J&K's Poonch
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The Army vehicle fell into a 300-feet deep gorge. (Image: X).
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Five soldiers were killed, and eight others were injured in an accident when an Army vehicle carrying them skidded off the road and rolled into a gorge in Jammu and Kashmir's Poonch district on Tuesday evening. The accident occurred during the operational duty in the Gharoa area when the vehicle was on its way to Banoi in the district, reported PTI. The Army vehicle fell into a gorge approximately 300-350 feet deep. The rescue operation is now under control; teams have recovered five bodies and are providing treatment to the injured personnel. "All ranks of White Knight Corps extend their deepest condolences on the tragic loss of five brave soldiers in a vehicle accident during operational duty in the Poonch sector," White Knight Corps posted on X.
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2024-12-24 20:42
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2024-12-24
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20:42
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moneycontrol.com
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https://www.moneycontrol.com/news/business/how-will-18-gst-on-all-used-cars-including-evs-work-12897189.html
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How will 18% GST on all used cars, including EVs work?
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FM Nirmala Sitharaman.Related stories.
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The GST council, on December 21, clarified that the tax rates on all used cars, including electric vehicles will be 18 percent now. A GST of 18 percent was already applicable on sale of old and used petrol vehicles of engine capacity of 1200 cc or more and length of 4000 mm or more as well as diesel vehicles of engine capacity of 1500 cc or more and of length of 4000 mm and SUVs (sport utility vehicle). To be sure, the revised tax rates will only apply to vehicles bought by businesses and on the value that represents the margin of a supplier (difference between the purchase price and selling price, including depreciated value if benefits claimed), and not when such an exchange happens between individuals. Individuals buying and selling old vehicles will still continue to be taxed at 12 percent. Following this, several stakeholders raised concerns over what was perceived as a hike in the GST rate for used cars. Many experts pointed out that this could lead to a slowdown in sales in this segment. Moneycontrolreported on December 23that India’s $32-billion pre-owned cars market is expected to witness a slowdown after GST Council's decision. “In a country with single-digit car ownership, policies that impact affordability, like the recent GST hike, can unintentionally slow down this progress,” said Vikram Chopra, co-founder and CEO of online used car marketplace Cars24. What does the Council's decision mean? A registered person that has claimed depreciation under Section 32 of the Income Tax Act 1961, GST is payable only on the value representing the margin of the supplier, which is the difference between consideration received for the supply of such goods and the depreciated value of such goods on the date of supply. Where such margin is negative, no GST is payable. In any other cases, GST is payable only on the value that represents the margin of the supplier, which is the difference between selling price and the purchase price. Again, where such margin is negative, no GST is payable. Take for example, a registered person is selling an old and used vehicle to any person at Rs 10 lakh, where the purchase price of the vehicle was Rs 20 lakh and has claimed depreciation of Rs 8 lakh on the same under Income Tax Act, then that individual is not required to pay any GST, since the difference in value of the selling price and the depreciated value is negative. In case the depreciated value in the above example remains same at Rs 12 lakh and the selling price is Rs 15 lakh, in that case GST will be payable on the margin of the supplier, which is a GST of 18 percent on Rs 3 lakh. In another scenario, a registered person is selling an old and used vehicle to any person at Rs 10 lakh, where the purchase price of the vehicle by the registered person was Rs 12 lakh, then the person is not required to pay any GST as the margin of the supplier is negative in this case. In cases where the purchase price of the vehicle was Rs 20 lakh and the selling price is Rs 22 lakh, GST will be payable on the margin of supplier that is Rs 2 lakh.
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2024-12-24 20:41
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2024-12-24
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20:41
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moneycontrol.com
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https://www.moneycontrol.com/entertainment/malaika-arora-talks-about-financial-stability-in-a-marriage-says-independent-rakho-baba-jo-tera-hai-voh-article-12897184.html
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Malaika Arora talks about financial stability in a marriage, says, "Independent rakho baba, Jo tera hai voh..."
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Malaika Arora.Related stories.
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Malaika Arora, who has experienced both marriage and divorce with actor-producer Arbaaz Khan, recently shared some insightful advice for married women and those considering marriage. In a candid interview, she emphasized the significance of maintaining one's individual identity within a marriage. She stressed that it is crucial for women to preserve their sense of self, interests, and personal aspirations, even after becoming a part of a marital union. This, according to her, ensures a healthy relationship and personal growth. Malaika further highlighted that self-love and independence are key to sustaining any partnership. While having a conversation with Curly Tales, Malaika Arora stressed the importance for women to retain their financial independence by keeping their finances separate from their partner’s after marriage. Malaika Arora mentioned, "Independent rakho baba (Be independent). Jo tera hai voh tera hai, jo mera hai voh mera hai (What is yours is yours, and what is mine is mine). I mean, when you get married or you’re with someone, you try to infuse… you know, try to fuse a situation where you want to make everything one. But I feel it’s very important to have your own identity," She went on to say, "It’s good that you’re doing things together but that doesn’t mean you kind of give up your entire identity and take on someone else’s. As it is you’re taking on somebody else’s last name, right? So I think the least you can do is hang on to your own bank account." Malaika Arora’s personal life has frequently attracted media attention, particularly her marriage to Arbaaz Khan and her ongoing relationship with Arjun Kapoor, which have been subjects of constant public scrutiny. Also Read:Kartik Aaryan thanks fans in Chennai after winning best actor award Arbaaz and Malaika were married for nearly 20 years before separating and finalizing their divorce in 2017. They have a son, Arhaan, together. Malaika began her relationship with Arjun Kapoor in 2016, and it was only recently revealed that they have ended their long-term relationship. Arbaaz Khan married makeup artist Sshura Khan in December 2023. There are rumors suggesting that Malaika Arora is dating fashion stylist Rahul Vijay, with the two attending an AP Dhillon concert together recently in Mumbai.
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2024-12-24 20:36
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2024-12-24
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20:36
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moneycontrol.com
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https://www.moneycontrol.com/news/india/delhi-police-to-deploy-force-around-churches-on-christmas-issues-traffic-advisory-12897198.html
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Delhi Police to deploy force around churches on Christmas, issues traffic advisory
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Delhi Police to deploy force around churches on Christmas, issues traffic advisory.
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Delhi Traffic Police on Tuesday said it has made "adequate" arrangements to deal with the rowdy elements during the Christmas celebrations in the national capital. An officer said deployments have been made near churches, malls, and markets."Apart from this, a drive against drunken driving will be carried out till New Year," the officer said.Another officer said, "We saw less number of people thronging to the Sacred Heart Cathedral near the Gol Dak Khana last year. However, we have deployed sufficient personnel in the area. They will keep clear the traffic for a smooth movement in the area." Churches in the city expecting a heavy congregation of devotees include the Sacred Heart Cathedral, St Thomas church (Mandir Marg), St Martin's church (Delhi Cantonment), St Thomas church (R K Puram), and St Mary's Knanaya church (Vasant Kunj), police said.They said traffic will be diverted on stretches according to the need.A large number of people are expected to assemble at Select City Mall, Saket, where traffic will be restricted on certain roads, a police advisory said.Traffic diversion will begin at 2 pm Wednesday.At the Sheikh Sarai to Hauz Rani stretch, all median cuts will remain closed. Heavy vehicles and DTC/cluster buses will not be allowed on both carriageways of Press Enclave Road, it said.Commuters moving from Chirag Delhi to Qutub Minar via Press Enclave Road are advised to use Khanpur Red Light T Point via MB Road to Mehrauli. Traffic coming from IIT Flyover to PTS going towards Press Enclave Road is advised to continue on Aurbindo Marg towards Mehrauli and use TB Hospital Road Red Light to Lado Sarai via MB Road, it said.No public transport buses will be allowed to go to Pushp Vihar from MB Road/Asian Market Red Light, the advisory said.
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2024-12-24 20:10
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2024-12-24
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20:10
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/sebi-calls-out-investment-advisor-on-its-cock-and-bull-story-issues-fine-of-rs-19-lakh-12897201.html
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SEBI calls out Investment Advisor on its "cock and bull story", issues fine of Rs 19 lakh
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Though the IA tried to distance itself initially from SSFPS, the regulator found various overlaps in their operations..Related stories.
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An investment advisor (IA) who connived with an unregistered investment advisory "to dupe" clients has been called out by the market regulator for its "cock and bull story". The IA named Sai Proficient Research Investment Advisory tried to claim that the violations were done by another unregistered entity named Shree Sai Proficient Financial Services (SSPFS) and that the investor-clients' complaints were fake and fabricated. But the market regulator found that the IA had attempted to refund money supposedly collected by the unregistered entity, and uncovered various overlaps between the operations of the IA and SSPFS. In an order dated December 24, the Securities and Exchange Board of India's (SEBI's) Adjudicating Officer Barnali Mukherjee wrote, "it is nothing but Noticee’s (Sai Proficient's) cock and bull story to cover up the allegations on it and an afterthought to absolve itself from the allegations of its collusion and acting in connivance with SSPFS, using SSPFS as a camouflage to lure the people into its net." Also read:RA tries to get around various regulations with single disclaimer; SEBI disagrees, issues fine The regulator fined the IA (registration number:INA000002504), whose proprietor is Meeshika Vishwakarma, Rs 19 lakhs. One of the allegations was that the investment advisory was it promised assured returns and received money from an unregistered investment advisory. When investigating this, the regulator found that the entity SSPFS was sending emails to the public in the IA's name and using the IA's registration number, was offering assured returns and was collecting money in the latter's name. SSFPS had used the IA's name when registering with the payment gateway, so clients were getting a payment confirmation in the IA's name and were further misled. Though the IA tried to distance itself initially from SSFPS, the regulator found various overlaps in their operations. For example, when a client asked SSFPS for a refund, proprietor of the the registered IA Meeshika Vishwakarma responded to that request from her SEBI-registered email IA; and there were various banking transactions between SSFPS and the registered IA. The SEBI order noted, "the aforementioned alleged activities of SSPFS of using SEBI registered entity’s name, website for collecting money from clients, is a fraudulent activity andknowing fully well that SSPFS does not have requisite registration from SEBI, Noticee (the registered IA) had allegedly allowed SSPFS to act on its behalf". It added, "Both the Noticee and SSPFS and their respective Proprietors namely Ms. Meeshika Vishwakarma and Ms. Madhuri Garg in connivance had allegedly deceived the general public that they were dealing with a registered intermediary of SEBI."
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2024-12-24 20:01
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2024-12-24
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20:01
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moneycontrol.com
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https://www.moneycontrol.com/news/india/grap-4-revoked-in-delhi-as-aqi-improves-stage-3-restrictions-to-continue-12897196.html
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GRAP-4 revoked in Delhi as AQI improves, stage-3 restrictions to continue
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Measures under stages 1, 2 and 3 will remain in force to manage pollution levels in Delhi-NCR. (Image: PTI).Related stories.
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The Commission for Air Quality Management (CAQM) on Tuesday revoked stage 4 of the Graded Response Action Plan (GRAP) in the Delhi-NCR region following the improvement in air quality levels, reported ANI. However, measures under stages 1, 2 and 3 will remain in force to manage pollution levels. The decision was taken after Delhi's Air Quality Index (AQI) significantly improved to 369 (very poor) at 4 pm on Tuesday. In line with the Supreme Court's directives, stage 4 GRAP was invoked on December 16 after the AQI was recorded at 401 (severe). The improvement in air quality was attributed to favourable metrological conditions, including improved wind speed, as per the air quality and weather forecast provided by the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology (IITM). Measures outlined in GRAP-4 encompass a prohibition on all construction activities, the restriction of non-essential polluting trucks from entering Delhi, and the mandatory transition of school classes—excluding classes 10 and 12—to a hybrid mode. The Graded Response Action Plan is a series of emergency measures established in the national capital region to address air pollution, tailored to the severity of the Air Quality Index. The GRAP, a framework to tackle Delhi's winter pollution, classifies air quality into four stages: 4Stage I (Poor, AQI 201-300), Stage II (Very Poor, AQI 301-400), Stage III (Severe, AQI 401-450), and Stage IV (Severe Plus, AQI above 450).
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2024-12-24 19:49
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2024-12-24
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19:49
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/unimech-aerospace-ipo-sees-9-09-times-subscription-on-day-2-gmp-skyrockets-12897193.html
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Unimech Aerospace IPO sees 9.09 times subscription on day 2, GMP skyrockets
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Unimech Aerospace IPO.Related stories.
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Unimech Aerospace and Manufacturing's initial public offering continued to attract strong demand from investors, closing the second day with 9.09 times subscription on December 24 despite bearish sentiment in the equity markets. Theengineering solutions providerlaunched its maiden public issue on December 23 to raise Rs 500 crore, which comprises a fresh issue and an offer-for-sale of equity shares worth Rs 250 crore each. The price band for the offer is Rs 745-785 per share. Investors have applied for 4.27 crore equity shares compared to the offer size of 47.04 lakh shares, the subscription data on exchanges showed. All categories of investors showed healthy interest in the issue, which seems to be resulting in strong grey market premium. Non-institutional investors bid 12.07 times their allotted quota, and retail investors' reserved portion was booked 10.30 times, while qualified institutional buyers bought 4.64 times the part set aside for them. Click here to readall IPO news Employees picked 15.56 times their reserved portion.Unimechhas reserved Rs 1.5 crore worth shares for its employees. Unimech Aerospace IPOshares were available at more than 60 percent premium over the upper price band in the grey market, an unofficial market for trading in IPO shares till the listing, the market observers said. The Karnataka-basedengineering solutions companyspecialising in manufacturing and supply of aero tooling, ground support equipment, electro-mechanical sub-assemblies and other precision engineered components for aerospace, defence, energy, and semiconductor industries. It has an order book of Rs 80.75 crore, with a delivery timeline ranging between 4 to 16 weeks. Unimech Aerospacethat competes with listed entities like MTAR Technologies, Azad Engineering, Paras Defence, Data Patterns, and Dynamatic Technologies will utilise fresh issue proceeds for expansion through purchase of machineries and equipment, working capital requirements, repaying debt, and general corporate purposes. Thepublic issuewill close on December 26, while trading in its equity shares on the bourses will commence effective December 31.
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2024-12-24 19:48
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2024-12-24
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19:48
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/bulk-deals-lic-mf-aditya-birla-sun-life-buys-stakes-in-manorama-industries-12897171.html
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Bulk deals: LIC MF, Aditya Birla Sun Life buys stakes in Manorama Industries
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representative image.Related stories.
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LIC Mutual Fund bought a 1.2 percent stake in Manorama Industries for an average price of Rs 1,100 per share via a bulk deal on December 24. It bought around 7.2 lakh shares in the company. Aditya Birla Sun Life Mutual Fund bought 8.1 lakh shares in Manorama Industries for an average price of Rs 1,100 per share. Promoter Ayush Kacholia sold 4.1 lakh shares in Shanti Overseas for an average price of Rs 16.3 per share, while Karuna Kacholia sold 5.6 lakh shares for an average price of Rs 15.63 per share. Shanti Overseas shares closed 6.17 percent higher at Rs 15.9 on the National Stock Exchange. The company manufactures and trades agricultural commodities like soyabean. India Emerging Giants Fund Limited bought 2 lakh shares in R M Drip and Sprinklers Systems for an average price of Rs 375.38 per share. R M Drip and Sprinklers Systems designs and manufactures micro irrigation equipments. The company also assists farmers in designing and installation of its sprinklers and drip irrigation systems. Block deals Various transactions also took place via block deals. LIC Mutual Fund purchased 7.27 lakh shares in Manorama Industries, while Aditya Birla Sun Life Mutual Fund also bought 8.18 lakh shares and Bank of India Mutual Fund purchased 2.72 lakh shares. Promoters Ritu Saraf, Shrey Ashish Saraf, Vinita Ashish Saraf and Agastya Saraf were the sellers.
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2024-12-24 19:37
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2024-12-24
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19:37
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/diis-net-buy-shares-worth-rs-2-819-crore-fiis-net-sell-rs-2-454-crore-12897163.html
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DIIs net buy shares worth Rs 2,819 crore, FIIs net sell Rs 2,454 crore
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At close, the Sensex was down 67.30 points or 0.09 percent at 78,472.87, and the Nifty was down 25.80 points or 0.11 percent at 23,727.65.
At close, the Sensex was down 67.30 points or 0.09 percent at 78,472.87, and the Nifty was down 25.80 points or 0.11 percent at 23,727.65..Related stories.
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Domestic institutional investors (DIIs) net bought shares worth Rs 2,819 crore, while foreign institutional investors (FIIs) net sold shares worth Rs 2,454 crore, provisional data from NSE showed. During the trading session, DIIs bought Rs 10,514 crore and sold shares worth Rs 7,695 crore, and FIIs purchased Rs 4,933 crore in shares while offloading equities worth Rs 7,387 crore. For the year so far, FIIs have net sold Rs 3.06 lakh crore worth of shares, while DIIs have net bought Rs 5.97 lakh crore. Also read:Taking Stock: Sensex, Nifty end flat amid volatility; auto, FMCG rally while metals drag Market View At close, the Sensex was down 67.30 points or 0.09 percent at 78,472.87, and the Nifty was down 25.80 points or 0.11 percent at 23,727.65. Power Grid Corp, JSW Steel, SBI Life Insurance, Titan Company and SBI were among major losers on the Nifty, while gainers were Tata Motors, Adani Enterprises, Eicher Motors, BPCL and ITC. Among sectors, buying was seen in the auto, FMCG, oil & gas, while selling was seen in the IT, media, metal, PSU Bank. According to Shrikant Chouhan, Head Equity Research, Kotak Securities, the current market texture is non-directional, as traders seem to be waiting for a breakout in either direction. "On the upside, 23850/78800 would be the immediate breakout level for the bulls. If surpassed, the market could rally up to 23950-24000/79100-79300. Conversely, selling pressure is likely to accelerate below 23600/78200, with the market potentially slipping to 23500-23475/78000-77800," he said.
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2024-12-24 19:26
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2024-12-24
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19:26
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moneycontrol.com
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https://www.moneycontrol.com/news/business/economy/india-s-unincorporated-sector-added-8-million-more-establishments-10-million-more-workers-in-2023-24-12897169.html
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India’s unincorporated sector added 8 million more establishments, 10 million more workers in 2023-24
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More jobs in unincorporated sector in 2023-24.Related stories.
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Unincorporated enterprises grew at a faster clip than the country in 2023-24 (October-September), according to the results of the annual survey released by the government on December 24. India’s unorganised enterprises, which also capture the activity of the informal economy, recorded a 16.5 percent growth compared with the previous year compared with 15.1 percent in the previous year, as the economy picked up the pace to 7.1 percent in the October-September period compared with 6.7 percent during the similar period during the last fiscal. “This data shows the lagged effect of growth spurt. Various policy initiatives were supportive of entrepreneurship. Govt initiatives on start-up and stand-up India during Covid has allowed enterprises to grow,” chief economic advisor V Anantha Nageswaran said, addressing the media at the release of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) by Ministry of Statistics and Programme Implementation (MoSPI). ASUSE data shows a 12.8 percent increase in establishments and a 10 percent increase in employment during this period. MoSPI secretary Saurabh Garg also noted an increase in labour productivity as well, as gross value added per worker registered a 5.6 percent increase to Rs 1.5 lakh from Rs 1.42 lakh in 2022-23. “There are now 7.4 crore establishments, and over 12 crore people are employed. Productivity of enterprises is also increasing,” Garg said. Wages in the unincorporated sector sector grew 13 percent, with manufacturing wages rising 16 percent. The survey tracks the performance of the economy across manufacturing, trade and other services. The other services sector grew faster at 26.2 percent, while trade expanded by 12.8 percent and manufacturing grew at 5.4 percent. However, the GVA per establishment of other services and manufacturing in urban areas contracted in 2023-24. “If you have growth in new establishments, then they would take longer to achieve full capacity utilisation and value generation, which explains slight decline in manufacturing and other services in urban areas," CEA said. The 2023-24 version of the survey also comes with a new methodology as it incorporates tuition teachers, housemaids, gardeners and cooks. More digital, more women The data also indicates a push for digital among unincorporated sector enterprises. “The digital economy is increasing, and the expansion of digital public infra is showing. Nearly 27% of businesses use the internet, female-owned establishments have also increased,” Garg highlighted. The number of establishments using internet went up from 21 percent in 2022-23 to 26.7 percent in 2023-24, while female-led establishments rose to 26.2 percent from 22.9 percent in 2022-23.
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2024-12-24 19:22
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2024-12-24
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19:22
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moneycontrol.com
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https://www.moneycontrol.com/technology/xiaomi-announces-xplorers-program-with-up-to-rs-1-lakh-rewards-all-the-details-article-12896736.html
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Xiaomi announces Xplorers Program with up to Rs 1 lakh rewards: All the details
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Xiaomi Xplorer.Related stories.
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Xiaomi India has introduced the ‘Xiaomi Xplorers’ program, offering participants the chance to earn rewards worth up to Rs 1 lakh and a smart home makeover. The initiative spans 100 days, featuring 100 challenges designed around the newly launched Redmi Note 14 Pro+ 5G smartphone. Registration details The program's registration window is open until December 25, 2024. Interested individuals can register through www.xiaomixplorers.com by answering a set of questions. Xiaomi will announce the names of the 100 selected participants on its social media channels by the end of December 2024. Rewards Fourteen participants who excel in the challenges will receive prizes worth Rs 1 lakh each. The top-performing participant will also win an exclusive Xiaomi Smart Home Makeover, featuring a complete transformation using Xiaomi’s smart home solutions. Program highlights The ‘Xiaomi Xplorers’ program focuses on encouraging participants to use the Redmi Note 14 Pro+ 5G’s features to complete the challenges. It aims to showcase how the smartphone can enable creative expression and exploration. Important dates to remember• Registration Deadline: December 25, 2024• Announcement of Selected Participants: End of December 2024• Program Duration: 100 days with 100 challenges Participants must complete the challenges using the Redmi Note 14 Pro+ 5G and share their outputs to compete for rewards. How to register To join the program, visit the official website at www.xiaomixplorers.com and submit your application. Successful applicants will be notified via Xiaomi’s social media platforms.
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2024-12-24 19:21
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2024-12-24
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19:21
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moneycontrol.com
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https://www.moneycontrol.com/news/business/economy/rbi-december-bulletin-says-growth-indicators-showing-economic-recovery-12897172.html
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RBI December bulletin says growth indicators showing economic recovery
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The global economy continues to exhibit resilience with steady growth and moderating inflation: RBI December bulletin.Related stories.
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Easing food prices helped moderate the CPI inflation for November to 5.5%, and with Rabi sowing on track, prospects of agriculture as well as rural consumption are looking up, Reserve Bank of India's latest monthly bulletin released on December 24 said. The bulletin added that the economy is recovering from a loss in momentum seen in the September quarter. The recovery in growth has been helped by a strong festive activity as well as sustained rural demand, said Reserve Bank of India. "High frequency indicators (HFIs) for the third quarter of 2024-25 indicate that the Indian economy is recovering from the slowdown in momentum witnessed in Q2, driven by strong festival activity and a sustained upswing in rural demand," the State of the Economy bulletin said. The GDP growth rate had slowed down to a seven-quarter low of 5.4% during the September quarter of this fiscal. "On the consumption front, FMCG companies attributing the muted demand to urban sluggishness on concerns about food inflation believe that the slowdown has bottomed out and stabilising as it awaits an upward spiral," the State of the Economy report said. "Positives for consumption are also reflected in reports highlighting a pick-up in new hiring, likely being driven by sectors such as logistics, EVs and EV infrastructure, agriculture and agrochemicals, and e-commerce," the report added. On government finances, RBI's article said Centre’s revenue collections have been buoyant in H1FY25, but there is a slack in the capital expenditure. It also mentioned that several States have announced sops in their 2024-25 Budgets, which 'may divert resources away' from critical social and economic infrastructure development.
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2024-12-24 19:14
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2024-12-24
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19:14
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moneycontrol.com
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https://www.moneycontrol.com/news/india/heavy-snowfall-brings-himachal-to-a-halt-amid-orange-alert-177-roads-closed-four-dead-12897180.html
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Heavy snowfall brings Himachal to a halt amid orange alert: 177 roads closed, four dead
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Tourists take a stroll after fresh snowfall, in Shimla on Monday. (Image: PTI).
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Due to heavy snowfall in several districts of Himachal Pradesh, at least 177 roads, including three national highways, were closed on Tuesday. Snowfall was recorded in the Kinnaur, Lahaul-Spiti, and the higher reaches of Shimla, Kullu, Mandi, Chamba, and Sirmaur districts. In the last 24 hours, four people lost their lives in accidents and several suffered injuries due to vehicles skidding in some places, reported PTI. The administration has yet to share details about the victims. About 174 roads and three national highways were closed, leaving around 500 vehicles—including 300-plus buses—stranded. Traffic on the national highways connecting Attari to Leh, Sanj to Aut in Kullu district, Khab Sangam in Kinnaur district, and Gramphoo in Lahaul and Spiti district has been halted. The State Emergency Operation Centre said a maximum of 89 roads were closed in Shimla, 44 in Kinnaur, and 25 in Mandi. Some areas were without electricity after 683 transformers stopped working. Additional Chief Secretary (Revenue and Disaster) Onkar Sharma has advised the tourists to adhere to the advisories issued by the district administration and the police, listen to suggestions from locals and refrain from driving in the snow. December snow is considered good for apples as it provides moisture to the soil. Public Works Minister Vikramaditya Singh told reporters that the snowfall will also boost tourism. Singh, who reviewed the road situation with officials, said a tourist influx was expected in Shimla, Kullu-Manali and Dalhousie as people have come to spend Christmas and New Year. The department is ready to handle the tourist influx. Around 268 machinery, including two snow blowers, have been deployed to clear the roads, he said. Shimla Hotel and Tourism Stakeholders' Association president MK Seth quoted in a PTI report, said that hotel occupancy in Shimla stood at more than 70 per cent, which is 30 per cent above normal. Khadrala received 24 cm of snow, followed by Sangla (16.5 cm), Shillaro (15.3 cm), Chopal and Jubbal (15 cm each), Kalpa (13.7 cm), Nichar (10 cm), Shimla (7 cm), Pooh (6 cm) and Jot (5 cm). Snowfall was also witnessed in the suburbs of Manali and Dalhousie since Monday, while a few places in the mid and lower hills received light rain. The IMD has predicted rain and snow at isolated places in some parts of the state, and Shimla, in particular, from Friday evening to Sunday afternoon, with the precipitation peaking on Saturday. An intense cold wave persisted in the lower hills of Mandi, while a cold wave was witnessed in Una and Chamba. The dense, moderate and shallow fog was witnessed in Bilaspur, Sundernagar and Mandi, respectively, the Met office said. IMD has issued an 'orange' warning for severe cold in Bilaspur, Una, Hamirpur and Mandi and a 'yellow' warning for dense fog over parts of the Bhakra dam reservoir area and the Balh Valley in Mandi till Thursday. Kukumseri in Lahaul and Spiti district was the coldest in the state, recording a night temperature of minus 6.9 degrees Celsius.
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2024-12-24 19:07
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2024-12-24
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19:07
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moneycontrol.com
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https://www.moneycontrol.com/budget/pursue-divestment-aggressively-simplify-gst-implement-schemes-in-labour-intensive-sectors-rajiv-memani-chairman-ey-india-article-12897181.html
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Pursue divestment aggressively, simplify GST, implement schemes in labour intensive sectors: Rajiv Memani, Chairman, EY India
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Pursue divestment aggressively, simplify GST, implement schemes in labour intensive sectors: Rajiv Memani, Chairman, EY India.Related stories.
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EY India Chairman Rajiv Memani stresses on divestment, reducing tax disputes, and targeted schemes in labour-intensive sectors to drive economic growth and reforms in the upcoming Union Budget. The upcomingUnion Budgetpresents the Modi government with an opportunity to advance the narrative of economic stability by focusing on lowering tax rates, adopting a more proactive stance on addressing low-cost imports from China, simplifying GST, and implementing additional schemes in labour intensive sectors. Rajiv Memani, Chairman, EY India tells Moneycontrol that the government needs to take a more aggressive stance on disinvestment which could give it more fiscal space and create greater room for capex. Edited excerpts: What are the big events that stood out for you in 2024 and what would you like to see changed in 2025? I would say at a high level, 2024 has been, in terms of economic policy, a continuation of what we have seen in the earlier years. From a government standpoint, I think their focus on macroeconomic discipline, whenever they get an opportunity to reduce the fiscal deficit, that has been there. You know, the reform journey continues and the broad themes under which reforms are being carried on continue. Some of which, I think, the government has been more effective in implementing and some of them probably because of either political issues or maybe it'll take more time to get some of them implemented. I think one can question the speed of implementation. One thing that happened in 2024, the big event in India was obviously the elections. And the elections had an impact on the economic growth, as is visible in the last quarter's GDP growth numbers. A lot of Indian economy spend was being front-ended by government capex. I think the great thing that this government did was really to, you know, enlarge the quality of fiscal deficit, really improved as more and more of that money was being spent for capex. A few months, two or three months before the elections, I think that capex started slowing down as most people were anticipating. But it took more time to pick up than what people thought it will. Part of it was also to do with the seasonality issues that we had, which was a very long summer and a very long monsoon, an intense monsoon. So I think that caused the delay because of which I think the capex spent slowed. So I would say overall, you know, from a government standpoint, the broad themes of macroeconomic discipline, of ensuring that the banking sector continues to be well protected, big focus on inflation, because that has an impact. And that balance between inflation and growth is a matter of debate. Ensuring that Atmanirbhar Bharat is constantly getting more and more encouragement, looking at building out the India stack more and more on technology. I think those things broadly kind of continued. In 2025, any big changes that you're hoping for? Because we also saw that consumption has not really picked up. Private investment continues to be a bit subdued. What are you banking on to see this turn in 2025? Yeah, I think for 2025, at least my view is that once the government capex starts playing out, the economic growth should accelerate. There is a lot of bullishness in the US from an economic standpoint. So hopefully that will also have a positive spillover effect in some sectors in India. I do hope that we start seeing some signs of interest rate reduction, although it's not easy to predict. But this challenge of inflation really being caused by agri products, food products, so much more supply on the agri side, you know, how does interest rate play in that? Because eventually, that's what is impacting consumption. And I do hope that manufacturing starts picking up in a more and more meaningful way. We are seeing early signs, especially in sectors like electronics, defence, engineering. I think things are playing out. But I would say even more and more on labour intensive sectors, if we can see more action on the manufacturing side, I think things should look up well. I think the technology sector should be doing better than what it did last year because of the uptake, especially in the US, which is the largest part of the demand side from a technology sector viewpoint. So I would say that the thing one would want to see change is the government taking more steps on the manufacturing side. But the acceleration is slightly slowed down because of the activity coming in from China. And if the government, I would say, takes a more proactive stance on how do you deal with, you know, low-cost imports that come from China, whether in terms of anti-dumping or anything else. I think that will help, once there is clarity on that policy. I think that will help in encouraging more and more large-scale private investment, especially in sectors like steel. If we can make some more reforms, realise schemes in labour intensive sectors, employment linked incentives. I think that is the other thing because eventually, I think the more employment we can create in India, the greater will be the economic activity. So I would say, those two, three things. And if we can probably have a more aggressive stance on disinvestment, that gives more fiscal space to the government and in some ways also helps in creating greater room for capex spend by the government, reducing the fiscal deficit, and therefore having a more positive impact on interest rates and capital availability with the private sector. You said that there's a need to focus on manufacturing. Do you think the business environment in India at the moment is conducive? Is there enough ease of doing business? Is there enough stability in the taxation regime that companies would be interested and they would get the return that they would hope for by expanding their manufacturing capacities? Yeah, I would say these are not moments where you feel you have achieved something, but I would say if you compare it with stability in taxation over a period of the last three years, I would say things have definitely improved. On ease of doing business, things have definitely improved. Now, there's much to go there. Still has a lot of room to improve, but definitely, things are moving in the right direction. Are people getting the right returns on manufacturing? Yeah, I think there is a muscle memory of on ease of doing business, on manufacturing in India that because of which sometimes especially from a foreign direct investment standpoint, things get stalled. So if I look from a domestic standpoint, I think it's much more demanding. It's not so much to do with taxation, ease of doing business and everything. It's much more on how they see demand. In terms of FDI, that's where ease of doing business comes in a more bigger way. For domestic business, ease of doing business slows down the expansion because land acquisition is going to take so much of time and everything, it slows down the speed and sometimes adds to the cost. But it's in FDI, which has been constant over the last three, four to five years, almost stagnant, big number, but stagnant number. I think there are things like, you know, how proactive are we from a taxation standpoint in providing comfort in some areas? And also ease of doing business whether it's in terms of enforcement of contracts, acquisition of land, or number of approvals that have to be taken. I think if we can find a way that it can be speeded and this is both Centre and states, then it will further give greater impetus to those multinational companies that have set up manufacturing in India or Indian companies. I think returns are generally quite good. Do you think there's a case to give demand a push in the coming Budget, like a direct push in this Budget? Is that something that the government should be looking at seriously? The big question in this is how? So I mean, the government’s view is that if you do anything to give a push that will stick on, it's not something that will go away. So, for example, during Covid when subsidy was given, food subsidy of 10 kg, once Covid was over, it was very difficult to withdraw that. Okay, 10 kg became 5 kg, but it becomes very difficult to withdraw the grain subsidy. So anything that the government does, I think they are very mindful that once they provide it, it's very difficult to pull back. So if you make such a large provision and you're on a fiscal deficit like path, which is to go down, then I think it becomes difficult. But I definitely think that if they can reduce at least in the lower income bracket, if they can reduce the income tax, a personal income tax rate, I think it creates a little bit more, you know, demand impetus. If they can give —if we can look at more simplification and rationalisation in GST rates, at least for some products. For example, there's no reason why some product like cement — I mean, I don't want to talk about a particular industry — should be taxed at 28 percent. Most of that consumption is for housing, and housing is one of the highest multipliers in tax. So I would feel that if they can make some of those tweaks, definitely it will give greater impetus from a demand standpoint. Obviously, interest rates are coming down, as we know, some part of the income is also going away in higher interest rates. So if interest rates do come down, it creates a greater impetus for consumption and doesn't cost the government, provided they feel confident about managing inflation. The third term of the Modi government presents a stupendous opportunity to really push through reforms that have been on the back burner for various political reasons. So in terms of the tough reforms, what would you like to see the government really focus on in its third term? Yeah, honestly, I don't feel that there are any big reforms. I mean, there are some reforms that have more political noise around it. We saw that in terms of farm laws and everything else. I think if they can bring it in a smaller way, not the full thing, but in a smaller way, I think that would be good. Labour reforms, again, if they can encourage most states to implement it, even if not in the entire state, but in pockets, I think that would be very helpful. And then there are reforms that are related to ease of doing business, which honestly don't require that much of political will. I think most people will not have a political reason, but that's where I think it more — the more we can lean on simplicity and trust. I think it goes both ways. I think it's incumbent on industry also, as well as government to ensure that we are encouraging that behaviour. I think the entire layer of ease of doing business will be very important. But practical labour reforms are important. Also, the availability of more parcels of land so that it's easier for people to acquire large pieces of land at affordable prices for setting up manufacturing so that the cost doesn't go out of whack. I think I would say that's also something that they should look at. So, disinvestment is something, privatisation is something that I think will be very good, but the government may find it difficult, except maybe some of the banks that they're looking at privatising. I think hopefully they can complete that process quickly. That creates lots of efficiencies in the system. But disinvestment, if they can do it in an accelerated way, I don't think it's a large reform. It's just accelerating and executing some of the things that they have announced in terms of employment. I think the internship scheme that was announced, obviously, it's facing some issues. The number of people applying for it, everything. But if again, that is something they can tweak and accelerate, that will be good. The Anusandhan scheme that was announced would have Rs 1 lakh crore allocated to it, to actually implement that and make that functional will be very important. So I don't think there are that many of big bang reforms. I think within the art of possible, there are lots of things which can be executed better and more efficiently. I think that's good. That's what will give the results. What are your expectations on the new IT code and the direct tax code? So, as you know the government has set up an internal group and they are evaluating or putting together their thoughts. They've also invited comments from public and they have broken those questions into four buckets. One of it is suggestions that lead to the simplification of laws. The second is suggestions that lead to taking obsolete provisions away. Suggestions that will lead to a reduction in compliance. Suggestions that will lead to a reduction in litigation. I'm hoping that once they receive the feedback and start working on this, you know, they will start putting it together. And there's a lot of work that's already been done in the past. So I think there's a lot to learn from that. It will be good for them to put the entire new Income Tax Act together. I think we will see snippets of that in the Budget and some things that are obvious will come through. I'm hoping that at least and we can discuss some of those things. But I would say the draft bill of sorts or the draft Income Tax Act, you know, having been part of the process, it is a complex process and they may want to put it to a committee or something like that. So it may take some more time than the Budget date before they're able to bring it. So I think it should hopefully happen sometime between this and the next Budget. But what are the changes that you're expecting to come through in this Budget, the small ones that you mentioned? Firstly, I think from a tax rate standpoint, I'm hoping that the personal tax rate does come down. The second is that if they can find ways in which disputes, you know, a number of disputes that are coming into the judicial system or the CIT appeals, CIT appeals is where the biggest clog is. If they can find a way to do dispute resolution or create schemes of dispute resolution and the existing ones if they can improve, increase thresholds of that, then the number of disputes that are clogging the system come down, so that at least people have an opportunity to settle before that. The third is, you know, the alternate dispute resolution mechanisms. I think they have to be strengthened. So whether it's advanced ruling systems, whether it was the APM mechanism that was set up, various mechanisms, I mean, they are working, but they are not working at the speed, scale and efficiency as they should. Advanced ruling was when foreign companies came in, they wanted some certainty, they applied for advanced ruling. The idea was that they'd get a ruling in six months. Things have been pending for six, seven years now. Likewise, EPAs have almost 800, 900 cases of pendency. At an average, you are getting, you know, things 200 to 300 cases get solved every year. They have to find ways in which it can be efficiently dealt with. Likewise, I would think TDS simplification is an important piece, withholding tax simplification. Also, not-for-profit taxation is something that is creating a lot of concern. So whether in the new bill or in the existing one, I think they should try and address, it's becoming very complex. They should address not-for-profit taxation. Any specific areas? No, I think whether it's in terms of, you know, how much money, when it has to be spent, what speed it has to be spent. How do you deal with not-for-profit schools, education versus for-profit medical institutions and everything? People have to go for registration every five years. So I think we should look at all these things and some of which obviously government has put in to plug some things that were getting misused. So that is one area where I think they need to look at, whether they look at here or in the new bill. I think that's something that has to be seen. I also think I've been — I believe that a lot of wealth creation has happened in India. A lot of people want to direct it towards philanthropy. If we can find ways and means of making it efficient, consistent with what happens in most of the world of using some of the wealth created for, not for personal gains, but for philanthropic benefits without creating a tax event, I think that will be very helpful. Your last comments on GST, the way we see it in its current form and the way it was envisaged. It seems this is a very complicated piece of taxation that completely runs opposite to making doing business in India easier with the goal of making doing business in India easier. Yeah, I think GST has been one of the biggest tax reforms that India has seen. And I think the level of change and automation that the government has done to achieve GST is really credible, especially in terms of automation. I think the two challenges that the government is facing, one is obviously there is some level of misuse that has happened, especially in terms of credits that have been utilised, which shouldn't have been availed of. And second is states are feeling a greater amount of revenue pressure. And as you know, most of the states have announced lots of schemes. And then there is the mindset, right or wrong. I think they're both sides of the argument that, yeah, if a shoe that's sold for Rs 500 and a shoe that's sold for Rs 50,000, should they be taxed at the same rate? And there are some people in the government who believe that the tax rate should be higher for those people. And there's the other side that, you know, the rate on that is 10 percent. This 10 percent is not the rate, I'm just using for simplicity. Then you're paying 10 percent on Rs 500 and you're paying 10 percent on Rs 50,000. So the numbers as it is are quite different. So, when you add up all this, I think where the government seems to be going is I think there is the ability to take the bet of reducing the slab rates, going for more simplification, and keeping things simple may create some more revenue challenges. And there's a lot of resistance, I would say, not only from the central government, there's a lot of resistance from states also in doing that. But I strongly believe that the more simple regime we can create, the greater will be the level of compliance, the greater will be the level of ease of doing business, greater economic activity and greater revenue collection. So I think if the government can move towards a basis where they have to protect from any kind of evasion that happens, but keep things simple and maybe three slab rates without distinguishing. And you can have some additional duties for sin products or whatever else it is. So if they can do that, then I think it will become much easier to implement. And I'm very confident that the revenue collection will also be higher. Maybe there will be some pain for a few months but I think the consumption will accelerate. And finally, I would say is that the big challenge in GST right now the government needs to address is if I'm a company that's operating in 15 states, do I really need to get 15 assessments? Can I just get an assessment done by the Centre and maybe one more state the other states can follow? You know, can there be adequate safeguards? That the notices are just not raised at a junior level. The entire GST administration, the way assessment, audit is being done. The number of agencies that come when the assessments are happening. The way you deal with disputes. That is creating a lot of confusion. One is the rates side and one is the assessment — both require some level of handling.
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2024-12-24 19:04
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2024-12-24
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19:04
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moneycontrol.com
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https://www.moneycontrol.com/news/india/bangladesh-strengthens-maritime-ties-with-pakistan-why-should-india-be-concerned-12897167.html
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Bangladesh strengthens trade & maritime ties with Pakistan: Why India should be concerned
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Bangladesh interim government Chief Adviser Muhammad Yunus (Courtesy: Reuters photo).Related stories.
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Trade and maritime ties between Bangladesh and Pakistan are gaining momentum - raising concerns for India - with a second cargo vessel from Karachi docking at Bangladesh’s Chittagong port this week. According to reports in Bangladeshi media, the Panama-flagged ship MV Yuan Xiang Fa Zhan entered Bangladeshi waters on Sunday, carrying 811 containers filled with essential industrial materials such as soda ash, dolomite, marble blocks, garments raw materials, sugar and electronic products. Notably, the first cargo docked at the port earlier in November which marked the first direct maritime trade link between Pakistan and Bangladesh in 53 years. For Pakistan, it represents a significant breakthrough in the historically fraught diplomatic relations between the two nations, particularly following Sheikh Hasina’s ouster and the subsequent regime change in Bangladesh. The new Bangladeshi government under Nobel laureate Muhammad Yunus in a notable policy shift abolished the requirement for mandatory physical inspections of imports from Pakistan in October. The arrival of this cargo comes shortly after a meeting between Bangladesh's interim leader, Professor Muhammad Yunus and Pakistan’s Prime Minister Shehbaz Sharif in Egypt’s capital city Cairo. During the talks, both leaders pledged to strengthen bilateral ties, signaling a shift in Bangladesh’s foreign policy under Yunus, who assumed office in August 2024. Why is it a concern for India? Chittagong Port, strategically located in the Bay of Bengal, has been a focal point for India’s regional security interests. India has historically leveraged its strong relations with Sheikh Hasina to monitor activities at the port. Notably, in 2004, Indian authorities intercepted a shipment of Chinese arms allegedly orchestrated by Pakistan’s Inter-Services Intelligence (ISI) and intended for the banned United Liberation Front of Asom (ULFA). Bangladesh's recent decision to remove mandatory physical inspections for cargo from Pakistan has added to India’s concerns. Previously, restrictive trade policies required Pakistani shipments to be routed through third-party ports in Malaysia, Singapore or Sri Lanka, enabling closer scrutiny. India now fears that enhanced Pakistan-Bangladesh ties and direct maritime connectivity could facilitate the resurgence of Islamist extremism targeting India and aid insurgent groups in the northeastern states. As Pakistan and Bangladesh strengthen their maritime and trade ties, India remains wary of the potential security challenges and shifting geopolitical dynamics in South Asia. With direct shipping routes now operational and policy shifts under Yunus, New Delhi’s strategic calculations in the region may require significant reassessment. Yunus’ pro-Pakistan stance Yunus, a vocal critic of Hasina's policies, has prioritised mending Bangladesh’s strained relations with Islamabad. In his recent meeting with Sharif, Yunus emphasised resolving longstanding issues from Bangladesh’s 1971 liberation war, during which the two nations were bitterly divided. Sharif, calling Bangladesh a “brotherly country”, stressed the importance of a strategic partnership and expanding ties through trade, sports and cultural exchanges.
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2024-12-24 19:03
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2024-12-24
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19:03
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moneycontrol.com
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https://www.moneycontrol.com/news/business/november-aviation-data-indigo-most-punctual-domestic-traffic-dips-below-pre-pandemic-level-12896885.html
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November aviation data: IndiGo most punctual; domestic traffic rise 5.9 percent on year
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Aviation.Related stories.
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Vistara, which shut down operations on November 12 after being merged with Air India, was the most punctual airline in the final few days of its operations, data from the Director General of Aviation (DGCA) showed. Vistara reported an On-Time Performance 79.3 percent for flights operated between November 1-12. However, when considering the whole month of November, IndiGo maintained its pole position as India's most punctual airline for the second month in a row. IndiGoturned in an on-time performance of 74.5 percent at four metro airports – New Delhi, Bengaluru, Hyderabad and Mumbai. Akasa Air andSpiceJetwere second and third, followed by Alliance Air. On-time performance of airlines rose in October after heavy rainfall forced flight delays in October. Punctuality rose by 4-7 percent in November 2024 from October 2024. Domestic air traffic rose 12 percent year-on-year to 14.252 million passengers, according to data released by the DGCA on December 23. More people flew in November than in October, when passenger traffic stood at 13.658 million. Domestic airlines carried 146.4 million passengers during the January-November period, up 5.9 percent from 138.2 million in the year-ago period, the civil aviation regulator said. Aviation pie IndiGo's market share in November rose to 63.6 percent from 63.3 percent in October and 63 percent in September. The airline carried 9.07 million passengers in November. IndiGo’s market share had risen for three straight months. Air India retained its position as the second-largest domestic carrier with a market share of 24.4 percent after flying 3.473 million passengers. The Tata Group airline’s market share in November represented its combined market share after the merger with Vistara and subsidiary AIX Connect, formerly AirAsia India. Akasa Air remained in the third spot ahead of SpiceJet, and the airlines carried 674,000 passengers in November for a market share of 4.7 percent, 20 basis points higher from October. SpiceJet's market share was 3.1 percent. The airline carried 443,000 passengers. It had a peak market share of 10.7 percent in February 2022. The passenger load factor, or the occupancy rate, of SpiceJet, IndiGo, Air India, and Akasa Air stood at 87.9 percent, 90.3 percent, 87.3 percent, and 92.6 percent, respectively, in November. As many as 624 passenger complaints were received in November, the data showed. The number of complaints per 10,000 passengers carried was about 0.44. Flight problems made up 34.3 percent of reason for passenger complaints in November 2024, 25.3 percent of passenger complaints were due to baggage issues, 13.8 percent due to refund issues, and 10.4 percent due to customer service. Disability, staff behaviour, catering, and fare issues combined made up 6.9 percent of all complaints received in November, while 9.3 percent of complaints were for 'other' reason, the DGCA said. As many as 3,539 passengers were denied boarding by airlines in November. A total of 27,577 passengers were affected by flight cancellations and 224,904 011 passengers were impacted due to flight delays last month.
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2024-12-24 18:59
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2024-12-24
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18:59
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moneycontrol.com
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https://www.moneycontrol.com/news/business/startup/elon-musk-s-xai-secures-6-billion-in-series-c-funding-to-fuel-ai-innovation-12897168.html
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Elon Musk's xAI secures $6 billion in series C funding to fuel AI innovation
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Elon Musk.Related stories.
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xAI, the artificial intelligence firm co-founded by Elon Musk, has raised $6 billion in its Series C funding round from key investors including A16Z, BlackRock, and Sequoia Capital, the firm said in a blogpost on December 24. Strategic investors NVIDIA and AMD also participated in the round. With the new funding, the company aims to drive forward its AI infrastructure, including the deployment of its flagship Grok language model and Colossus supercomputer. This funding is also poised to accelerate product offerings for both enterprise and consumer markets, particularly with recent launches like Grok 2 and Aurora, an AI-driven image generation model. "The funds will help xAI expand its capabilities in developing next-generation AI solutions that could redefine various industries," the firm's blogpost said. As xAI looks to grow its ecosystem, the company has emphasised its commitment to making AI tools more accessible and impactful in everyday applications. The funding comes just six months after the firm raised its Series B round of $6 billion, which was backed by investors including Andreessen Horowitz and Sequoia Capital among others, the company said in a blog post on May 26. The funding round saw the participation of Valor Equity Partners, Vy Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others apart from Andreessen Horowitz and Sequoia Capital, the startup said in the post. Though xAI did not say what it was valued at after the latest round of funding, other media reports previously suggested the company would be valued at between $18 billion and $24 billion during its Series B round. xAI got its start with Musk-owned social media platform X, formerly known as Twitter, where it helped build the Grok AI service.
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2024-12-24 18:43
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2024-12-24
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18:43
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/bharat-forge-to-invest-nearly-rs-345-crore-in-subsidiary-that-oversees-european-manufacturing-12897165.html
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Bharat Forge to invest nearly Rs 345 crore in subsidiary that oversees European manufacturing
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Bharat Forge had recently raised funds through a QIP issue, and will be deploying a part of the proceeds into BFGH, to help repay or prepay certain outstanding borrowings..Related stories.
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The board of Bharat Forge has approved an investment of Euro 39 million, or Rs 345 crore, into Bharat Forge Global Holding (BFGH), a subsidiary that has investments in Europe, the company said in a statement on December 24. Bharat Forgehad recentlyraised funds through a QIP issue, and will be deploying a part of the proceeds into BFGH, to help repay or prepay certain outstanding borrowings. The issue saw significant interest across domestic and qualified institutional investors, with more than ten times demand for the issue size. BFGH, incorporated in December last year, is a holding company with investments in manufacturing subsidiaries in Germany, Sweden and France. BFGH had a turnover of Euro 5.11 million during CY23. In November, the forging company has given anin-principle nodto invest Rs 1,122 crore in three subsidiaries - Bharat Forge Global, Bharat Forge America and Kalyani Powertrain. Bharat Forge has indicated it expects stable performance in the second half of the financial year, with a focus on improving revenue and profitability in its subsidiaries. On a YTD basis, shares of Bharat Forge are higher by 6.2%.
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2024-12-24 18:41
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2024-12-24
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18:41
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moneycontrol.com
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https://www.moneycontrol.com/technology/whatsapp-adds-a-new-reaction-emoji-for-ios-android-all-the-details-article-12897148.html
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WhatsApp adds a new reaction emoji for iOS, Android: All the details
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WhatsApp.Related stories.
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WhatsApp, the popular messaging app from Meta, has embraced the festive spirit of the season by updating its platform to include a new emoji for users.Now, both iOS and Android users can utilize the Party Popper emoji () as a default reaction. This new emoji joins the existing array of reactions that users can choose from to express their emotions quickly and easily in conversations. Previously, WhatsApp offered six default reactions: thumbs up, heart, crying with laughter, shocked face, sad face, and high five. The addition of the Party Popper emoji provides a dedicated option for celebrating special moments, birthdays, or any occasion that calls for a festive touch. How to use the new reaction emoji? To use the new reaction, simply tap and hold on a message to bring up the reaction tray. The Party Popper emoji will be readily available alongside the other default options. While the Party Popper emoji is currently available as part of the latest WhatsApp update, it's worth noting that it may be a limited-time addition, potentially removed after the holiday season. That’s because recently WhatsApp introduced a few limited edition features for the New Year and Christmas celebrations. For instance, the instant messaging app introduced video call effects and background filters that align with New Year celebrations. Users can add these filters during video calls to enhance their experience. The new features started rolling out on Android and iOS devices and will be available from December 20 to January 3. It’s not clear whether the Party Popper emoji is also a part of these limited features.
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2024-12-24 18:36
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2024-12-24
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18:36
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/ganesh-consumer-products-files-ipo-papers-motilal-oswal-alternates-owned-funds-to-exit-via-offer-for-sale-12897145.html
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Ganesh Consumer Products files IPO papers, Motilal Oswal Alternates-owned funds to exit via offer for sale
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Ganesh Consumer Products IPO.Related stories.
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FMCG company Ganesh Consumer Products, earlier known as Ganesh Grains, has filed preliminary papers with the SEBI to raise funds via initial public offering and give exit to funds owned by Motilal Oswal Alternates. The IPO is a combination of fresh issuance of equity shares worth Rs 130 crore, and an offer-for-sale of 1.24 crore shares by promoters and investors. Promoter Manish Mimani, and his wife Madhu Mimani will be selling 30.91 lakh shares in the offer-for-sale. Further, India Business Excellence Fund II and IIA, owned by Motilal Oswal Alternates (Motilal Oswal Private Equity), will exit Ganesh Consumer by selling their entire holding of 93.5 lakh shares (representing 25.71 percent of pre-offer paid-up capital). Promoters own 74.29 percent stake in the company. The Kolkata-headquartered company may raise Rs 26 crore via pre-IPO placement before the filing of red herring prospectus with the Registrar of Companies. Click Here To ReadAll IPO News Ganesh Consumer Products claimed to be the third largest brand of packaged whole wheat flour (atta) and largest brand of wheat-based derivatives (maida, sooji, dalia) in East India, in terms of value sold in FY24. It has a 41% share in terms of value sold in West Bengal for wheat-based products. The company that competes with listed peers like Patanjali Foods, Adani Wilmar, and Agro Tech Foods will utilise fresh issue proceeds for repaying debt, setting up of a roasted gram flour and gram flour manufacturing unit in Darjeeling, and general corporate purposes. Also read:Shapoorji Pallonji kicks off talks for IPO of real estate business On the financials front, it has seen a marginal decline in net profit at Rs 27 crore for the fiscal 2024, down from 27.1 crore in previous fiscal. However, revenue in the same period increased by 24.3 percent to Rs 759 crore from Rs 610.8 crore. In three months period ended June 2024, profit stood at Rs 13.4 crore on revenue of Rs 189.5 crore. DAM Capital Advisors, IIFL Capital Services, and Motilal Oswal Investment Advisors are the merchant bankers for the public issue.
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2024-12-24 18:22
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2024-12-24
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18:22
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/bears-sound-smart-but-bulls-make-you-money-ed-yardeni-quotes-wall-st-adage-to-defend-optimism-12897154.html
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Bears sound smart, but bulls make you money: Ed Yardeni quotes Wall St adage to defend optimism
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Edward Yardeni wrote that he would like his tombstone to say, "Ed Yardeni, 1950-2050. He was usually bullish and usually right!"..Related stories.
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Permabears may get an investor out of the market "well before a significant top" but they are not likely to get the investor back in at the bottom, wrote the noted investment strategist Edward 'Ed' Yardeni in his latest post. "Bears sound smart, but bulls make you money," he wrote, quoting a Wall Street adage and addressing criticism levelled at him in a recent article, which called him permabull that had his projections undermined by economic realities. The criticism came from November 19 post titled, "Yardeni And The Long History of Stock Market Prediction Problems" by Lance Roberts, the Chief Investment Strategist for RIA Advisors. Also read:'Something doesn't make sense', says Yardeni Research on US stock market "Usually bullish, usually right" Yardeniwrote that he is indeed a permabull and he treats the label as a compliment, and then added that he would even want his tombstone to record his bullishness. He wrote that he would like his tombstone to say, "Ed Yardeni, 1950-2050. He was usually bullish and usually right!". He cited the reasons for his optimism, such as the past half-century bringing only six bear markets, recessions being infrequent and not lasting long and bear markets keeping the secular bull markets healthy for nearly a century. Yardeni wrote, "According to Seeking Alpha, there have been 28 bear markets in the S&P 500 since 1928, with an average decline of 35.6%. The average length of time was 289 days, or roughly 9.5 months. ABC News reported that since World War II, bear markets on average have taken 13 months to go from peak to trough and 27 months for the stock price index to recoup lost ground. The S&P 500 index has fallen an average of 33% during bear markets over that time frame. "Yet the stock market has been in a secular bull market since the Great Crash of the early 1930s". He added, "Bear markets serve an important function for bull markets, helping to flush irrational exuberance out of valuations and allow price indexes to resume their climbs on a sounder footing." Defending trackrecord Against the criticism that his projections are proven wrong by economic realities, Yardeni mounted a spirited defence and wrote that Roberts was "uninformed" about the accuracy of Yardeni's forecasting track record. Roberts had written, "First, historical precedents remind us that unforeseen economic downturns can reverse market momentum even during seemingly unstoppable growth. As noted, Yardeni made bullish forecasts previously, only for economic realities to undermine those projections." To rebut this, Yardeni several instances where his predictions were "optimistic and right". These included his experience of the eighties, when he was bearish during the bear market. Yardeni wrote, "I turned very bullish in August 1982, which was the bottom. I didn’t call the August top of the 1987 bear market, but I did call the bottom in December of that year." Yardeni also said that he was the first strategists to identify the bullish consequences of the High-Tech Revolution in the early 1990s and recommended overweighting the technology sector in the S&9500; and that, in May 1990, he predicted Dow 5000 in 1993 and that happened behind schedule in 1995 and Dow at 10,000 by 2000 and it happened ahead of schedule on March 29, 1999.
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2024-12-24 18:18
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2024-12-24
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18:18
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moneycontrol.com
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https://www.moneycontrol.com/news/world/american-airlines-grounds-all-us-flights-on-busy-christmas-eve-12897155.html
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American Airlines grounds all US flights on busy Christmas Eve
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American Airlines says experiencing technical issue with its flights.Related stories.
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American Airlines on Tuesday grounded all its flights in the U.S. due to an unspecified technical issue, according to the company and a regulatory notice, disrupting the travel plans of thousands of passengers set to fly out for Christmas Eve. The company has not said why it was stopping all flights. Numerous passengers were posting on social media that their flights had been stuck on the runway at various airports and were now being sent back to the gate. "An estimated timeframe has not been provided, but they're trying to fix it in the shortest possible time," the company said in a post on X, responding to a question from a stranded flyer. Shares of the carrier were down 3.8% before the bell. A notice on the U.S. Federal Aviation Administration website merely said the company had requested a nationwide groundstop, without giving a reason. As of 7:30 a.m. ET, American had not made a formal statement on social media, and was only responding to comments on X as numerous users posted there, as well as on Bluesky and Facebook. "Hey, @AmericanAir just tell us whether we should go home or not. Please don't make us wait in the airport for hours," wrote one user. American operates thousands of flights per day to more than 350 destinations in more than 60 countries. The grounding comes months after airlines were hit by a global tech outage tied to Microsoft's Azure cloud platform and a software issue at cybersecurity firm CrowdStrike. The U.S. FAA was not immediately available for further comment. Two years ago, Southwest Airlines experienced a meltdown with its systems during the holidays that led to 16,900 flight cancellations and stranded 2 million passengers. It was eventually fined $140 million in the largest-ever civil penalty for a travel disruption.
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2024-12-24 18:12
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2024-12-24
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18:12
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moneycontrol.com
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https://www.moneycontrol.com/news/business/akasa-air-fined-rs-10-lakh-by-dgca-for-denying-boarding-to-passengers-12897075.html
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Akasa Air fined Rs 10 lakh by DGCA for denying boarding to passengers
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Akasa Air.Related stories.
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The Directorate General of Civil Aviation (DGCA) has fined Akasa Air Rs 10 lakh for denying boarding to seven passengers on September 6, 2024, due to unserviceable seats and not offering the required compensation. The passengers had booked a flight from Bangalore to Pune on Akasa flight QP 1437, scheduled for 2050 IST. However, the aircraft was grounded due to foreign object damage, and a replacement plane with nine non-operational seats was provided. As a result, seven passengers were denied boarding. While Akasa arranged an alternate flight for the seven passengers scheduled for 2240 IST, the new departure time was over an hour later than the original. According to the civil aviation ministry released a charter in August 2019 on the rights of passengers flying within the country, in such cases, the airline is liable to offer compensation only when it is unable to put the passenger on an alternative flight scheduled to leave within one hour of the original departure time. As Akasa Air had arranged for an alternative flight over an hour later than the original, a fine of up to Rs 10,000 was to be paid as compensation by the airline. However, the the airline failed to compensate the affected passengers, violating the provisions of Civil Aviation Requirements (CAR) Section-3, Series M, Part IV. Responding to the development, Akasa Air said: "We acknowledge receipt of an order by the DGCA dated December 23, 2024. We continue to work closely with the DGCA to address this matter and enhance our protocols as required by the regulator.” According to the MoCA charter, if the alternative flight is arranged within 24 hours of the original flight’s departure, up to Rs 10,000 has to be paid as compensation by the airline. If the alternative flight is beyond 24 hours of the original departure, an amount up to Rs 20,000 has to be paid as compensation. After issuing a show cause notice on August 29, the DGCA said that the airline's justifications were insufficient and imposed the penalty under Rule 162 of the Aircraft Rules, 1937. This is not the first time the airline has faced action from the regulator. In October this year, the airline was penalised with a Rs 30 lakh fine for deficiencies in pilot training. The violations included conducting practical training for technical instructors and pilots without the necessary ATRP approvals, exceeding the allowed training hours, and appointing examiners unqualified for CAT II/III operations. Last week, Akasa received a notice for lapses in aircraft maintenance and certification. The airline was also issued a show-cause notice for not updating its operations manual within the prescribed time. In a separate incident on December 9, the DGCA issued a show-cause notice to Akasa's Aircraft Maintenance Engineer (AME) after a spot check on August 30 at Bangalore International Airport revealed improper reinstallation of a right-hand nose wheel tire pressure indicator sensor on aircraft VT-YAY. The certifying staff had failed to lock the sensor system properly. The DGCA in August 2024 had imposed a similar fine of Rs 10 lakh on Air India Express for not complying with rules regarding providing compensation to passengers affected due to cancellation of flights.
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2024-12-24 18:06
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2024-12-24
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18:06
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moneycontrol.com
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https://www.moneycontrol.com/technology/apple-ipad-11-expected-to-be-released-in-early-2025-with-ipados-18-3-and-apple-intelligence-report-article-12897142.html
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Apple iPad 11 expected to be released in early 2025 with iPadOS 18.3 and Apple Intelligence: Report
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Apple iPad.
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Cupertino-based tech giant Apple updated its entire iPad lineup this year, except for the entry-level model, which hasn’t seen its successor since 2022. However, the company reportedly plans to launch its next entry-level tablet, the iPad 11, in early 2025. Further, this upcoming iPad will launch at the same time the iPadOS 18.3 update will be rolled out to the public. iPad 11: Expected release timeline and specifications A previous report by Bloomberg's Mark Gurman suggested that Apple plans to launch the iPad 11 in Spring 2025. Now, a new report by 9to5Mac confirms that the iPad 11 will be introduced in the first quarter of 2025. Moreover, the upcoming iPhone SE 4 and the new iPad Air are also expected to be released during the same timeline. According to the report, the iPad 11 would support Apple Intelligence, which means it could be powered by either A17 Pro or A18 chipsets and have 8GB of RAM, at least. The upcoming iPad 11 could also be the first tablet from Apple with 5G and Wi-Fi connectivity support. Additionally, Apple is also said to be developing a new Magic Keyboard for the iPad Air, with a release expected by mid-2025. Moreover, the upcoming iPad 11 is expected to come with several hardware enhancements compared to its predecessor, as it should offer improved performance and possibly upgraded camera features.
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2024-12-24 18:05
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2024-12-24
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18:05
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moneycontrol.com
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https://www.moneycontrol.com/news/business/companies/dabur-india-moves-court-to-restrain-patanjali-s-chyawanprash-ad-that-calls-rivals-ordinary-12897116.html
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Dabur India moves court to restrain Patanjali's Chyawanprash ad that calls rivals 'ordinary'
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Dabur India's representative Akhil Sibal said the advertisement misleads consumers, and implies other brands lack the knowledge or authenticity to prepare chyawanprash..Related stories.
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FMCG major Dabur India has moved the Delhi High Court against Patanjali Ayuved on December 24 alleging that the company has run a disparaging advertisement targetting its 'Chyawanprash' brand. Legal news website Bar and Bench reported that High Court judge Mini Pushkarna has issued a notice in the matter and listed it for hearing in the last week of January, to consider for interim orders. The report saidDabur Indiahas sought immediate restraining orders against Patanjali Ayurved. Initially, the judge had suggested mediation to address the concerns but decided to hear the case after Dabur sought urgent relief. Dabur India's representative Akhil Sibal said the advertisement misleads consumers, and implies other brands lack the knowledge or authenticity to prepare chyawanprash. Sibal cited Drugs and Cosmetics Act to state that pre-defined parameters exists for preparation, and any allegation of 'ordinary' product is damaging to competitors such as Dabur, which has more than 61% market share in this category. The advertisement by Patanjali Ayurved features founder Swami Ramdev saying, "Jinko Ayurved aur Vedo ka gyaan nahi, Charak, Sushrut, Dhanwantari aur Chyawanrishi ke parampara mei ‘original’ Chyawanprash kaise bana payenge?" The Patanjali has been running on various TV channels and has also been published in the Delhi edition of a newspaper. Senior Advocate Akhil Sibal also said that Patanjali Ayurved has been a habitual offender, citing Supreme Court's orders over acontempt petition against Patanjaliearlier this year. Senior Advocate Jayant Mehta, on the behalf of Patanjali Ayurved, sought time to file a response and also questioned the maintainability of the suit. Patanjali Foods, which has an over Rs 62,300 crore market capitalisation, has been expanding its food vertical, which houses Patanjali Chayawanprash, with new products such as millet-based cereals, branded dry fruits and tea. The Food vertical contributed 76% to FY24 revenue. During Q2FY25, the ethnic foods category, which includes chyawanprash, recorded a revenue of Rs 621 crore as opposed to Rs 405 crore a quarter ago. During Q2FY25, the company had spent Rs 40-50 crore on advertisement.
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2024-12-24 18:01
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2024-12-24
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18:01
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/super-fund-manager-2024-why-this-flexi-cap-fund-manager-believes-a-blended-strategy-is-key-to-success-12896410.html
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Super Fund Manager 2024: Why this Flexi Cap fund manager believes a blended strategy is key to success
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Related stories.
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When it comes to a flexi cap fund, a blended approach is the key to success according to Invesco’s Head of Equity and Fund Manager Amit Ganatra. The Invesco Flexi Cap fund has given returns of around 41 percent this year. Talking about what worked, Ganatra says "Our portfolio is well-diversified, with the high-growth component spread across 43 names, reducing the impact of any single underperformer." He also spoke about why India’s risks are more domestic than global, sectors on his radar and what about the market this year surprised him the most? Edited excerpts: Could you talk about what worked for your flexi-cap strategy? The fund has maintained consistent positioning since inception and is approaching its third year. We focus on three types of companies: high growth companies expected to grow top-line, operating profit, or EPS by over 15% annually for the next two years, with sustainability thereafter; high-quality companies with stable ROE, ROCE above 15%, though growth may not exceed 15% CAGR in the next two years; and turnaround companies in a phase of recovery or transformation. Have there been any specific bets that you've taken this year that have not worked?This year, the high-quality component of the portfolio has underperformed. While markets rewarded high growth, high-quality stocks with strong ROCs but under 15% growth lagged. For example, HDFC Bank and ICICI Bank, once considered high-growth, now show lower credit and earnings growth, thus falling under the high-quality category. One specific underperformer was Honasa Consumer, part of our high-growth exposure. It faced growth challenges with its core brand. This highlights the risk of high-growth strategies -- if a company fails to meet expectations, it underperforms. However, our portfolio is well-diversified with the high-growth component spread across 43 names, reducing the impact of any single underperformer. Are there any particular characteristics of the fund that you think worked in this volatile market?In the last six months, our positioning benefited from market conditions. In March 2020, 62 companies in the BSE 500 delivered over 15% revenue growth, which went up to almost 350 by March 2022 but from that time, the number has been dropping and is now down to 165. During broad market rallies like the period FY20-22, stock selection was less critical, but as growth narrowed, stock picking became more important. Our portfolio's 60%+ companies delivered over 15% growth, which worked in our favor. These companies were rewarded with re-ratings, driving strong fund performance. The FlexiCap strategy, focused on growth, benefited in a challenging growth environment. What sectors are you currently overweight on, and what are you underweight on?In the last six months, we've been overweight in financials, but given its underperformance, we are now neutral. We remain overweight in healthcare and IT. Consumer discretionary is our largest overweight, driven by bottom-up stock selection, despite challenges in India's consumption sector. We are underweight in staples, preferring discretionary consumption instead. Energy and metals are also significant underweights in the fund. How do you look at valuation?To achieve high growth, you must pay a premium, increasing the portfolio's P/E multiple. Hence, balancing is essential. As mentioned, nearly 36% of the portfolio, comprising high quality and turnaround stocks—helps lower overall valuations. The portfolio's blend ensures valuations remain reasonable. Top holdings, ICICI Bank and HDFC Bank, reduce the overall P/E and price-to-book multiples, providing stability. Though these components haven’t performed well, we continue backing them for their role in maintaining comfortable portfolio valuations. Their stability outweighs short-term underperformance. Could you also talk a bit about your exposure to tech?Indian consumer tech includes companies like Zomato and PB Fintech, benefiting from India's increasing tech adoption. More consumers now make purchasing decisions online, boosting these businesses. This segment is seen as a long-term, structural play. While valuations aren't cheap, owning such businesses for the long term could capture substantial profit pools and deliver strong value creation. What's your outlook for next year?Overall macros remain strong, but we're experiencing a temporary slowdown due to slower credit growth and government capex. Government spending usually picks up post-election cycles, so that slowdown seems temporary. Credit growth has normalised with deposit growth, reducing further slowdown risks. From Q3 and Q4, we expect gradual improvement in numbers. Valuations, however, remain expensive across sectors except for financials and some autos. While there's a degree of slowdown, long-term opportunities are decent. Given the scenario, it's important to stay invested. Equity investments can still yield 12-13% earnings compounding, which is reasonable. What will be your strategy for next year?We need to be more cautious. While our portfolio comprises companies that are doing well, we realise that mistakes in markets with expensive valuations can hurt us. We need to be vigilant and avoid excessive risks. The current approach of FlexiCap, balancing growth with high-quality, stable stocks, works well. A diversified approach, including both growth and value, across large caps and small caps, will help navigate next year. What are your top sectors for next year?Sectors that are cheap in terms of valuation offer opportunities for P/E re-rating. The financial sector still looks attractive from a valuation perspective. Consumer discretionary also looks attractive, as the slowdown is already priced in, and a recovery is expected next year. IT and healthcare are promising from a growth perspective.
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2024-12-24 17:50
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2024-12-24
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17:50
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/senores-pharma-ipo-gmp-soars-to-60-on-final-day-of-bidding-check-subscription-status-on-day-3-12896922.html
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Senores Pharma IPO GMP soars to 60% on final day of bidding; issue concludes with 93 times subscription
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Senores Pharma IPO GMP soars to 60% on final day of bidding.Related stories.
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Senores Pharmaceuticals IPO GMP has soared to 60 percent on the final day of bidding. The issue garnered 93.41 times subscription on day 3 of the subscription. The Rs 582-crore initial share sale ofSenores Pharmagot bids for 77.72 crore shares, as against 85.34 lakh shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) received 89.21 times subscription, while the non-institutional investors segment got subscribed 96.11 times. Qualified Institutional Buyers (QIBs) part received 94.66x subscription. Earlier, the company secured nearly Rs 261 crore from anchor investors. The IPO had a price range of Rs 372-391 per share. Check All IPO News Here Senores Pharma IPO GMP Today Price According to market observers tracking the grey market premium activities, the shares of Senores Pharma are commanding a GMP of nearly 60 percent. Investorgain quoted a GMP of Rs 230 in the unofficial market, indicating a listing gain of 58.82 percent. Senores Pharmaceuticals specialises in identifying, developing, and manufacturing a wide array of specialty, underserved, and complex pharmaceutical products, positioning itself as a preferred partner for select customers. As of March 2024, the company had three R&D facilities in India and the US and is in the process of consolidating its R&D facilities into one proposed dedicated facility in Ahmedabad. Senores Pharma shares are proposed to be listed on the BSE and the NSE on December 30.
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2024-12-24 17:48
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2024-12-24
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17:48
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moneycontrol.com
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https://www.moneycontrol.com/technology/two-biryani-orders-per-second-swiggy-sees-mammoth-83-million-orders-for-the-dish-in-2024-article-12897119.html
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Two biryani orders per second! Swiggy sees mammoth 83 million orders for the dish in 2024
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Two biryani orders per second! Swiggy sees mammoth 83 million orders for the dish in 2024.Related stories.
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Food delivery platform Swiggy gave fascinating insights on what India consumed in 2024 and no points for guessing that biryani remains the most ordered dish on the platform. Top dishes: *"A dish that all of India cannot stop cherishing! With 83 million biryanis devoured this year (that's 158 orders per minute or roughly 2 biryanis every second) Biryani is the undisputed King of food kingdom in the country for the 9th consecutive year," said Swiggy in its "How India Swiggy’d Its Way Through 2024: A Deep Dive into the Nation’s Eatopia" report. *Dosa saw 23 millions orders in 2024. *The Chicken Roll was "the nation’s most ordered snack in 2024", with a staggering 2.48 million orders. Hot on its heels were the Chicken Momos at 1.63 million orders, while Potato Fries saw 1.3 million orders. *"The Chicken Burger proved to be the ultimate midnight indulgence with a staggering 1.84 million orders between 12–2 AM," added Swiggy. Cities that consumed the most: * "Bengaluru enjoyed an incredible 2.5 million Masala Dosas in 2024, while Delhi, Chandigarh, and Kolkata couldn’t do without their classic crowd pullers of Chole, Aloo Parantha and Kachoris, respectively," said Swiggy. * "In 2024, Swiggy Dineout seated 22 million diners, who saved a massive Rs 533 crore in total with table reservations/deals per hour rising from 337 to 1,242 throughout the year. Delhi, Bengaluru, Hyderabad, Mumbai, and Pune led, while cities like Jaipur, Ahmedabad, Chandigarh, Lucknow and Indore spiced things up," added Swiggy. * Bengaluru led the party scene with nearly 289,000 alcohol transactions, far outpacing Delhi’s 96,000. * "Bengaluru plays the ultimate family man with 7,031 group orders, including a ₹23,000 feast serving 107 portions of a North Indian feast," said Swiggy. Who spent the most: * "A single consumer in Bengaluru spent Rs 49,900 on a pasta extravaganza, devouring almost 55 Alfredo dishes, 40 Mac & Cheese, and 30 Spaghetti plates," said Swiggy. * A Mumbai diner dropped Rs 3 lakh on a single order at a restaurant. * In 2024, Kanchipuram topped the charts with an average transaction of Rs 4,284, followed by Shillong at Rs 3,678 and Siliguri at Rs 2,747. * In just 3 months, 3.5 lakh secret orders were placed in Incognito Mode with Bengaluru topping the charts at 54,064 orders. Chicken Biryani emerged as the ultimate guilty pleasure with nearly 25,000 secret orders followed silently by Hyderabad, and Mumbai, said Swiggy.
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2024-12-24 17:42
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2024-12-24
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17:42
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moneycontrol.com
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https://www.moneycontrol.com/news/india/why-maharashtra-s-guardian-minister-posts-have-become-a-bone-of-contention-12897102.html
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Why Maharashtra's Guardian Minister posts have become a bone of contention
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Maharashtra government.Related stories.
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After the Mahayuti government in Maharashtra finally announced the long-awaited portfolio allocation on Saturday, a new battle has emerged among its allies over the coveted posts of Guardian Ministers. With multiple contenders vying for these influential roles across 11 districts, the stage is set for intense political maneuvering. Maharashtra currently has 42 ministers, including Chief Minister Devendra Fadnavis and Deputy Chief Ministers Eknath Shinde and Ajit Pawar. The race for Guardian Minister posts has gained traction in districts such as Nashik, Jalgaon, Raigad, Satara, Ratnagiri, Sindhudurg, Thane, Sambhaji Nagar, Beed, Pune and Kolhapur. Who is a Guardian Minister? The position of a Guardian Minister is pivotal, as it involves overseeing the District Planning and Development Council (DPDC) funds, essential for development and beautification projects. Guardian Ministers coordinate with district collectors, police superintendents, and administrative officials to prioritize development initiatives. As ex-officio chairpersons of the DPDC, they ensure the implementation of state government policies at the district level. Traditionally assigned to senior leaders from the ruling coalition, the role acts as a bridge between the state government and local administration, making it a highly sought-after post. Bone of contention The competition is particularly fierce in several districts. In Raigad, Shiv Sena minister Bharat Gogawale is vying against NCP minister Aditi Tatkare. “We have three ministers in Raigad. Last time, the Sena got the post, and now, as a minister, I naturally expect to be appointed,” said Gogawale. In Nashik, NCP’s Manikrao Kokate and Shinde Sena’s Dada Bhuse are locked in a standoff. Kokate stressed NCP’s strength, citing the party’s seven MLAs from the district. Satara is witnessing the most intense rivalry, with four ministers staking claims, while in Beed, NCP’s Dhananjay Munde and BJP’s Pankaja Munde are at loggerheads. High-stakes battle in Pune The battle for Pune has drawn significant attention, with Deputy CM Ajit Pawar and senior BJP minister Chandrakant Patil competing for the post. Patil, reportedly backed by Union Home Minister Amit Shah, has argued that Pune’s Guardian Minister post should remain with the BJP. However, Pawar has not yet commented on the matter. Madhuri Misal, Minister of State, expressed support for both leaders, stating, “I have worked under both Dadas and received their support.” Meanwhile, Union Minister Murli Mohol maintained that the allocation would be unanimous, dismissing any potential discord. Ajit Pawar, who recently achieved a landslide victory in Baramati, currently manages the finance portfolio, while Chandrakant Patil, who won from Kothrud, handles higher and technical education. In the earlier administration led by Eknath Shinde, Patil initially served as the Pune Guardian Minister before the post was reassigned to Pawar after his induction into the alliance.
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2024-12-24 17:35
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2024-12-24
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17:35
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/ra-tries-to-get-around-various-regulations-with-single-disclaimer-sebi-disagrees-issues-fine-12897097.html
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RA tries to get around various regulations with single disclaimer; SEBI disagrees, issues fine
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The Adjudicating Officer cited the SEBI circular that says that advertisements should not contain any misleading or deceptive testimonials..Related stories.
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A research analyst tried to get around various violations of regulations--such as assuring profits, citing past performance and using misleading testimonials--with a single disclaimer about market risk. It didn't work. In an order issued on December 24, the Securities and Exchange Board of India (SEBI) fined Sameer Pande, the proprietor of Niftypro Trading Research, Rs 2 lakh. In the order, SEBI's Adjudicating Officer Asha Shetty wrote, "I note that the violations observed in preceding paragraphs viz. making the promises of assured profits / returns, providing the profit calculations, making reference to the past performances, using the misleading testimonial and prohibited words in the advertisements etc. and giving disclaimer / informing the clients are two different propositions." Also read:Former Deloitte employee, friend pay over Rs 70 lakh to settle insider-trading allegations She wrote, "Further, informing the clients or making them aware about risks involved in the securities market is a responsibility of a SEBI registered RA. However, giving the disclaimers by the Noticee regrading risks involved in the securities market does not mean that the Noticee (Sameer Pande), at the same time, can make thepromises of assured profits / returns to the clients and use the misleading testimonial and prohibited words in the advertisements." The market regulator's investigations had shown that RA's website www.niftypro.in carried statements that promised "90% accuracy" and "you can generate consistent profits across markets irrespective of the volatilility". The website also carried testimonials from clients, which included one that said that the client has been able "to earn consistently unexpected returns". Commenting on this, the Adjudicating Officer cited the SEBI circular that says that advertisements should not contain any misleading or deceptive testimonials. Shetty wrote, "In my view, the possibility of earning the unexpected returns consistently, as claimed in the said testimonials, is very rare and scarce in the stock market and displaying such kind of testimonial on website of the Noticee (Pande) is misleading and deceptive to the investors". Assured profits She also cited the message on the RA's website that urged an investor to "Book your profit todayby research based recommendations". The order stated, "the said assertive statement mentioned by the Noticee indicates RA’s assurance to the investors of booking the profit on same day of registration / availing his services". The SEBI investigation also showed that the sales representatives of the RA also told clients that they be sure of profits in the range of Rs 7,000 to Rs 10,000 from a capital of Rs 20,000 to Rs 25,000. To this, the RA said that the information was sourced from an "internal lead generation sheet" and was not a client-facing document. Shetty wrote that this contention could not be accepted since it was taken from "calls of the RA's sales representatives with potential clients"
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2024-12-24 17:25
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2024-12-24
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17:25
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moneycontrol.com
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https://www.moneycontrol.com/news/india/looteri-dulhan-who-married-thrice-and-duped-men-of-rs-1-25-crore-arrested-by-rajasthan-police-12896853.html
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'Looteri Dulhan', who married thrice and duped men of Rs 1.25 crore, arrested by Rajasthan Police
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The woman had duped several men of lakhs of rupees over the years..
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After marrying several men and duping them of Rs 1.25 crore, a woman, dubbed by cops as 'Looteri Dulhan(looting bride)', was finally arrested by the Rajasthan police after more than 10 years. Her modus operandi? Identifying rich men on matrimonial sites (usually men who were either divorced or had lost their wives), getting married and then duping them of lakhs of rupees in terms of settlements. Seema, aka Nikki, a resident of Uttarakhand, first got married to a businessman from Agra in 2013. Some time later, she filed a case against the man's family and received Rs 75 lakh as part of a settlement. In 2017, she struck again and married a software engineer from Gurugram and later did away with Rs 10 lakh from the man as settlement after parting ways with him. The con woman then went on to marry a Jaipur-based businessman in 2023. She fled his home with jewellery and cash worth Rs 36 lakh and was caught by the Jaipur Police after the family filed a case. In 10 years, she duped the men of a total of Rs 1.25 crore, News18 reported, quoting cops.
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2024-12-24 17:18
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2024-12-24
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17:18
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/technical-view-nifty-likely-to-see-consolidation-till-it-decisively-crosses-23-900-for-further-upward-journey-12897069.html
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Technical View: Nifty likely to see consolidation till it decisively crosses 23,900 for further upward journey
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Nifty Rangebound.Related stories.
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The Nifty 50 has remained consolidative while defending the 200-day EMA (23,700) for another session on December 24, a day before the monthly F&O expiry scheduled for December 26. On the higher side, it faced a hurdle at 23,900 again. This indicates that the 23,700-23,900 range is acting as a consolidation zone for the index. If the index decisively breaks the lower range, the key support to watch is 23,500 (last Friday's low). However, on the higher side, the 24,000-24,200 zone will act as the resistance if it clears 23,900, according to experts. The Nifty 50 touched an intraday high of 23,868 and a low of 23,685 before closing the session at 23,728, down by 26 points. The index formed a small bearish candlestick pattern with an upper shadow on the daily charts, indicating pressure at higher levels. Today's small red candle formation, following the similar positive candle of Monday, indicates an inside-day bar-type formation. Normally, such pattern formations after a reasonable decline signal caution for an impending trend reversal, but only after confirmation. A sustainable move above 23,900 could confirm a bullish reversal pattern, according to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to Shetti, the near-term trend for the Nifty is still weak, and there are no signs of any significant bottom reversal forming at the lows. "Immediate resistance is placed around 23,900-24,000 levels. The next lower support is at 23,500," he said. The derivative data also suggests that 24,000 is the key hurdle for the Nifty on the higher side, with support at 23,500. As per the monthly options data, the maximum Call open interest was seen at the 24,000 strike, followed by the 24,500 and 23,800 strikes, with maximum Call writing at the 23,800 strike, and then at the 24,100 and 23,850 strikes. On the Put side, the 23,500 strike holds the maximum open interest, followed by the 23,000 and 23,700 strikes, with maximum writing at the 23,800 strike, and then at the 23,700 and 22,900 strikes. The market will remain shut on December 25 for the Christmas holiday. Bank Nifty The Bank Nifty also traded within last Friday's range (50,600-51,650), forming an Inside Bar candlestick pattern on the daily timeframe. The banking index was down by 85 points at 51,233. The index needs to break above or below this range to determine its future direction. On the higher side, 52,250 (50% Fibonacci retracement from December high-low) is the key hurdle, while 50,450 (200-day EMA) is the support going forward, experts said. "In the short term, the index is likely to consolidate in the range of 50,600-51,650. A breakout on either side will set the future direction of the Bank Nifty," said Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C Mehta Investment Intermediates. The declining volatility for another session is a supportive factor for the bulls, increasing the possibility of an upward move soon. The India VIX, the fear index, fell by 2.53% to 13.18, in addition to a 10.3% fall in the previous session.
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2024-12-24 17:15
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2024-12-24
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17:15
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